Examples of Affordable Owner in a sentence
Objective A: Preserve Existing Affordable Owner and Renter Housing This objective is intended to help preserve the existing housing stock especially for the benefit of low and moderate income homeowners who may not be able to maintain their homes without assistance.
Upon receipt of such notice, Declarant or its assignee may elect to purchase such Affordable Unit, in which case upon such election the Affordable Owner and Mortgagee shall have the obligation to sell the Affordable Unit for an amount equal to the Maximum Resale Price as of the date of the Foreclosure Notice (the “Option to Purchase”), with no obligation upon Declarant to exercise the same.
An Affordable Owner may submit Capital Improvement Claims to DHCD to obtain credit for capital improvements made to an Affordable Unit owned by the Affordable Owner.
Notwithstanding the foregoing, this Covenant may be amended, terminated and/ or released in whole or in part by Declarant in writing at any time, without notice to the Developer, any Affordable Owner, or Transferee.
The Affordable Owner shall permit a representative of DHCD to inspect the Affordable Unit upon request to verify the existence and value of any capital improvements claimed under a Capital Improvement Claim.
ARTICLE X AFFORDABILITY PERIOD All Affordable Units in the Project shall be sold in accordance with the terms of this Covenant for the “Affordability Period.” The “Affordability Period” for each For Sale Affordable Unit shall begin on the date of the Sale to the initial Affordable Owner and continue for a period of fifteen (15) years.
Total Section 215 Affordable Owner Housing Goals – A total of 85 homeowner units are expected to be assisted through formula entitlement program-funded activities.
Total Section 215 Affordable Owner Housing Goals – A total of 178 homeowner units are expected to be assisted through formula entitlement program-funded activities.
All Affordable Units in the Project shall be sold or leased in accordance with the terms of this Covenant for the “Affordability Period.” If the Affordable Development contains For Sale Affordable Units, the “Affordability Period” for each For Sale Affordable Unit shall begin on the date of the sale to the initial Affordable Owner and continue for a period of fifteen (15) years.
Total Section 215 Affordable Owner Housing Goals – A total of 259 homeowner units are expected to be assisted through formula entitlement program-funded activities.