Affordable Rent Level definition

Affordable Rent Level means a rent which does not exceed an Affordable Rent (subject to Condition 2.4);
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Affordable Rent Level means that the accessory dwelling unit household’s monthly cost of rent, plus the cost of electricity, gas, water and sewer service, and garbage collection (hereinafter “utilities”) is 30% or less than the upper limit of the annual gross household income, divided by 12, for a specified income category and household size as last published by the California Department of Housing and Community Development (hereinafter “HCD”). The Town shall determine maximum affordable rent levels for rent-restricted accessory dwelling units following the annual publication of the State Income Limits by HCD. In determining rent levels, the household size for rent-restricted accessory dwelling units shall be: studio, 1 person; one-bedroom, 2 persons; two-bedroom, 3 persons; and, three-bedroom, 4 persons. The cost of utilities for the accessory dwelling unit shall be included in the affordable rent level. For rent- restricted accessory dwelling units where utilities are separately metered and billed, and where the accessory dwelling unit household is responsible for the costs of that household’s use of utilities, the maximum rent shall be set at 90% of the affordable rent level.
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Affordable Rent Level means a rent which does not exceed an Affordable Rent; Agreed Purposes means the tenure for which each RSAP Dwelling is to be used as such tenures (including the relevant rent levels) are described in the Capital Project Details; Agreement means this Rough Sleeping Accommodation Programme Revenue Funding Agreement (including its Schedules, Annexures and Appendices (if any));
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Examples of Affordable Rent Level in a sentence

  • The parties acknowledge that in setting the Affordable Rent Level, it may not be possible for the Grant Recipient and/or the Grant Recipient to identify a comparable market rent for an equivalent property of the relevant size and location (an Equivalent Property) in the Broad Market Rental Area.

  • In the circumstance contemplated in this Condition 2.4 the Grant Recipient should set the Affordable Rent Level by reference to the Comparable Market Rent.

  • The proposed rule’s description of nonperforming assets in §.106(b) would be consistent with the definition of “nonperforming exposure” in §.3 of the LCR rule.An asset that is encumbered for a period of six months or more, but less than one year, would be assigned an RSF factor equal to the greater of 50 percent and the RSF factor the asset would be assigned if it were not encumbered.

  • Authority cited: Section 65580, Government Code; Section 104.6, Streets and Highways Code Reference cited: Section 65580, Government Code; Section 104.6, Streets and Highways Code §2654 Definition of Terms Affordable Rent Level means 25% of the gross monthly income for tenants who began renting the unit on or before March 3, 1981 or 30% of the gross monthly income for tenants who began renting the unit after March 3, 1981.

  • This meets the Croydon Local Plan (2018) policy requirements, but as it is not being provided at London Affordable Rent Level, falls short of London Plan’s (2021) split requirements.


More Definitions of Affordable Rent Level

Affordable Rent Level means that the second unit household’s monthly cost of rent, plus the cost of electricity, gas, water and sewer service, and garbage collection ( “utilities”) is 30% or less than the upper limit of the annual gross household income, divided by 12, for a specified income category and household size as last published by the California Department of Housing and Community Development ( “HCD”). The City shall determine maximum affordable rent levels for rent-restricted second units following the annual publication of the State Income Limits by HCD. In determining rent levels, the household size for rent-restricted second units shall be: studio, 1 person; one-bedroom, 2 persons; two-bedroom, 3 persons; and, three-bedroom, 4 persons. The cost of utilities for the second unit shall be included in the affordable rent level. For rent- restricted second units where utilities are separately metered and billed, and where the second unit household is responsible for the costs of that household’s use of utilities, the maximum rent shall be set at 90% of the affordable rent level. (California Health and Safety Code Section 50053)
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Related to Affordable Rent Level

  • Affordable Rent means a rent which does not exceed eighty per centum (80%) of the market rent (inclusive of service charges) for an equivalent property of the relevant size and location such rent to be assessed and set in accordance with the applicable requirements of Legislation and of the Rent Standard;

  • Anticipated county property tax revenue availability means the

  • Rent Expense means, for any period, with respect to the Credit Parties and their Subsidiaries on a consolidated basis, all rent payable under an operating lease (whether a lease of real property, personal property or mixed), as determined in accordance with GAAP.

  • CIC Protection Period means the two-year period beginning on the date of a Change in Control and ending on the day before the second annual anniversary of the date of the Change in Control.

  • management expense ratio means the total fees and expenses a fund paid during a year divided by its average assets for that year.

  • medium term expenditure framework ’ means a budgeting framework applied by the National Treasury which—

  • Annual Turnover means the actual turnover achieved during your first year of operations, from the commencement of your business to the date of the damage, converted to a 12-month equivalent figure.

  • Affordable Housing Cost means an amount satisfied by:

  • net non-operating income means the difference between:

  • Adjusted Total turnover means the turnover in a State or a Union territory, as defined under sub-section (112) of section 2, excluding the value of exempt supplies other than zero-rated supplies, during the relevant period;

  • Construction management at-risk means a project delivery method in which the District awards separate contracts, one for architectural and engineering services to design an infrastructure facility and the second to a construction manager at-risk for both construction of the infrastructure facility according to the design and construction management services.

  • Sewage sludge fee weight means the weight of sewage sludge, in dry U.S. tons, excluding admixtures such as liming materials or bulking agents. Annual sewage sludge fees, as per section 3745.11(Y) of the Ohio Revised Code, are based on the reported sludge fee weight for the most recent calendar year.

  • State average current expense appropriations per student means the most

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • Occupancy Rate means, for any Property, the percentage of the net rentable area (determined on a square feet basis) of such Property leased by bona fide tenants of such Property (excluding tenants that have vacated the Property on a permanent basis and have not sublet same to a bona fide subtenant) pursuant to bona fide tenant leases (or subleases), in each case, which tenants (or subtenants) are not more than sixty days past due in the payment of all rent payments due under such leases (or subleases).