Affordable Rental Units definition

Affordable Rental Units means the number of units contained in the mortgaged property and contained in the agreement for covenants and restrictions that are occupied by low- and moderate-income persons or households at any given time. The number of affordable rental units (in the appropriate number as described later in these guidelines under the CDBG National Objective criteria) are to be retained at all times as affordable rental units throughout the period of affordability through income limitations of the tenants occupying those units and through rent limitations for the tenants occupying those units.

Affordable Rental Units means: 1. the Kingfield Road Affordable Rental Units; and 2. the Xxxxx Road Residential Units (totalling 313 units) constructed or to be constructed on the Kingfield Road Residential Land in accordance with the Kingfield Road Planning Permission and the Xxxxx Road Site in accordance with the Xxxxx Road Planning Permission and shown on Plan 5 and Plan 6 respectively (and “Affordable Rental Unit” shall be construed accordingly);

Affordable Rental Units means the 38 dwelling units in the Housing Project that are to be used and occupied as rental housing in accordance with sections

Examples of Affordable Rental Units in a sentence

• A description of the Affordable Homeownership Unit, if any, by address and number of bedrooms; and a description of the overall quantity and number of bedrooms and number of bedroom types of Affordable Rental Units in a Project or portion of a Project which are rental.

• Such restriction shall apply individually to the specifically identified Affordable Homeownership Unit and shall apply to a percentage of rental units of a rental Project or the rental portion of a Project with the initially designated Affordable Rental Units identified in, and able to float subject to specific approval by DHCD in accordance with, the corresponding Affirmative Fair Housing Marketing Plan (AFHMP) and DHCD’s AFHMP guidelines.

• Prices of Affordable Homeownership-Units are properly computed; rental amounts of Affordable Rental Units are properly computed.

• Such payment shall not exceed one-half (1/2%) percent of the amount of rents of Affordable Rental Units (payable annually) or one (1%) percent of the sale or resale prices of Affordable Homeownership Units (payable upon each such sale or resale), as applicable.

• Prices of Affordable Homeownership Units are properly computed; rental amounts of Affordable Rental Units are properly computed; 2.

More Definitions of Affordable Rental Units

Affordable Rental Units means the units described in Article 4, subject to a 55- year affordability covenant. The Affordable Rental Units shall be occupied by and leased at an Affordable Rent to Extremely Low Income Households and Very Low Income Households as described in Article 4.

Affordable Rental Units are defined in Recital D.

Affordable Rental Units means any of the ninety three (93) rental Low Income and Very Low Income Units to be developed as described in Section 7.13 of this Agreement.

Affordable Rental Units means the fifteen (15) self-contained Dwelling Units within the Development that are to be used and occupied in accordance with Article 2 of this Agreement for a rent charge of not more than the Permitted Rents in accordance with Schedule A of this Agreement;

Affordable Rental Units means Residential Units developed within the boundaries of the EIFD that are restricted for occupancy by Eligible Households at Affordable Rents pursuant to a recorded Rent Regulatory Agreement.

Affordable Rental Units means the Dwelling Units within the Development that are to be used and occupied in accordance with the Housing Agreement;

Affordable Rental Units means those units contained on the Property that are occupied by Low-and-Moderate Income Families at any given time. The Grantor is not required to designate specific units as Affordable Rental Units but must meet the requirements of Section 2 hereof at all times during the Term of Affordability.