BMR Unit definition

BMR Unit means the two-bedroom unit in the Project of approximately 1,115 net square feet in size that is required to be rented to Eligible Households at Affordable Rent in accordance with the Density Bonus Ordinance and this Agreement.
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BMR Unit or “BMR Units” shall mean and refer to one or more of the Below Market Rate
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BMR Unit means a housing unit that, if for-sale, has an initial sales price that is consistent with what a household making 80 to 100 percent of the Santa Clara County median income can afford in housing expenses, such as mortgage payment, taxes, insurance, and association dues. If the unit is for rent, a BMR unit is a housing unit that has an initial rent equivalent to the HUD Section 8 (or its successor program) Fair Market Rent, adjusted annually by not more than one-third of the Consumer Price Index or other comparable formula agreed to by the city.
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Examples of BMR Unit in a sentence

  • Owner acknowledges and agrees that the City has granted incentives and concessions for the Project, including a reduction in required parking spaces and a density bonus, and that therefore, the City has the legal authority to impose rent and income eligibility requirements on the BMR Unit pursuant to the Density Bonus Statute and the Density Bonus Ordinance.

  • The Authority shall charge owner of a BMR Unit fee of $50 for preparing a BMR Resale Price valuation.

  • Occupants of the BMR Unit shall have access to all Project amenities and recreational facilities available to occupants of the Project’s market-rate units.

  • The Authority shall charge BMR Unit owners a fee of $50 for the evaluation and approval of capital improvements to be added to the resale price.

  • Notwithstanding the foregoing, the occupants of any BMR Unit shall be allowed use of the barbeque area any day of the week between the hours of 9:00 AM and 9:00 PM other than that day the occupants of the remainder of the Hotel Unit use the barbeque area.

  • The Authority, with consent of the Jurisdiction, will attempt to enforce the BMR Resale Restrictions Agreement to secure and preserve the BMR Unit for the Jurisdiction and enforce compliance with the BMR Program, or as otherwise directed by the Jurisdiction with respect to each such BMR Unit.

  • In consideration of the monitoring activities to be performed by the Housing Authority pursuant to Section 1(d) of the MOU, the Locality shall pay to the Housing Authority an annual participation and monitoring fee of $50 for each BMR Unit in the Locality administered by the Housing Authority, payable upon presentation of invoice, at the start of the calendar year.

  • Owner shall offer the BMR Unit for rent at the same time or sooner than the market-rate units in the Project are offered for rent.

  • Prospective tenants of the BMR Unit must sign a written statement acknowledging their agreement that the BMR Unit must be occupied as the tenant’s principal residence, that the unit may not be subleased except to an Eligible Household at an Affordable Rent, that the tenant may not make the unit available for short term rental, and that the tenant is required to annually sign a written statement certifying compliance with all of the foregoing requirements.

  • For a term of fifty-five (55) years commencing upon the date of issuance of a final certificate of occupancy or equivalent for the Project, one of the residential units in the Project (the BMR Unit) shall be rented at Affordable Rent and occupied (or if vacant, available for occupancy) by Eligible Households.


More Definitions of BMR Unit

BMR Unit means any one of the four ‘loft’ dwellings facing Petaluma Boulevard North (as approved April 12, 2022, by the Planning Commission) that is required to be rented to Eligible Households at Affordable Rent in accordance with the Density Bonus Ordinance and this Agreement.
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BMR Unit means Units in the Vale Subdivisions that are treated as “BMR Units” pursuant to that certain Below Market Rate Housing Developer Agreement and Declaration of Restricted Covenants dated October 13, 2016 between the City of Sunnyvale and LS-Sunnyvale LLC, a California limited liability company.
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Related to BMR Unit

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.

  • Designated Unit means information technology devices (e.g. hard disks or central processing units) identified by Licensee pursuant to this Agreement that have been officially made known to the public as appropriate for Use or interoperation with the Software.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.