Deed restricted affordable housing definition

Deed restricted affordable housing means a residential unit that has a regulatory agreement or other instrument recorded against the property which limits the sales price or rent of that unit for a minimum of thirty (30) years affordable to households earning less than one hundred twenty (120) percent of the area median income.
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Deed restricted affordable housing means real estate that is required to be used as affordable housing for a period of time pursuant to a restrictive covenant or similar enforceable, recorded instrument, with income targets that are no higher than 80% of AMI. The term shall include, but not be limited to, HUD multifamily housing and Low Income Housing Tax Credit projects authorized by applicable law.
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Related to Deed restricted affordable housing

  • Affordable housing means, unless the context clearly

  • Affordable housing development means a development included in the Housing Element and Fair Share Plan, and includes, but is not limited to, an inclusionary development, a municipal construction project or a 100 percent affordable development.

  • Affordable Housing Unit means any residential building or dwelling unit that has received federal, state,

  • Affordable housing project means, for purposes of this part, title fourteen of article twenty seven of the environmental conservation law and section twenty-one of the tax law only, a project that is developed for residential use or mixed residential use that must include affordable residential rental units and/or affordable home ownership units.

  • Affordable Housing Units as used in Schedule P shall mean and include “Inclusionary Housing Units.”