HOME Units definition

HOME Units as described in the Recitals hereto, the 22 Affordable Units in the project that shall be rented in accordance with 24 CFR 92.252, which shall include the 5 Affordable Units to be reserved for “very low-income families” pursuant to the requirements of 24 CFR 92.252(b), all as further set forth in the Deed of Trust, a HOME restrictive covenant or regulatory agreement recorded against the Land. All HOME Units shall be floating units within the meaning of 24 CFR 92.252(j), meaning the designated HOME Units may be changed to maintain conformity with the requirements of 24 CFR 92.252 during the period of affordability so that the total number of housing units meeting the requirements of 24 CFR 92.252 remains the same, and each substituted unit is comparable in terms of size, features, and number of bedrooms to the originally designated HOME Units.
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HOME Units. The specific units affected by this Restriction shall be "floating" units, that is, there shall be no specified HOME-assisted units provided a minimum number of units is occupied in compliance with the HOME requirements specified above, and the floating units reflect the unit-size mix of the entire Project.
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HOME Units means [to come: designate those Units, if any, that are financed with, constructed with, or receive the benefit of HOME Moneys. It is contemplated that if any HOME Moneys are made available to the Project, all of the Units will be HOME Units].
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Examples of HOME Units in a sentence

  • Exhibit 3-8: Example of Maintaining Unit Mix in a Property with Fixed HOME Units Consider a property that has 20 comparable 1- and 2-bedroom apartments with fixed HOME units.

  • Exhibit 3-9: Maintaining Unit Mix in Floating HOME Units When a Tenant Goes Over Income Exhibit 3-10: Example of Maintaining Unit Mix in a Property with Floating HOME Units Consider a property that has 20 comparable 1- and 2-bedroom apartments with floating HOME units.

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  • The owner/manager must follow the steps outlined above in the Section 3.5B, Over-Income Tenants in a Property with Fixed HOME Units.

  • For purposes of Match calculation of interest that is forgiven for future years, the value of the Match is the present discounted cash value, based on the discount rate of 5.50 percent.For a project that is not 100 percent HOME Units, if more than 50 percent of the units in the project are HOME-Assisted, then the contribution to the non-assisted units may be counted as Match.

  • For a project that is not 100 percent HOME Units, if more than 50 percent of the units in the project are HOME-Assisted, then the contribution to the non-assisted units may be counted as Match.

  • Rent in HIGH HOME units cannot exceed the HUD published HIGH HOME rental rates.LOW HOME Units – Tenants residing in LOW HOME units cannot have incomes that exceed 50% of area median income.

  • These HOME Units will be floating units for the purposes of accounting for the HOME per unit subsidies and affordability requirements.

  • A) Number of HOME Units (B) Per unit HOME Square Footage (C) HOME Resid.

  • Standard design criteria and design principles have been appropriately modified to suit local conditions and requirements.


More Definitions of HOME Units

HOME Units means thirteen (13) of the Housing units as follows: (a) at 000 Xxxxxx Xxxxxx: (i) two (2) of the two (2) bedroom, two (2) bath Housing Units shall be Low HOME Units, and (ii) two (2) of the two (2) bath Housing Units shall be High HOME Units; (b) at 000 Xxxxxx Xxxxxx: (i) one (1) of the two (2) bedroom, two (2) bath Housing Units shall be Low HOME Units, and (ii) three (3) of the two (2) bath Housing Units shall be High HOME Units; and (c) at 000 Xxxx Xxxxx: (i) one (1) of the one (1) bedroom, two (2) bath Housing Units shall be a Low HOME Unit,
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HOME Units mean the following County-Assisted Units: three (3) Extremely Low Income Units and eight (8) Forty Percent Income Units.
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HOME Units means those units in the Improvements rented pursuant to 5.18 of this Agreement.
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Related to HOME Units

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Class B Units means the Class B Units of the Company.

  • Restricted Shares shall have the respective meanings set forth in Section 2.14.

  • Stock Units means investment units under the Deferred Delivery Plan, each of which is deemed to be equivalent to one share of Stock.

  • Restricted Stock means Shares issued pursuant to a Restricted Stock award under Section 7 of the Plan, or issued pursuant to the early exercise of an Option.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.