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 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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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 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.
Sample 1

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.

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.

  • Restricted Units means that number of restricted units listed in the Award Letter as “Awards Granted.”

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Article 7.

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.

  • LTIP Units means a Partnership Unit which is designated as an LTIP Unit and which has the rights, preferences and other privileges designated in Section 4.6 and elsewhere in this Agreement in respect of holders of LTIP Units. The allocation of LTIP Units among the Partners shall be set forth in the Partner Registry, as it may be amended or restated from time to time.

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Unvested Units means any Executive Units which are not Vested Units.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Membership Units means membership interests in the Company.

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

  • Unvested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • 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.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • 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.

  • Common Units is defined in the Partnership Agreement.

  • Initial Units means, with respect to any Initial Limited Partner, the aggregate number of Class A Units owned by such Initial Limited Partner as of the date of this Agreement.

  • 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.

  • Vested Units means those Units listed as vested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Private Units means the Units certain of the Investors are privately purchasing simultaneously with the consummation of the Company’s initial public offering.

  • Covered Units means: (i) during the period of the Employee’s employment with the Corporation, each business unit of the Corporation; and (ii) following the Employment Termination Date, each business unit of the Corporation in or for which the Employee was employed or to which the Employee provided services or about which the Employee obtained or had access to Confidential Information, in each case of this clause (ii) at any time within the twenty-four (24)-month period prior to the Employment Termination Date. The Employee acknowledges and agrees that if the Employee is or was employed at a segment level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of such segment; and if the Employee is or was employed at the corporate/headquarters level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of the Corporation.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Class A LP Units means the Class A limited partnership units of the Partnership.