LMIHF definition

LMIHF means the Low and Moderate Income Housing Fund, established and maintained by the Agency pursuant to CRL Section 33334.2 et seq., consisting of 20% set-aside tax increment revenue generated from the Redevelopment Project Areas.
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Examples of LMIHF in a sentence

  • Staff expects to come into compliance on or before the December 31, 2014 statutory compliance deadline by future LMIHF for Low- and very low income housing.

  • As indicated in Attachment C, Affordable Housing Information, with the approval of ▇▇▇▇▇▇ Village the CD9 Project Area will not have spent funds from the Low and Moderate Income Housing Fund (LMIHF) in proportion to need, in that the amount of LMIHF spent to date of Moderate Income exceeds the allowable percentage.

  • Relocation funds totaling $100,000 will be withheld from the total $1.5 million LMIHF loan amount and deposited in a separate CRA/LA retention account.

  • Because the Property is located outside of, but in close proximity to, each of the Redevelopment Project Areas, the Agency’s use of the LMIHF toward the Project requires that the Agency Board and the Council each make a finding under CRL Section 33334.2(g)(1) that such use of the LMIHF will be of benefit to each of the Redevelopment Project Areas.

  • That amount, when combined with from various sources including the LMIHF, Community Development Block Grant (CDBG), and the Livable Communities Trust Fund (Trust) result in a total proposed County contribution of up to $8,299,414.

  • Of the total $3 million, $1.5 million of LMIHF will have a 55-year term and 3% simple interest accruing from the date of the promissory note, payable based on CRA/LA’s prorata share of residual receipts loans (see Attachment B, Project Term Sheet).

  • Pursuant to the proportionality requirements of the Community Redevelopment Law that are applicable to the use of Low and Moderate Income Housing Funds (LMIHF), no less than 45% of the Reseda/Canoga Park Project Area LMIHF must be spent on housing that is affordable to Very Low Income households, no less than 26% of the LMIHF must be spent on housing that is affordable to Low Income households, and no more than 29% of the LMIHF may be spent on housing that is affordable to Moderate Income households.

  • The other sources of funding are contingent upon the total $3 million commitment comprised of $1.5 million from LMIHF and $1.5 million from Prop IC funds.

  • It may be necessary to increase the loan from LMIHF by up to $910,000 ($350,000 + 560,000) to cover a short-fall in funding.

  • This applies to all LMIHF expenditures from January 1, 2002 through December 31, 2014 and not to each individual project.

Related to LMIHF

  • SCI has the meaning set forth with respect thereto in the preamble. ---

  • AMC means Annual Maintenance Contract

  • snippet means a legally binding agreement (made pursuant to the provisions of this Framework Agreement) for the provision of the Services made between a Contracting Body and the Supplier comprising of an Order Form and the Call-Off Terms;","size":74,"snippetLinks":[{"key":"legally-binding-agreement","type":"clause","offset":[8,33]},{"key":"the-provisions-of-this","type":"clause","offset":[52,74]},{"key":"framework- agreement","type":"definition","offset":[75,94]},{"key":"the-provision-of-the-services","type":"clause","offset":[100,129]},{"key":"contracting-body","type":"definition","offset":[145,161]},{"key":"the-supplier","type":"clause","offset":[166,178]},{"key":"order-form","type":"clause","offset":[196,206]},{"key":"off-terms","type":"clause","offset":

  • HKMA means the Hong Kong Monetary Authority.

  • OGTR means the Office of the Gene Technology Regulator.