LOSP definition

LOSP means the City’s Local Operating Subsidy Program that provides
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LOSP. Local Operating Subsidy Program.
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LOSP means the program administered by MOHCD that regulates the distribution of Local Operating Subsidy.
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Examples of LOSP in a sentence

  • Throughout the term of the LOSP Grant Agreement, the asset management fee, partnership management fee and similar fees combined (the “Asset Management Fee”), shall be $30,900 for the first Operating Year, and may increase by up to 3.5% annually, paid from Net Cash after the payment of all Operating Expenses, debt service and all Reserve Account deposits have been made per Paragraphs 20.b.1 through 20.b.

  • Throughout the term of the LOSP Grant Agreement, the asset management fee, partnership management fee and similar fees combined (the “Asset Management Fee”), shall be the greater of $30,900 for the first Operating Year or the amount set forth in 8314 (a)(B), and may increase by 3.5% annually, paid from Net Cash after the payment of all Operating Expenses, debt service and all Reserve Account deposits have been made per Paragraphs 20.b.1 through 20.b.

  • Borrower is responsible for insuring that residents or clients residing in the LOSP (or other supportive) Units have access to appropriate case management, psychosocial supportive services, and other support services, as well as to health care, where required.

  • In the event that the LOSP or VASH subsidy to the Project terminates, these requirements shall terminate for these Units, and the maximum income level allowed for such Units shall be 60% of Median Income.

  • Rent Max % AMI Target AMI Rent or Operating Subsidies Studio 2 399 $1,210 60% 30% LOSP Studio 10 399 $1,210 60% 30% HUD- VASH 1BR 5 460 $1,384 60% 30% LOSP 1BR 45 460 $1,384 60% 30% HUD- VASH *The foregoing schedule represents the rent restrictions in place at the time of execution (2017) of this Agreement.

  • One Hundred Twenty (120) Units will be made available to Homeless Households during the period in which the City’s Local Operating Subsidy program is in operation and the City provides such subsidy to the Project under the LOSP Agreement.

  • Any proposed deviation(s) from a pro rata cost split between LOSP and the operating budget are subject to review and approval by OCII and MOHCD, and must be justified by the Sponsor.


More Definitions of LOSP

LOSP means the program operated by the City’s Mayor’s office of Housing and Community Development in conjunction with the City’s Department of Public Health and the City’s Human Services Agency to provide operating subsidies to affordable housing units that house formerly homeless people who have been referred by the aforementioned City departments.
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Related to LOSP

  • Accidental means a sudden, not reasonably foreseeable, and unexpected occurrence or event which:

  • Direct care worker means a paid individual who provides direct, personal care services to persons with disabilities or the elderly requiring long-term care (see also the definition of long-term care worker, which includes direct care workers).

  • Enterprise Alternate Contract Source means a contract authorized pursuant to section 287.042(16), F.S., or approved pursuant to section 287.057(3)(b), F.S., for statewide use.

  • Dependent care assistance program or "DCAP" means a benefit plan whereby school employees may pay for certain employment related dependent care with pretax dollars as provided in the salary reduction plan under chapter 41.05 RCW pursuant to 26 U.S.C. Sec. 129 or other sections of the Internal Revenue Code.

  • Dental means of or relating to the teeth and the work of a dentist.