Net Appreciation definition
Examples of Net Appreciation in a sentence
A deed of trust securing the repayment of the loan made by the City to an Eligible Buyer representing the Workforce Housing Discount, plus the Shared Net Appreciation of the Workforce Housing Unit.
For example, if the amount evidenced by the Equity Sharing Agreement equals twenty-five percent (25%) of the Initial Sales Price of the unit, the amount of the Shared Net Appreciation owed to the City at resale will be twenty-five percent (25%) of the Net Appreciation of the unit.
The Shared Net Appreciation is paid, along with the amount equal to the Workforce Housing Discount as evidenced by the Workforce Housing Promissory Note, on the sale or transfer of the unit.
The Agreement between the City and Eligible Buyer whereby Eligible Buyer agrees to share the Net Appreciation with the City upon the resale of the Workforce Housing Unit in accordance with Chapter 16, Article VIII of the City Code.
The amount of Net Appreciation owed to the City by the Eligible Buyer of a Workforce Housing Unit, which shall be equal to the proportional share represented by the City’s investment in the original purchase of the unit as evidenced by this Equity Sharing Agreement.