Preservation project means housing that was previously developed as affordable housing with a contract for rent assistance from the United States Department of Housing and Urban De- velopment or the United States Department of Agriculture and that is being acquired by a spon- soring entity.
Preservation project means an existing housing project that is at least 50 percent occupied and is at risk of losing its affordability controls or at risk of losing its level of affordability. In order to qualify for the preservation set-aside, the proposal must be for the rehabilitation of at least 75 percent of the affordable units and no new construction of units is permitted. The application shall include the following:
Preservation project means a QRRP project applying for an allocation of tax-exempt bonds that is not a New Construction Project and meets at least one of the following: (1) has a pre-1999 HCD loan that is being restructured pursuant to Section 50560 of the Health and Safety Code (AB 1699 projects); (2) is a replacement or rehabilitation project approved by HUD pursuant to a Section 18 or Section 22 Demolition/Disposition authorization; (3) is an At-Risk project that is not subject to a regulatory agreement imposing a rent restriction with a remaining term that is greater than five years from the year in which the application is filed that restricts income and rents on the residential
Examples of Preservation project in a sentence
Duda, P.E. District Executive Engineering District 12-0 Route 136 Pavement Preservation ProjectPennDOT District 12 is pleased to announce the substantial completion of the Route136 Pavement Preservation project in Westmoreland County.
More Definitions of Preservation project
Preservation project means an existing, currently occupied affordable housing project at risk of losing its affordability controls. In order to qualify for the preservation set-aside in the Final Cycle, the application shall include the following:
Preservation project means an existing, currently occupied housing project that is at least 50 percent occupied and is at risk of losing its affordability controls or at risk of losing its level of affordability. In order to qualify for the preservation set-aside in the Family, Senior and Final Cycles, the application shall include the following:
Preservation project means housing that washas the meaning preoviously developed as aded in ORS 317.097(1)(g).¶
Preservation project means housing that was previously developed as affordable housing with a contract for rent assistance from the United States Department of Housing and Urban De-
Preservation project means housing that was previously developed as affordable housing with a contract for rental assistance from the United States Department of Housing and Urban Development or the United States Department of Agriculture and that is being acquired by a sponsoring entity. The contract for project-based rental assistance must cover at least 25 percent of all units in the project.
Preservation project a QRRP project applying for an allocation of tax-exempt bonds that is not a New Construction project and meets at least one of the following: (1) has a pre-1999 HCD loan that is being restructured pursuant to Section 50560 of the Health and Safety Code (AB 1699 projects) and has not previously received an allocation of Low-Income Housing Tax Credits; (2) any replacement or rehabilitation project approved by HUD pursuant to a Section 18 or Section 22 Demolition/Disposition authorization; (3) an At-Risk project that is not subject to a regulatory agreement imposing a rent restriction with a remaining term that is greater than five years from the year in which the application is filed that restricts income and rents on the residential units to an average no greater than 60% of the area median income; (4) any project being rehabilitated under the HUD Rental Assistance Demonstration (RAD) Program, or (5), a project that meets all of the following: (a) the project (or projects, if more than one) is not currently encumbered with an existing CDLAC (via bond issuer), CTCAC, or other affordability regulatory agreement, with the exception of a regulatory agreement associated with a HUD Project-Based Section 8 or USDA Rental Assistance contract; (bB) the project (or projects, if more than one) is subject to an existing project-based contract under Section 8 of the United States Housing Act of 1937 or any comparable rental assistance program that provides rental assistance to at least 50% of the units; and (cC) the project (or projects, if more than one) shall be required to complete rehabilitation work at a minimum of $60,000 in hard construction costs per unit, as defined in CTCAC Regulation Section 10302(u), subject to the provisions of IRC Section 42(e)(3)(A)(ii)(I). Note: Authority cited: Section 8869.94, Government Code. Reference: Section 8869.84(c), Government Code.
Preservation project means a (i) small residential project; or (ii) residential project that includes an existing building that is subject to a regulatory agreement with a federal, state or local government agency, provided that such agreement requires all of the residential units, other than units for resident employees of such building, to be affordable for households earning on average up to 50 percent of the area median income, adjusted for household size, and provided, further, that such project receives financial assistance: (A) solely in the form of a tax benefit or (B) that averages less than $35,000 per residential unit, except that “preservation project” shall not include a supportive housing project.