Rent-Restricted definition

Rent-Restricted means, with respect to any Unit, that the Gross Rent with respect to such Unit is not more than 30% of the imputed income limitation applicable to such Unit pursuant to Section 42(g)(2)(C) of the Code, as modified by Appendix A, if applicable.

Rent-Restricted means that the Gross Rent with respect to a Low-Income Unit does not exceed thirty percent (30%) of the Income limitations for qualified Residents adjusted by the Imputed Household Size, subject to the exception set forth in Code Section 42(g)(2)(E) (relating to certain Housing Units for which federal rental assistance decreases as Resident Income increases).

Rent-Restricted means that gross rent for a unit does not exceed 30 percent of the imputed limitation applicable to such unit.

Examples of Rent-Restricted in a sentence

• A Low-Income Unit that has been vacated will continue to be treated as a Low- Income Unit provided that (I) reasonable attempts are made to rent the Unit and (II) no other Units of comparable or smaller size in the building are rented to persons who are not Low- Income Tenants or are rented without being Rent-Restricted.

• If, upon any such annual certification, the Tenant of a Low-Income Unit who was, at the last income certification, a Low- Income Tenant, is found no longer to be a Low-Income Tenant, such Unit will continue to be treated as a Low-Income Unit until the next available Unit of comparable or smaller size in the building (i) is rented to a person who is not a Low-Income Tenant or (ii) is rented without being Rent-Restricted.

• Units shall be Rent-Restricted in accordance with such Income level.

• A Low-Income Unit that has been vacated will continue to be treated as a Low-Income Unit provided that (I) reasonable attempts are made to rent the Unit and (II) no other Units of comparable or smaller size in the building are rented to persons who are not Low-Income Tenants or are rented without being Rent-Restricted.

• If, upon any such annual certification, the Tenant of a Low-Income Unit who was, at the last income certification, a Low-Income Tenant, is found no longer to be a Low-Income Tenant, such Unit will continue to be treated as a Low-Income Unit until the next available Unit of comparable or smaller size in the building (i) is rented to a person who is not a Low-Income Tenant or (ii) is rented without being Rent-Restricted.

More Definitions of Rent-Restricted

Rent-Restricted means, with respect to the Project, that the Gross Rent with respect to a Unit in the Project as published by HUD and established by 24 CFR 92.252, which is the lesser of: (1) The fair market rent for existing housing for comparable units in the area as established by HUD under 24 CFR 888.111; or (2) A rent that does not exceed 30 percent of the adjusted income of a family whose annual income equals 65 percent of the median income for the area, as determined by HUD, with adjustments for number of bedrooms in the unit.

Rent-Restricted. The Gross Rent to be charged for a Low-Income Unit which does not exceed thirty percent (30%) of the income limitation applicable to such unit, adjusted for unit size (assuming that a unit which does not have a separate bedroom is occupied by one individual and that a unit which has one or more separate bedrooms is occupied by 1.5 individuals for each separate bedroom).

Rent-Restricted means a gross rent (as defined in the Code) that does not exceed thirty percent (30%) of the imputed income limitation (as defined in the Code) for the applicable Units (as hereinafter defined).

Rent-Restricted means the gross rent charged for an applicable Restricted Rental Unit does not exceed the Qualifying Rent for the applicable household income category as adjusted for family size appropriate for the unit (as defined in this Section 1).

Rent-Restricted is defined in Section 2.1.

Rent-Restricted means, with respect to any unit, that the gross rent with respect to such unit is not more than 30% of the imputed income limitation applicable to such unit as determined in accordance with applicable law. “Qualifying Tenants” means individuals or families whose income is less than or equal to 60% of the area median gross income (including adjustments for family size), as determined in accordance with applicable law.

Rent-Restricted means, with respect to any unit, that the gross rent with respect to such unit is not more than 30% of the imputed income limitation applicable to such unit as determined in accordance with applicable law. “Qualifying Tenants” means individuals or families whose income is less than or equal to 60% of the area median gross income (including adjustments for family size), as determined in accordance with applicable law. 9 Summit Xxxxx Shopping Simultaneously with the closing of the subject Mortgage Rep. No. on Exhibit B Mortgage Loan and Loan Number as Identified on Exhibit A Description of Exception Center (Loan No. 4) Loan, Mountain Vista Real Estate Opportunity Fund I, LLC, an affiliate of DDR Corp., provided a $9,000,000 mezzanine loan secured by the equity interests in the related Mortgagor. Such mezzanine loan is subject to an intercreditor agreement.