Restricted Unit means a dwelling unit, whether a rental unit or ownership unit, that is subject to the affordability controls of N.J.A.C. 5:80-26.1, as may be amended and supplemented, but does not include a market-rate unit financed under UHORP or MONI.
Restricted Unit means a Unit granted pursuant to Section 6(b) of the Plan that is subject to a Restricted Period.
Examples of Restricted Unit in a sentence
The Owner will obtain, complete and maintain on file an income certification for each Very Low Income Tenant (i) immediately prior to the initial occupancy of a Restricted Unit by such Tenant, and (ii) thereafter, annually, by completing the Income Certification Form together with such information, documentation and certifications as are required therein or by the City, in its discretion, to substantiate the Tenant’s income.
The term of the lease for any Restricted Unit shall be not less than six months unless, for purposes of single room occupancy units, a shorter term is permitted by federal law and regulation.
More Definitions of Restricted Unit
Restricted Unit means an Award of units representing Shares described in Section 9.1(b) of the Plan.
Restricted Unit means an apartment that is subject to an extended lease arrangement as provided in subsection (4).
Restricted Unit means a Unit granted under Section 4.6 to acquire Shares or an equivalent amount in cash, which Unit is subject to any restrictions that the Committee, in its discretion, may impose.
Restricted Unit means any Assisted Unit and any Unit that is subject to Rent and occupancy restrictions that are comparable to those applicable to Assisted Units. Restricted Units include Units subject to a TCAC regulatory agreement, and all Units subject to similar long-term, low-income or occupancy restrictions imposed by other public agencies.
Restricted Unit means a notional account established pursuant to an Award granted to a Participant, as described in Article 8, that is (a) credited with amounts equal to Shares or some other unit of measurement specified in the Award Agreement, (b) subject to restrictions and (c) payable in cash or Shares.
Restricted Unit means a Participant’s right to receive pursuant to the Plan one share of Common Stock at the end of a specified period of time, which right is subject to forfeiture in accordance with Section 8 of the Plan.
Restricted Unit means a phantom, or notional, unit granted under the Plan which is equivalent in value and in distribution rights to a Unit and which, upon vesting, entitles the Participant to receive a Unit or its Fair Market Value in cash, whichever is determined by the Committee.