Set Aside Units definition

Set Aside Units means “Low Income Units.”
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Set Aside Units. For Qualified Projects with more than four residential housing units, the RRDP will require a specified number of set-aside units (“Set-Aside Units”) to be occupied by Qualified Households with lower household incomes based upon the number of residential housing units in a Qualified Project and for an Affordability Period as specified below: 4 or fewer units 80% AMI and below None 5 units 80% AMI and below One (1) for 50% AMI Household 6-7 units 80% AMI and below Two (2) for 50% AMI Household
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Set Aside Units. For Qualified Projects with more than four residential housing units, the NLRP Initiative requires a specified number of units to be occupied by Qualified Households with lower household incomes based upon the number of residential housing units in a Qualified Project and for an Affordability Period as specified below: 4 or fewer units 80% AMI and below None five (5) years 5 units 80% AMI and below One (1) for 50% AMI Household five (5) years 6 units 80% AMI and below Two (2) for 30% AMI Household five (5) years 7 units 80% AMI and below Three (3) for 30% AMI Household five (5) years
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Examples of Set Aside Units in a sentence

  • For example, based on the $45 per unit fee published in the Authority’s 2015-2016 QAP, such annual fee would equal $468.00 (equal to 8 Set Aside Units x $45 per unit x 1.

  • Upon reasonable notice to Owner, either the Authority or Village may inspect the Owner's books or records relating to the Set Aside Units and any statement of facts contained in any Annual Certification.

  • The Owner shall certify that reasonable attempts were made to rent Set Aside Units in the Development meeting the Set Aside Requirements to residents having a qualifying income if such Set Aside Units became vacant during the Annual Certification period.

  • Owner shall maintain all records relating to the Set Aside Units, including resident income certifications and documentation of rental charges, for a period of not less than three (3) complete calendar years after the date of such records.


More Definitions of Set Aside Units

Set Aside Units means affordable units that are filled through case management, for example by referral from a homelessness services provider.
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