Very Low Income Units means the Units which, pursuant to Section 2.1(a) below, are required to be occupied by Very Low Income Households.
Very Low Income Units. The dwelling units in the Project designated for occupancy by Very Low Income Tenants pursuant to Section 4(a)(i) of this Regulatory Agreement. Capitalized terms which are not defined herein shall have the meanings assigned to them in the Funding Loan Agreement and/or the Borrower Loan Agreement. Unless the context clearly requires otherwise, as used in this Regulatory Agreement, words of the masculine, feminine or neuter gender shall be construed to include each other gender when appropriate and words of the singular number shall be construed to include the plural number, and vice versa, when appropriate. This Regulatory Agreement and all the terms and provisions hereof shall be construed to effectuate the purposes set forth herein and to sustain the validity hereof. The defined terms used in the preamble and recitals of this Regulatory Agreement have been included for convenience of reference only, and the meaning, construction and interpretation of all defined terms shall be determined by reference to this Section 1 notwithstanding any contrary definition in the preamble or recitals hereof. The titles and headings of the sections of this Regulatory Agreement have been inserted for convenience of reference only, and are not to be considered a part hereof and shall not in any way modify or restrict any of the terms or provisions hereof or be considered or given any effect in construing this Regulatory Agreement or any provisions hereof or in ascertaining intent, if any question of intent shall arise.
Very Low Income Units means the Units, which, pursuant to Section 2.1(b) below, are required to be occupied by Very Low Income Households.
Examples of Very Low Income Units in a sentence
Very Low Income Units CRA Report Total number of very low income units at the property, as stated in the CRA Report.
Subject to the provisions of Section 2.4 below, the Rent paid by Tenants of Very Low Income Units may not exceed one-twelfth (1/12) of thirty percent (30%) of fifty percent (50%) of Median Income, adjusted for Assumed Household Size.
The City Manager or his/her designee shall promulgate rules and regulations pertaining to this chapter, including but not limited to setting and administering gross rents, requiring guarantees, entering into and recording agreements with applicants and taking other appropriate steps necessary to assure that the required Low Income and Very Low Income Units are provided and occupied by Very Low Income and Low Income Households.
If Very Low Income Units are provided in lieu of the required Low Income Units, a credit of 1.5 units to every 1 unit shall be provided.
An Emergency Shelter is a building owned by a community group or fire department but operated by the Canadian Red Cross during an emergency.
More Definitions of Very Low Income Units
Very Low Income Units means the units in the Project required to be rented, or held available for occupancy, by Very Low Income Tenants pursuant to Sections 4(a) and 6(a) of this Regulatory Agreement. Unless the context clearly requires otherwise, as used in this Regulatory Agreement, words of any gender shall be construed to include each other gender when appropriate and words of the singular number shall be construed to include the plural number, and vice versa, when appropriate. This Regulatory Agreement and all the terms and provisions hereof shall be construed to effectuate the purposes set forth herein and to sustain the validity hereof. The titles and headings of the sections of this Regulatory Agreement have been inserted for convenience of reference only, and are not to be considered a part hereof and shall not in any way modify or restrict any of the terms or provisions hereof or be considered or given any effect in construing this Regulatory Agreement or any provisions hereof or in ascertaining intent, if any question of intent shall arise. The parties to this Regulatory Agreement acknowledge that each party and their respective counsel have participated in the drafting and revision of this Regulatory Agreement. Accordingly, the parties agree that any rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not apply in the interpretation of this Regulatory Agreement or any supplement or exhibit hereto.
Very Low Income Units means the units in the Project required to be rented, or held available for occupancy by, Very Low Income Tenants pursuant to Sections 4(a), 6(a) and 7(a) hereof.
Very Low Income Units means Affordable Units that must be rented to Very Low Income households, as defined in the Affordable Housing Ordinance, at rents that do not exceed the maximum rents established by the City for Very Low Income Units.
Very Low Income Units mean units set aside for Very Low Income households, as defined by SMMC, Section 9.56.020.
Very Low Income Units means the thirty-six (36) Affordable Units that are required to be rented to and occupied by Very Low Income Households. Nine (9) of such units shall contain one (1) bedroom and one (1) bathroom; sixteen (16) of such units shall contain two (2) bedrooms and two (2) bathrooms; and eleven (11) of such units shall contain three (3) bedrooms and two (2) bathrooms.
Very Low Income Units means housing units restricted to occupancy by very low income households at affordable housing cost. (Ord. 2006-14 § 1 (part), 2006)