Workforce Unit definition

Workforce Unit means a Residential Unit that is: (i) required pursuant to the DDA, (ii) subject to a deed restriction related to the affordability of the Residential Unit or income restrictions for its occupants, and (iii) is approved by the Successor Agency as an affordable housing unit priced for sale or lease with an AMI Percentage equal to a minimum of 140% and a maximum of 160%.

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Workforce Unit is defined in the Below-Market Rate Housing Plan.

Workforce Unit means a Unit for which the rental charge or purchase price is Affordable with an AMI Percentage that is equal to a minimum of one hundred twenty-one percent (121%) and a maximum of one hundred sixty percent (160%).

Examples of Workforce Unit in a sentence

• The initial amount of contributions to a homeowners association required to be made by a purchaser of an Inclusionary Unit or a Workforce Unit, as applicable, (the “BMR Association Dues”) shall not be increased for a period of one year following the date that fifty one percent (51%) of all of the Units in the Residential Project have been sold to an Owner/Occupant.

• In no event later than the first rental or sale of a Workforce Unit, as applicable, Vertical Developer will record against each Workforce Unit, as applicable, either (i) the Declaration of Restrictions for Rental Workforce Units, or (ii) a Declaration of Restrictions for Sale Workforce Units.

• Vertical Developers of Workforce Units shall provide the Agency with at least ninety (90) days’ prior notice to the initial rental or sale of a Workforce Unit so that the Agency can provide those holding a Certificate of Preference with advanced notice of the opportunity to purchase or rent the Workforce Unit, as applicable.

• No Workforce Unit in any building or structure on the Property shall be occupied by the Developer, any person related to or affiliated with the Developer, or by a resident manager.

• Exhibit “C” shall be valid for up to one hundred eighty (180) days from the date of approval of the application by the City and must be valid at the time of occupancy of the Workforce Unit.

• The Developer shall not disclose to persons, other than the potential buyer, renter, or lender of a Workforce Unit, which units in the Development are designated as Workforce Units.

• Prior to occupancy of the Workforce Unit by the Applicant’s household members, the Developer shall submit a copy of Exhibit “C.” City shall provide the Developer and the Applicant written notice of approval or rejection of the Applicant.

• When the Developer advertises, sells, rents, or maintains a Workforce Unit, it shall advertise sell, and maintain the same in a nondiscriminatory manner and shall make available any relevant information to any person who is interested in purchasing or renting such Workforce Unit.

• A potential buyer/renter (“Applicant”) shall apply to the Developer, owner, manager, or agent to qualify as an eligible owner/ occupier of a for-sale Workforce Unit or as an eligible renter/ occupier of a for-rent Workforce Unit constructed pursuant to this Agreement and Article V by providing a completed copy of the Workforce Housing Family Application Form set forth in Exhibit “C”, or successor forms provided by the City.

• If the Workforce Unit is not occupied by the Applicant within these time frames, the Income Verification shall lapse and a new Exhibit “C” must be completed and submitted to the City for approval or rejection of the application.

More Definitions of Workforce Unit

Workforce Unit means an RDU that is considered to be for workforce housing as specified in Exhibit “H”.

Workforce Unit is defined in the Below-Market Rate Housing Plan. This FIRST AMENDMENT TO TAX INCREMENT ALLOCATION PLEDGE AGREEMENT (CANDLESTICK POINT AND PHASE 2 OF THE HUNTERS POINT SHIPYARD) (this “First Amendment”) dated for reference purposes as of August 6, 2025 (the “First Amendment Reference Date”) is between the CITY AND COUNTY OF SAN FRANCISCO, a charter city and county (the “City”), and the SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY AND COUNTY OF SAN FRANCISCO, a public body, corporate and politic (the “Agency”), in reference to the DDA (as defined herein), by and between the Redevelopment Agency (as defined below) and CP DEVELOPMENT CO., LLC, a Delaware limited liability company (together with its successors, “Developer”). Capitalized terms used but not otherwise defined in this First Amendment shall have the meanings for such terms set forth in the DDA.