Workforce Units definition

Workforce Units means units that are affordable to persons making 80% of the area median income; “area median income” means the St. Louis Area (MO-IL) Median Family Income (AMI) published by the United States Department of Housing and Urban Development; and “affordable” means rents not exceeding 30% of income. If the Developer and the City implement the provisions of this paragraph, the Developer and the City will jointly develop forms for the Developer to annually report its compliance with this Section.
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Examples of Workforce Units in a sentence

  • 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.

  • Developer shall cause the Workforce Administrator to cooperate in good faith with the Agency in the Agency’s good faith cooperation with State Parks regarding the provision of opportunities, at purchase prices or rental charges established pursuant to this Below-Market Rate Housing Plan and subject to applicable fair housing laws, for up to eleven (11) Workforce Units in the Candlestick Site to income-eligible employees of State Parks working in the CP State Recreation Area.

  • In the Sub-Phase Application for the first Sub- Phase that contains Workforce Units in each Major Phase, Developer shall select a Workforce Administrator for such Major Phase, which Workforce Administrator shall be subject to the Approval of the Agency (the “Workforce Administrator”).

  • A Vertical Developer may not rent or sell Workforce Units until the Agency Director has Approved the conformity with this Below-Market Rate Housing Plan of the rental charges and purchase prices for such Workforce Units, as applicable.

  • This Below-Market Rate Housing Plan requires that no less than thirty-one and eighty six hundredths percent (31.86%) of the Units constructed in the Project Site be Below-Market Rate Units, including ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Replacement Units, Agency Affordable Units, Inclusionary Units and Workforce Units, each with at least the applicable Percentage of Total Units for each applicable AMI Percentage as set forth in the Below-Market Rate Table.

  • Subject to the foregoing and Section 2.5(d), Workforce Units may be included within either a Stand-Alone Workforce Project or a Market Rate Project.

  • Any condominium map for a Residential Project containing Workforce Units shall also reflect the above restrictions.

  • Nothing in this Section 2.5(d) shall increase the total number of Workforce Units above the amount required under Section 3.1(c).

  • The Workforce Administrator shall (i) implement, administer and monitor the development of Workforce Units within that Major Phase, and (ii) maintain a list of interested, qualified purchasers of Workforce Units.

  • Developer or Vertical Developer, as applicable, may determine in their respective sole discretion whether Workforce Units are Rental Units or Sale Units.