Affordable Housing Purposes definition

Affordable Housing Purposes means any activity that supports the pre- development, development or rehabilitation of other RAD conversions, public housing, housing assisted under Section 8 of the Act, properties subject to low-income housing tax credit use restrictions, or other federal or local housing programs serving households with incomes at or below 80% of area median income at initial occupancy or otherwise permitted by HUD, or that provide services or amenities that will be used primarily by low-income households as defined by the Act.
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Affordable Housing Purposes means the creation or
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Affordable Housing Purposes means any activity that supports the pre-development, development, rehabilitation or operation of other RAD conversions, public housing, housing assisted under Section 8 of the Act, properties subject to low-income housing tax credit use restrictions, or properties participating in other federal, state or local housing programs serving households with incomes at or below 80% of area median income, or that provides services or amenities that will be used primarily by low-income families as defined by the Act. [ 10 ]
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Examples of Affordable Housing Purposes in a sentence

  • The PHA, for itself and for its successors and assigns, hereby covenants and agrees for the benefit of HUD that throughout the Restricted Period, the Property shall be used for Affordable Housing Purposes.

  • The PHA, the HDFC, and the Owner, each for itself and for its successors and assigns, hereby covenants and agrees for the benefit of HUD that the Section 18 Buildings shall be used for Affordable Housing Purposes throughout the period set forth in Section 2(b).

  • To the extent the Property or any portion thereof is not used for Affordable Housing Purposes, any Proceeds shall be held in a restricted account and be used exclusively for Affordable Housing Purposes.

  • HUD agrees to execute and deliver to the PHA a release of the Use Restriction when an alternative restrictive covenant is placed upon the Property that, in HUD’s determination, satisfies the Affordable Housing Purposes requirement.

  • The proceeds from any refinance or sale of the Covered Project, net of funds described below, that occurs during the period equal to the remaining term of the original Capital Advance Use Agreement will be restricted to benefit the Covered Project or residents at the Covered Project (e.g., capital improvements, service delivery, or any uses set forth in a HUD-approved sources and uses statement other than acquisition) or to other Affordable Housing Purposes.

  • All expenditures listed in a HUD-approved uses of funds are considered Affordable Housing Purposes.

  • The parties hereto desire that the Property itself, or alternatively all financial proceeds from the operation or sale of the Property, be used for Affordable Housing Purposes.

  • Grantee covenants and agrees that the Property shall be used only for a Community Center, Park and Affordable Housing Purposes to support the homeless and clients who are at risk of becoming homeless (as more fully set forth below).

  • For the duration of the Restriction on Proceeds set forth in Section 3(a), the PHA shall retain records of and annually report to its board of directors the calculation of the Proceeds (the net income generated from the Property and the proceeds of any transfer of the Property), and the use of any Proceeds for Affordable Housing Purposes.

  • For the duration of the Use Requirement, the PHA shall retain records of and annually report to its board of directors regarding the use of the Property (including any use for Affordable Housing Purposes) and any proposed transfer of the Property.


More Definitions of Affordable Housing Purposes

Affordable Housing Purposes means any activity that supports the pre- development, development, rehabilitation or operation of other RAD conversions, public housing, housing assisted under Section 8 of the Act, properties subject to low-income housing tax credit use restrictions, or properties participating in other federal, state or local housing programs serving households with incomes at or below 80% of area median income, or that provides services or amenities that will be used primarily by low-income families as defined by the Act. The transferee identified in paragraph 4.b. will rehabilitate the Property and when complete, sell the Property to a low-income homebuyer with a household income of 80% of area median income or below.
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Affordable Housing Purposes means affordable housing purposes as defined by the regulations; "assistance" includes a grant, loan, guarantee or indemnity.
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Affordable Housing Purposes means the creation or rehabilitation of low income housing or moderate income housing as those terms are defined in section 4 of P.L.1985, c.222 (C52:27D-304; and
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Related to Affordable Housing Purposes

  • Affordable housing project means, for purposes of this part, title fourteen of article twenty seven of the environmental conservation law and section twenty-one of the tax law only, a project that is developed for residential use or mixed residential use that must include affordable residential rental units and/or affordable home ownership units.

  • Affordable housing means housing that is available at a cost low enough to meet the needs of eligible households having regard to local incomes and local house prices and which will remain at an affordable price for future eligible households or, if not, that the subsidy is recycled for alternative affordable housing provision

  • Affordable housing program(s means any mechanism in a municipal Fair Share Plan prepared or implemented to address a municipality’s fair share obligation.

  • Affordable Housing Unit means a rental unit in an affordable housing building that rents for an amount that is affordable to households at or below 60 percent of area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis- St. Paul- Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for household size and number of bedrooms.

  • Affordable Housing Units – means the Affordable Housing to be provided as part of the Development in accordance with the application and/or any subsequent reserved matters approval.

  • Affordable housing development means a development included in the Housing Element and Fair Share Plan, and includes, but is not limited to, an inclusionary development, a municipal construction project or a 100 percent affordable development.

  • Affordable Housing Cost means an amount satisfied by:

  • Supportive housing means housing with no limit on length of stay, that is occupied by the target population, and that is linked to an onsite or offsite service that assists the supportive housing resident in retaining the housing, improving his or her health status, and maximizing his or her ability to live and, when possible, work in the community.

  • Affordable means, a sales price or rent level that is within the means of a low- or moderate- income household as defined within N.J.A.C. 5:93-7.4, and, in the case of an ownership unit, that the sales price for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.6, as may be amended and supplemented, and, in the case of a rental unit, that the rent for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.12, as may be amended and supplemented.

  • Residential housing or "Residence" means a single-family, owner-occupied dwelling located within the State that qualifies for financing by the Authority within the meaning of the Act, the Rules and Regulations, the Code and related regulations.

  • Multifamily housing means housing accommodations designed as a residence for more than 1 family.

  • Housing project means a project, or distinct portion of a

  • Affordable Units means units that have rents that do not

  • Housing Provider means, with respect to a HOME Development, Local Government, consortia approved by HUD under 24 CFR Part 92, for-profit and Non-Profit Developers, and qualified CHDOs, with demonstrated capacity to construct or rehabilitate affordable housing.

  • Affordable Unit means a housing unit proposed or created pursuant to the Act and approved for crediting by the Court and/or funded through an affordable housing trust fund.

  • Affordable development means a housing development all or a portion of which consists of restricted units.

  • Community rehabilitation program means a program that provides directly or facilitates the provision of one or more of the following vocational rehabilitation services to individuals with disabilities to enable those individuals to maximize their opportunities for employment, including career advancement:

  • Multi-family housing means a building or structure that is designed to house two (2) or more different households in separate housing Units which have full kitchen facilities including oven/range, refrigerator, kitchen sink with hot and cold water supply and food storage facilities and at least one (1) full bathroom facility(s), one (1) full bedroom and one (1) living area (including a combination thereof such as studio arrangements).

  • Tube housing assembly means the tube housing with tube installed. It includes high-voltage and/or filament transformers and other appropriate elements when such are contained within the tube housing.

  • School operating purposes means the purposes included in the operation costs of the district as prescribed in sections 7 and 18 and purposes authorized under section 1211 of the revised school code, MCL 380.1211.

  • Housing assistance means appropriate referrals by the

  • Non-profit housing development means development of a building or structure intended for use as residential premises by,

  • Workforce housing means housing for sale or rent with combined rental costs

  • Residential real estate means any real property located in this state, upon which is constructed or intended to be constructed a dwelling;

  • Educational Purposes means use for the purpose of education, teaching, distance learning, private study and/or research.

  • Real Estate Business means homebuilding, housing construction, real estate development or construction and related real estate activities, including the provision of mortgage financing or title insurance.