Housing Commission Loan definition

Housing Commission Loan means the loan to Owner by the Housing Commission in an original principal amount not to exceed Two Million Nine Hundred Sixty-Seven Thousand Dollars ($2,967,000) disbursed to fund a portion of the acquisition of the Leasehold and the Rehabilitation Costs, and in a position subordinate to the Senior Loan.
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Housing Commission Loan means the loan in the principal amount not to exceed Five Hundred Thousand Dollars ($500,000) to be issued by the San Diego Housing Commission to the Owner to finance a portion of the Affordable Family Housing Units.
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Examples of Housing Commission Loan in a sentence

  • The Housing Commission may fund the Housing Commission Loan from various sources including local, State, and/or federal funds including HOME Investment Partnership Program funds.

  • The estimated number of housing units in Coffee County as of 2009 is 23,557.

  • Any predevelopment expenses incurred by HDP shall be project costs which may be reimbursed to HDP from the proceeds of the Housing Commission Loan and/or any other sources of construction and permanent financing for the Property.

  • In the event that the Housing Commission and HDP do not close on the ground lease and Housing Commission Loan, any work product generated as a result of the predevelopment tasks described herein shall be the property of the Commission.

  • It is anticipated that up to$249,700.00 of those predevelopment costs will be incurred prior to obtaining the NEPA clearance and the Housing Commission Loan closing.

  • Owner shall not be in default under any provision of the OPA or any agreement executed in connection therewith or the Housing Commission Loan Documents.

  • Amend and restate the Housing Commission Loan Agreement to clarify the accumulation and distribution of residual receipts and project reserves, with the amounts at the discretion of the President and Chief Executive Officer or designee.

  • As stated above, there are no Housing Commission Loan funds in this development.

  • Based on the anticipated original principal balances of such two loans, out of the 50% of Additional Proceeds allocated to the Agency and the Housing Commission, 20.84% of the such Additional Proceeds shall be paid to the Agency to reduce the principal amount of the Agency Loan and 79.16% of such Additional Proceeds shall be paid to the Housing Commission to reduce the principal amount of the Housing Commission Loan.

  • Serum nitric oxide was estimated by the method of Smarason et al., 1997 (21).

Related to Housing Commission Loan

  • Affordable Housing Cost means an amount satisfied by:

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

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

  • 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.

  • Housing costs means the compensation or fees paid or charged, usually periodically, for the use of any property. land, buildings, or equipment. For purposes of this chapter, housing costs include the basic rent charge and any periodic or monthly fees for other services paid to the landlord by the tenant, but do not include utility charges that are based on usage and that the tenant has agreed in the rental agreement to pay, unless the obligation to pay those charges is itself a change in the terms of the rental agreement.

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • 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.

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

  • Housing sponsor for purposes of this section, means the

  • Michigan state housing development authority means the public body corporate and politic created by Section 21 of the State Housing Development Authority Act of 1966, 1966 PA 346, MCL 125.1421.

  • 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.

  • Construction Loan Agreement means the Loan Agreement to be entered into by and between the Construction Lender and the Partnership, as amended.

  • Community Association Dues, Fees, and Assessments means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization.

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Multifamily dwelling means a structure that contains more than one separate residential dwelling unit, which is used or occupied, or is intended to be used or occupied, in whole or in part, as the home or residence of one or more persons.

  • Existing Loan means the loan identified on Exhibit H.

  • Delayed Draw Funding Date means any date on which the Delayed Draw Term Loans are funded hereunder, which shall in no event be later than the Delayed Draw Term Loan Commitment Termination Date.

  • Extended Loan shall have the meaning assigned to such term in Section 2.26(a).

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Housing Unit is either a Presold Unit, a Spec Unit or a Model Unit.

  • Leasing Commissions means leasing commissions incurred by Borrower in connection with leasing any Mortgaged Property or any portion thereof (including renewals of existing Leases).

  • Delayed Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Delayed Draw Term Loan and “Delayed Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Delayed Draw Term Loan Commitment, if any, is set forth on Schedule 2.01 or in the applicable Assignment and Assumption, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Delayed Draw Term Loan Commitments as of the Closing Date is $165,000,000.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • 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).

  • SOFR Loan means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to clause (c) of the definition of “Alternate Base Rate”.

  • Investment Project means an investment in qualified buildings