Low Income Units definition

Low Income Units or “Set Aside Units” shall mean units which are rent restricted and set aside for tenants whose income does not exceed 50 percent, 60 percent or some lower percentage, whichever is elected, of Area Gross Median Income.

Low Income Units means the units in the Project required to be rented, or held available for occupancy, by Low Income Tenants pursuant to Sections 4(a) and 6(a) of this Regulatory Agreement.

Low Income Units means the units in the Project required to be rented to, or held available for occupancy by, Low Income Tenants pursuant to Sections 4(a), 4(b) and 6(a) hereof.

Examples of Low Income Units in a sentence

• The Participant shall maintain complete and accurate records pertaining to the Low Income Units and will permit any duly authorized representative of the City to inspect the books and records of the Participant pertaining to the Development, including those records pertaining to the occupancy of the Units.

• Subject to the provisions of Section 2.3 below, the Rent paid by Tenants of Extremely Low Income Units, shall not exceed one-twelfth (1/12th) of thirty percent (30%) of thirty percent (30%) of Median Income, adjusted for Assumed Household Size.

• The Extremely Low Income Units, Forty Percent Units, and Very Low Income Units shall be intermingled with all other Units in the Development.

• Subject to the provisions of Section 2.3 below, the Rent paid by Tenants of the Very Low Income Units shall not exceed the maximum allowable rent for a Very Low Income Household as published by HUD pursuant to 24 CFR 92.252(b).

More Definitions of Low Income Units

Low Income Units means residential rental units reserved for occupancy as defined in Section 42(i)(3)(A) of the Code.

Low Income Units means the 44 apartment units in the Apartment Housing that will be rented to low income tenants in compliance with Section 42 of the Code.

Low Income Units means units that, pursuant to Section 2.1 below, are required to be occupied by Low Income Households.

Low Income Units means the Dwelling Units in the Project designated for occupancy by Low Income Tenants pursuant to Section 4(a) of this Regulatory Agreement.

Low Income Units means the units in the Project required to be rented, or held available for occupancy, by Low Income Tenants pursuant to the Regulatory Agreement.

Low Income Units means the Units, which are required to be occupied by Low Income Households.

Low Income Units means the Units that, pursuant to Section 2.1 below, are required to be occupied by Low Income Households.