Market Rate Unit definition

Market Rate Unit means a Housing Unit that does not meet the definition of a Low-Income Unit.

Market Rate Unit means a unit that is not an Affordable Unit.

Market Rate Unit means a new dwelling unit in a residential project that is not an affordable unit.

Examples of Market Rate Unit in a sentence

• During sale transactions, the Preliminary Change of Ownership Report must properly identify each Below Market Rate Unit as a transfer subject to governmentally imposed restrictions.

• The term Market Rate Unit refers to units without income or rent restrictions.

• Each Vertical Developer shall pay (or cause payment) to the Community Benefits Fund upon the close of escrow of the initial sale to an Owner/Occupant of each Market Rate Unit an amount equal to one-half of one percent (0.5%) of the sale price of such Market Rate Unit.

• One Million Five Hundred Twenty Thousand ($1,520,000.00) Dollars calculated based on obtaining Approvals to construct ninety-one (91) Market Rate Units at Sixteen Thousand ($16,703.33) per Market Rate Unit.

• An annual monitoring fee of $45 per HTC Unit, plus $15 per Market Rate Unit (minimum fee of $500).

More Definitions of Market Rate Unit

Market Rate Unit means a dwelling unit in a Residential Development that is not an Inclusionary Unit.

Market Rate Unit means a Residential Unit that is not an Agency Affordable Housing Unit or a Required BMR Unit.

Market Rate Unit means a Residential Unit that is not an Authority Housing Unit or Inclusionary Unit.

Market Rate Unit is defined in the Below-Market Rate Housing Plan. “Mid-Point Date” is defined in Section 2.1.

Market Rate Unit is each Residential Unit that is not an Affordable Unit.

Market Rate Unit means a dwelling unit in a residential or mixed-use development that is not restricted in terms of rent or sales price.

Market Rate Unit means any Residential Unit within CFD No. 2006-1 that is not a Below Market-Rate Unit.