Mutual housing definition

Mutual housing means a housing project operated or to be operated upon completion of construction, improvement or rehabilitation exclusively for the benefit of the families who are entitled to occupancy by reason of ownership of stock in the housing sponsor, or by reason of co-ownership of premises in a horizontal property regime pursuant to P.L.1963, c.168; but the agency may adopt rules and regulations permitting a reasonable percentage of space in such project to be rented for residential or for commercial use.
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Mutual housing property is owned by a Mutual Housing Association (MHA) and residents are members of the Association that owns the housing. The MHA is a nonprofit corporation that develops, owns and/or manages, or assists cooperatives and other forms of nonprofit resident-controlled housing. The MHA is governed by a Board of Directors composed of residents, and representatives from the private, public and community sectors. The MHA owns all of the housing developments. Residents cannot buy or sell their units directly, however, they have a significant voice in decision-making, and have a lifetime right to live in the housing. 1 Definitions developed in consultation with HUD’s Office of Single Family Housing and the National Association of Housing Cooperatives (NAHC).
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Mutual housing means a multi-unit homeownership development that allows each resident a vested financial interest that has a determinable market value, is divisible and gives the owner an exclusive right to occupy a designated unit for an indefinite period.
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Examples of Mutual housing in a sentence

  • Mutual housing associations always involve substantial resident participation in the community and are often also owned and controlled by the residents of the housing produced.

  • The community-led sector is currently dominated by co-operatives in terms of the existing housing portfolio – there are around 800 co-operatives in the UK,managing around 170,000 homes – butSource: Co-operative and Mutual housing commission7 locality.org.uk8 ibid9 Locality, Understanding the potential of small-scale community-led housing, July 2015, p2010 Kevin Gulliver and Chris Handy (2014) More than Markets.

  • Increased cooperation within the EU, with Romania and with Bulgaria for better living conditions and access to jobs, education, housing, and health and medical care.

  • In the UK’s only Mutual housing association, employees are also represented in the decision making process and all tenants have the right to become Members of the Mutual and can choose the level of involvement that they have in the running of the company.

  • Mutual housing and real estate companiesMutual housing and real estate companies are combined in the consolidated financial statements as subsidiaries using the purchase method when the ownership totals 100 percent, and relatively row-by-row in other cases because the property items of the companies are in mutual control.

  • He will not be able to opt for Higher hospitalisation cover in future during his tenure in CMC.

  • In paragraph (b), remove the definition of ``Mutual housing''; and d.

  • Possible options: Freehold company owned by residents, who then purchase leasehold homes;o Mutual housing ownership society (MHOS);o Housing co-operative.

  • We envision the development of a suite of com- mon semantics libraries to aid application programmers with the use of our model.In cases where the overhead of modifying legacy code or designingapplication-specific semantics libraries is prohibitive, some “general” seman- tics libraries can be used to run unmodified applications.

  • An accelerated launch of additional spectrum assignment procedures in the first semester of 2018 can help operators (particularly small ones and new entrants) further deploy wireless broadband networks, particularly for high and ultra-high speed networks.


More Definitions of Mutual housing

Mutual housing means housing provided by an eligible developer, owned and managed by a nonprofit mutual housing association or by an entity controlled by a nonprofit mutual housing association, in which residents (A) participate in ongoing operation and management; (B) have the right to continue residing in such housing [so] as long as they comply with the terms of their respective occupancy agreement; and (C) have an ownership interest in such occupancy agreement, conditional upon compliance with its terms, but do not possess an equity interest in such housing.
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Mutual housing means a housing project operated or to be operated upon completion of construction or rehabilitation exclusively for the benefit of the families of moderate income who are entitled to occupancy by reason of ownership of stock in the qualified housing sponsor, or as a co-owner in a horizontal property regime pursuant to the "Horizontal Property Act, " P.L. 1963, c.168 (C.46:8A-1 et seq.) or as a condominium unit owner pursuant to the "Condominium Act, " P.L. 1969, c.257 (C.46:8B-1 et seq.); provided, however, the authority may adopt rules and regulations permitting a reasonable percentage of space in such project to be rented for residential or for commercial use.
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Related to Mutual housing

  • Rental housing means development of a building or structure with four or more dwelling units all of which are intended for use as rented residential premises.

  • Mutual housing corporation means a corporation not-for-profit,

  • 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.

  • Transitional housing means buildings configured as rental housing developments, but operated under program requirements that require the termination of assistance and recirculating of the assisted unit to another eligible program recipient at a predetermined future point in time that shall be no less than six months from the beginning of the assistance.

  • 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.

  • Elderly Housing means housing intended for and only occupied by Elderly persons, including a family in which all members are Elderly. All household members must be Elderly (no children, and no disabled persons under the age of 62).

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

  • 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

  • National Housing Act means the National Housing Act (Canada), a federal law that promotes the construction of new houses and the repair and modernization of existing houses. CMHC provides mortgage default insurance under this law.

  • 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.

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

  • Mutual aid means a homeland security activity, as defined by Government Code 421.001, performed under the system or a written mutual aid agreement.

  • Community mental health center or "CMHC" means a facility offering a comprehensive array of community-based mental health services, including but not limited to, inpatient treatment, outpatient treatment, partial hospitalization, emergency care, consultation and education; and, certain services at the option of the center, including, but not limited to, prescreening, rehabilitation services, pre-care and aftercare, training programs, and research and evaluation.

  • Urban Coordinating Council Empowerment Neighborhood means a neighborhood given priority access to State resources through the New Jersey Redevelopment Authority.

  • Community mental health program means all mental health

  • 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.

  • Fair Housing Act means the Fair Housing Act, as amended.

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

  • Target housing means any housing constructed prior to 1978, except housing for the elderly or persons with disabilities (unless any one or more children age 6 years or under resides or is expected to reside in such housing for the elderly or persons with disabilities) or any 0-bedroom dwelling.

  • Virginia Stormwater Management Program or “VSMP” means a program approved by the State Board after September 13, 2011, that has been established by a locality to manage the quality and quantity of runoff resulting from land-disturbing activities and shall include such items as local ordinances, rules, permit requirements, annual standards and specifications, policies and guidelines, technical materials, and requirements for plan review, inspection, enforcement, where authorized in this article, and evaluation consistent with the requirements of this article and associated regulations.

  • Rape Crisis Center means an office, institution, or center offering assistance to victims of sexual offenses through crisis intervention, medical and legal information, and follow-up counseling.

  • 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.

  • Virginia Stormwater Management Program authority or "VSMP authority" means an authority approved by the State Board after September 13, 2011, to operate a Virginia Stormwater Management Program.