Housing Affordability Sample Clauses

The Housing Affordability clause establishes requirements or commitments to ensure that certain housing units remain financially accessible to individuals or families with low to moderate incomes. Typically, this clause may set limits on rent or sale prices, require a percentage of units in a development to be designated as affordable, or mandate compliance with local or federal affordability standards. Its core practical function is to promote inclusive communities by preventing displacement and ensuring that new developments contribute to the availability of affordable housing options.
Housing Affordability. The use of the Premises shall be subject to the affordability requirements described at Schedule C.
View SourceView Similar (3)
Housing Affordability. Where the City’s CDBG funds are used for homeownership assistance, the housing must qualify as affordable per Section 215 of the National Affordable Housing Act.
View SourceView Similar (2)
Housing Affordability. 3.1.2.1 Developer and City agree that the Project will provide affordable rental housing units by one of two alternative options, at the Developer’s option. Option one: Developer will provide a minimum of 53 low income deed restricted affordable rental units in the Specific Plan. The low-income units will be affordable to those persons making up to 80% of the County's median income and have an affordable-housing deed restriction for a minimum of 55 years. These 53 low-income units will be placed in subarea I-2. Option two: Developer will provide 33 low-income affordable rental units in subarea I-2, 33 moderate-income affordable rental units, and 34 unrestricted (market-rate) rental units in subareas I-2 and J-3. The units will be placed in two separate sites, with a minimum of 40 units in subarea I-2 and a minimum of 60 units in subarea J-3. The 33 low-income units will be affordable to those persons making up to 80% of the County’s median income and have an affordable-housing deed restriction for a minimum of 30 years. The 33 moderate-income units will be affordable to those persons making up to 120% of the County’s median income and have an affordable-housing deed restriction for a minimum of 30 years. Additionally, Developer and City agree that, under either option one or option two, the Developer may add additional units to the rental apartments under the terms and conditions imposed by the City’s density bonus ordinance, including additional unrestricted, market-rate units as allowed by applicable law, in return for providing the required number and type of affordable rental units under an affordable housing deed restriction for a minimum of 55 years. Any Developer responsible for the development of affordable housing within the Project may transfer the acreage designated for affordable housing uses to a non-profit affordable housing entity or government housing agency (an “Affordable Developer”) that is qualified to provide such Developer receipt of a federal and state charitable deduction or comparable favorable tax treatment in connection with such transfer by Developer for the purpose developing the affordable housing required by this Agreement. Any proposed Affordable Developer shall have experience as developers and operators of very low, low, and/or moderate income affordable housing projects, as applicable to the area being transferred, subject to the City’s reasonable approval in conjunction with a Transfer Agreement pursuant to Section 1.91....
View Source
Housing Affordability. The DEVELOPER covenants and agrees with the CITY that eleven (11) of the Project Units will be HOME-assisted Very Low- and Low-Income households and other requirements of 24 CFR 92.252 during the Affordability Period. Three
View Source
Housing Affordability. Prior to execution of a Conveyance Agreement, the County and Developer will agree on the level of housing affordability and the nature of affordability controls to be set forth in the Conveyance Agreement, and, if desired by the Parties, a separate regulatory agreement to be recorded against the Property upon the conveyance of the Property to the Developer.
View Source
Housing Affordability. The Owner covenants and agrees to provide updated information on housing affordability, prior to the registration of any phases of the Plan of Subdivision where applicable, which shall include the following:
View Source
Housing Affordability. In 2003/04, the cost of housing rose in the ACT, in some cases (such as private rental housing), surpassing rates in Sydney. The ACT Affordable Housing Taskforce (2003) found that housing affordability is a growing problem in the ACT, with many people unable to afford appropriate housing. Housing affordability is influenced by a number of factors other than housing costs. These include but are not limited to: general economic conditions, income and employment levels, overall living costs, planning and taxation systems. According to the ACT Affordable Housing Taskforce, “8,400 low-income households in the ACT were paying more than 30% of their income in housing costs. For over half of these households, housing costs amounted to more than 40% of their income.”4
View Source
Housing Affordability. The DEVELOPER covenants and agrees with the CITY that the Project Units will be affordable to households with average incomes of no more than 60% AMI with a minimum of 30% of the units supporting Extremely Low-Income households and other requirements during the Affordability Period. The Project Units, at a minimum, shall be rented to and occupied by, or, if vacant, available for rental and occupancy by (a) person(s) whose annual household income at the time of initial occupancy is not greater than 60% of AMI for the Affordability Period except upon foreclosure or other transfer in lieu of foreclosure following default. However, if at any time following a transfer by foreclosure or transfer in lieu of foreclosure, but still during the Affordability Period, the owner of record prior to the foreclosure or transfer in lieu of foreclosure, or any newly formed entity that includes such owner of record those whom such owner of record has or had business ties, obtains an ownership interest in the Project or the Property, the Affordability Period shall be revived according to its original terms. In the event the DEVELOPER fails to comply with this Section, or the Affordability Period is not revived following transfer by foreclosure or transfer in lieu of foreclosure, the DEVELOPER shall return to the CITY all tiny homes disbursed to the DEVELOPER by the CITY.
View Source
Housing Affordability 
View Source

Related to Housing Affordability

  • Affordable Housing Owner shall set aside and reserve ten percent (10%) of the total multifamily residential units located in the Project as affordable housing units consistent with the terms set forth herein, for Income Eligible Residents earning in the aggregate no more than sixty percent (60%) of AMI. The published income limits will be adjusted by household size. The income limits will be adjusted annually according to the HUD published limits. To that end, no fewer than the number of multifamily units in the Project set forth in the table below shall, pursuant to the terms and conditions of a Land Use Restriction Agreement (i.e., the “▇▇▇▇”) in substantially the form attached hereto as “Attachment 1” to this Schedule P and incorporated herein by reference. Capitalized terms used but not defined in this Schedule but which are defined in the ▇▇▇▇ shall have the same meaning herein as therein. Each Phase of the Project shall have no few than the number of Affordable Housing Units allocated to it in in the table below. The table is as follows: PHASES AFFORDABLE HOUSING UNITS ALLOCATED TO PHASE PHASE 1 446 PHASE 2 300 PHASE 3 240 986 PRO FORMA TOTAL MULTIFAMILY UNITS IN THE PROJECT 10% 99 TOTAL AFFORDABLE UNITS Each such Affordable Unit in a Phase will be made available for a period of time not less than twenty (20) years following the date on which the last multifamily building of a Phase receives a permanent certificate of occupancy (each, an “Affordable Housing Compliance Period”), to Income Eligible Residents as defined in the ▇▇▇▇. Such requirements shall be referred to with respect to each Phase as the “Affordable Housing Requirements.” The foregoing Affordable Housing Requirements will be set forth in the ▇▇▇▇ in such form as is consistent with the then applicable practices of ACC for similar affordable housing transactions, provided that such form does not alter the Affordable Housing Requirements set forth in this Agreement, permits transferability and release consistent with Section 12.4 hereof, and does not increase the obligations of Owner, its successors and assigns. The current form of ▇▇▇▇ is attached “Attachment 1” to this Schedule P. Upon approval of a subsequent form of ▇▇▇▇ by ACC and review and approval by the Owner consistent with the foregoing, the subsequent form of the ▇▇▇▇ may be affixed hereto as “Attachment 1” to this Schedule P without further amendment to this Agreement. The ▇▇▇▇ shall be recorded in the Athens-▇▇▇▇▇▇ County land records in customary fashion upon the submission of the initial and Requisition and shall be recorded only against the applicable parcel on which such units are constructed. The Affordable Housing Requirements are part of this Agreement, and the failure by Owner to comply with same shall be an Event of Default under this Agreement. The Affordable Housing Requirements shall terminate with respect to each such Phase of the Project, respectively, upon conclusion of the Affordable Housing Compliance Period for such Phase as set forth in the applicable ▇▇▇▇. For purposes of compliance with O.C.G.A. §44-5-60, the parties understand and agree that no ▇▇▇▇ will have a period greater than 20 years, but that this Agreement shall automatically terminate upon the expiration of a ▇▇▇▇ if simultaneously therewith Owner does not enter into a new, replacement ▇▇▇▇ that extends for the lesser of 20 years or the period necessary that the 20 year Affordability Housing Requirements are satisfied on a cumulative basis.

  • Rehabilitation Program The company agrees to the implementation of an agreed worker’s compensation rehabilitation policy. The operation of this policy shall be reviewed on a regular basis. The parties commit to ensuring that the rehabilitation of injured workers is an accepted practice, and that suitable duties are provided when available. No employee will be terminated whilst on workers compensation during the first 12 months without prior consultation with the union. The parties agree that the person responsible for the management of rehabilitation cases must be adequately trained to do the job. If such a person is not available within the company, then the services of an agreed building industry rehabilitation coordination service will be used. The parties to this Agreement shall ensure that any employee who sustains a work related injury, illness or disease, will be afforded every assistance in utilising a rehabilitation program aimed at returning that employee to meaningful employment within the industry.

  • Housing The receiving institution will guide incoming mobile participants in finding accommodation, according to the requirements of the Erasmus Charter for Higher Education. Information and assistance can be provided by the following persons and information sources: DE CZ ▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇▇.▇▇, +▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇://▇▇▇.▇▇▇▇.▇▇/incoming-students-housing

  • Portability (a) Employees are able to maintain their participation in the scheme should they transfer their employment between Catholic schools or to the Catholic Education Office. (b) The employee is obliged to notify the principal prior to appointment of their participation in the Deferred Salary Scheme and the date that leave is due to be taken. (c) Participation in the Deferred Salary Scheme shall not impede an application for employment in a Catholic school.