Sentences with phrase «percent occupancy requirement»

The city created the 50 percent occupancy requirement, but some members of the Common Council argue the proposed 31,000 - square - foot BioLink project should be an exception to the rule.

The city created the 50 percent occupancy requirement, but some members of the Common...

Not exact matches

FHA lowers the owner - occupancy requirement on condominiums from 50 percent to 35 percent, effective immediately.

«HUD has the authority right now to set the owner - occupancy requirement at 35 percent while the regulatory process moves forward, «Salomone said.

Prior to the change, if someone who owns a unit in a condo project uses the unit as a second home, that unit doesn't count as part of FHA's 50 - percent owner - occupancy requirement.

Polychron drew loud applause when he mentioned that just last week, the FHA, which has been crafting rules to reflect the law, announced that it will lower the owner - occupancy requirement on condominiums from 50 percent to 35 percent.

NAR President Tom Salomone, broker - owner of Real Estate II Inc. in Coral Springs, Florida, says the Federal Housing Administration's recently - announced rule change to lower the owner - occupancy requirement for approved condominium buildings from 50 percent to 35 percent under certain conditions is a step forward for prospective buyers considering a condo.