7.3 HRSR 01-04-2016 - Laserfiche WebLink

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APPENDIX -DEFINITIONS Density Number of units in a given area. Density is typically measured in dwelling units (DU) per acre the larger the number of units permitted per acre the higher the units permitted results in lower density. Density is often pres Gross Density The number of dwelling units per acre based on the gross site acreage. Gross Density = Total residential units/total development area Net Density - The number of dwelling units per acre located on the site, but exclu public right-of-ways (ROW) such as streets, alleys, easements, open spaces, etc. Net Density = Total residential units/total residential land are Detached housing a freestanding dwelling unit, most often single-family homes, situated on its own lot. Effective Rents Contract rent less applicable concessions. Elderly or Senior Housing Housing where all the units in the property are restricted for occupancy by persons age 62 years or better, or at least 80% of the units in each restricted for occupancy by households where at least one househ age or better and the housing is designed with amenities, facili the needs of senior citizens. Extremely low-income person or household with incomes below 30% of Area Median Income, adjusted for respective household size. Fair Market Rent Estimates established by HUD of the Gross Rents needed to obtain rental units in acceptable conditions in a specific geographic a a given property would command if it were open for leasing at anor the amount derived based on market conditions that is needed to pay modest rental housing in a given area. This figure is used as a payment standard amount used to calculate the maximum monthly sur families on at financially assisted housing. Fair Market Rent Sherburne County 2015 Fair Market Rent EFF1BR2BR3BR4BR Fair Market Rent$641$796$996$1,403$1,656 Floor Area Ratio (FAR) Ratio of the floor area of a building to area of the lot on w building is located. 117 MAXFIELD RESEARCH & CONSULTING, LLC