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APPENDIX -DEFINITIONS <br />housing alternatives. Maxfield Research Inc. classifies senior <br />on the level of support services. The four categories are: Active Adult, Con <br />Living and Memory Care. <br />Short Sale A sale of real estate in which the net proceeds from selling the <br />cover the sellers mortgage obligations. The difference is forgiven by the lender, or other <br />arrangements are made with the lender to settle the remainder of <br />Single-family home  A dwelling unit, either attached or detached, designed for use b <br />household and with direct street access. It does notshare heating facilities or other essential <br />electrical, mechanical or building facilities with another dwell <br />Stabilized level of occupancy  The underwritten or actual number of occupied units that a <br />property is expected to maintain after the initiallease-up period. <br />Subsidized housingHousing that is income-restricted to households earning at or below 30% <br />AMI. Rent is generally based on income, with the household cont <br />gross income toward rent. Also referred to as extremely low income housing. <br />Subsidy  Monthly income received by a tenant or by an owner on behalf of <br />difference between the apartments contract/market rate rent and <br />tenant toward rent. <br />Substandard conditions  Housing conditions that are conventionally considered unacceptab <br />and can be defined in terms of lacking plumbing facilities, one <br />electrical system malfunctions, or overcrowded conditions. <br />Target population  The market segment or segments of the given population a development <br />would appeal or cater to. <br />Tenant  One who rents real property from another individual or rental co <br />Tenant-paid utilities  The cost of utilities, excluding cable, telephone, or internet nssary for <br />the habitation of a dwelling unit, which are paid by said tenant <br />Tenure  The distinction between owner-occupied and renter-occupied housing units. <br />Turnover A measure of movement of residents into and out of a geographic <br />Turnover period An estimate of the number of housing units in a geographic locat <br />percentage of the total house units that will likely change occu <br />Unrestricted unitsUnits that are not subject to any income or rent restrictions. <br />122 <br />MAXFIELD RESEARCH & CONSULTING, LLC <br /> <br />