Laserfiche WebLink
APPENDIX- DEFINITIONS <br /> Density— Number of units in a given area. Density is typically measured in dwelling units (DU) <br /> per acre—the larger the number of units permitted per acre the higher the density; the fewer <br /> units permitted results in lower density. Density is often presented in a gross and net format: <br /> • Gross Density—The number of dwelling units per acre based on the gross site acreage. <br /> Gross Density= Total residential units/total development area <br /> • Net Density- The number of dwelling units per acre located on the site, but excludes <br /> public right-of-ways (ROW) such as streets, alleys, easements, open spaces, etc. <br /> Net Density= Total residential units/total residential land area(excluding ROWs) <br /> Detached housing—a freestanding dwelling unit, most often single-family homes, situated on <br /> its own lot. <br /> Effective Rents—Contract rent less applicable concessions. <br /> Elderly or Senior Housing—Housing where all the units in the property are restricted for <br /> occupancy by persons age 62 years or better, or at least 80%of the units in each building are <br /> restricted for occupancy by households where at least one household member is 55 years of <br /> age or better and the housing is designed with amenities, facilities and services to meet the <br /> needs of senior citizens. <br /> Extremely low-income—person or household with incomes below 30%of Area Median <br /> Income, adjusted for respective household size. <br /> Fair Market Rent—Estimates established by HUD of the Gross Rents needed to obtain modest <br /> rental units in acceptable conditions in a specific geographic area. The amount of rental income <br /> a given property would command if it were open for leasing at any given moment and/or the <br /> amount derived based on market conditions that is needed to pay gross monthly rent at <br /> modest rental housing in a given area. This figure is used as a basis for determining the <br /> payment standard amount used to calculate the maximum monthly subsidy for families on at <br /> financially assisted housing. <br /> Fair Market Rent—Sherburne County 2015 <br /> Fair Market Rent <br /> I EFF II 1BR II 2BR II 3BR II 4BR <br /> Fair Market Rent $641 $796 $996 $1,403 $1,656 <br /> Floor Area Ratio (FAR) Ratio of the floor area of a building to area of the lot on which the <br /> building is located. <br /> MAXFIELD RESEARCH&CONSULTING,LLC 117 <br />