As used in this Article XXX, the following definitions shall apply. To the extent that there is any conflict between the definitions set forth herein or Article VI or Article XV, this Article XXX shall control.
AFFORDABLE HOUSING RESTRICTION
A contract, mortgage agreement, deed restriction, or other legal instrument, acceptable in form and substance to the Town, that effectively restricts occupancy of an affordable housing unit to a qualified purchaser or renter, and which provides for administration, monitoring, and enforcement of the restriction during the term of affordability. An affordable housing restriction shall run with the land in perpetuity or for the maximum period allowed by law, and be entered into and enforceable under the provisions of MGL c. 184, §§ 31 through 33 or other equivalent state law.
AFFORDABLE UNIT
A dwelling unit constructed per the requirements of this Article XXX, restricted for rent or purchase and occupancy by a low- or moderate-income household, and which is eligible for inclusion in the Chapter 40B Subsidized Housing Inventory, as determined by the Executive Office of Housing and Livable Communities (EOLHC).
LOW OR MODERATE INCOME
A gross household income that does not exceed 80% of Area Median Income (AMI), as determined by the U.S. Department of Housing and Urban Development (HUD), or any other limit established under MGL c.40B, its regulations or any amendment thereto.
MARKET-RATE UNIT
A dwelling unit in a residential or mixed-use development that is not restricted in terms of sale price or rent.
MULTI-FAMILY HOUSING
A dwelling with (a) three or more residential units or (b) two or more residential buildings on the same lot, each having two or more residential units.