Better, in effect, to increase the number of vacant units in a building and sell the building as a cooperative than to rent below market.
The program requires that 20 to 40 percent of a project's units rent below market rate, keyed to a state formula.
Suddenly lightning stabbed down, a jagged silver streak that rent a hilltop below the city.
They rented the apartment below the one they were living in, planning to renovate it.
New housing developments in certain zones would be required to rent or sell 20 percent of their units below market rate.
Twenty percent of the 104 apartments will rent below the state's affordable limit of $1,400, based on incomes in the area.
This assumes that most of the apartments are currently renting well below vacancy value.
They rented an apartment directly below the apartment where Dave Mustaine lived.
In return for the subsidies, the owners agree to rent below market rates and to keep the apartments under rent stabilization.
Many of the people displaced were renting below market rates.
