sec.2BAffordable housing— Act , s 7B

sec.2B Affordable housing— Act , s 7B

This section prescribes, for section 7B of the Act , housing that is affordable to the following types of households— very low income households; low to moderate income households; key worker households; first home buyer households. Housing is affordable to very low income households if the housing satisfies either or both of the following criteria— the housing is provided for rental by a registered provider under the Housing Act 2003 , schedule 4 at an affordable rent for very low income households; the housing is provided as part of a program, funded by any of the following entities, to support the provision of housing that is affordable to very low income households— a public sector entity under the Public Sector Act 2022 , section 8 ; a local government; the State; the Commonwealth. Housing is affordable to low to moderate income households if the housing satisfies 1 or more of the following criteria— the housing is provided for rental by a registered provider under the Housing Act 2003 , schedule 4 at an affordable rent for low to moderate income households; the housing is provided for rental at a rent of not more than 74.9% of the market rent of the housing; the housing is provided as part of a program, funded by any of the following entities, to support the provision of housing that is affordable to low to moderate income households— a public sector entity under the Public Sector Act 2022 , section 8 ; a local government; the State; the Commonwealth; the housing has a market value that is not more than the affordable purchase price for low to moderate income households in the local government area in which the housing is located; the housing has a market value that is not more than 20 times the affordable rent, calculated on a yearly basis, for low to moderate income households in the local government area in which the housing is located; the housing has a market rent that is not more than the affordable rent for low to moderate income households in the local government area in which the housing is located. Housing is affordable to key worker households if the housing satisfies 1 or more of the following criteria— the housing has a market value that is not more than the affordable purchase price for key worker households in the priority development area in which the housing is located; the housing has a market value that is not more than 20 times the affordable rent, calculated on a yearly basis, for key worker households in the priority development area in which the housing is located; the housing has a market rent that is not more than the affordable rent for key worker households in the priority development area in which the housing is located. Housing is affordable to first home buyer households if the housing has a market value that is not more than the affordable purchase price for first home buyer households in the priority development area in which the housing is located. s 2B ins 2024 SL No. 208 s 3 (sec.2B-ssec.1) This section prescribes, for section 7B of the Act , housing that is affordable to the following types of households— very low income households; low to moderate income households; key worker households; first home buyer households. (sec.2B-ssec.2) Housing is affordable to very low income households if the housing satisfies either or both of the following criteria— the housing is provided for rental by a registered provider under the Housing Act 2003 , schedule 4 at an affordable rent for very low income households; the housing is provided as part of a program, funded by any of the following entities, to support the provision of housing that is affordable to very low income households— a public sector entity under the Public Sector Act 2022 , section 8 ; a local government; the State; the Commonwealth. (sec.2B-ssec.3) Housing is affordable to low to moderate income households if the housing satisfies 1 or more of the following criteria— the housing is provided for rental by a registered provider under the Housing Act 2003 , schedule 4 at an affordable rent for low to moderate income households; the housing is provided for rental at a rent of not more than 74.9% of the market rent of the housing; the housing is provided as part of a program, funded by any of the following entities, to support the provision of housing that is affordable to low to moderate income households— a public sector entity under the Public Sector Act 2022 , section 8 ; a local government; the State; the Commonwealth; the housing has a market value that is not more than the affordable purchase price for low to moderate income households in the local government area in which the housing is located; the housing has a market value that is not more than 20 times the affordable rent, calculated on a yearly basis, for low to moderate income households in the local government area in which the housing is located; the housing has a market rent that is not more than the affordable rent for low to moderate income households in the local government area in which the housing is located. (sec.2B-ssec.4) Housing is affordable to key worker households if the housing satisfies 1 or more of the following criteria— the housing has a market value that is not more than the affordable purchase price for key worker households in the priority development area in which the housing is located; the housing has a market value that is not more than 20 times the affordable rent, calculated on a yearly basis, for key worker households in the priority development area in which the housing is located; the housing has a market rent that is not more than the affordable rent for key worker households in the priority development area in which the housing is located. (sec.2B-ssec.5) Housing is affordable to first home buyer households if the housing has a market value that is not more than the affordable purchase price for first home buyer households in the priority development area in which the housing is located.