35A-8-511. Activities authorized to receive account money. The
executive director may distribute funds from the Economic Revitalization and Investment
Fund and the
Rural Housing Fund for any of the following activities undertaken as part of an approved project:
| (1) |
the acquisition, rehabilitation, or new construction of a building that includes moderate income housing units; |
Terms Used In Utah Code 35A-8-511
- Executive director: means the executive director of the department appointed under Section 35A-1-201. See Utah Code 35A-1-102
- Fund: means the Olene Walker Housing Loan Fund created by this part. See Utah Code 35A-8-501
- Land: includes :Utah Code 68-3-12.5
- Moderate income housing: means housing occupied or reserved for occupancy by households with a gross household income equal to or less than 80% of the median gross income for households of the same size in the county in which the housing is located. See Utah Code 35A-8-101
- Rural: means a county in the state other than Utah, Salt Lake, Davis, or Weber. See Utah Code 35A-8-501
| (2) |
the purchase of land for the construction of a building that will include moderate income housing units; or |
| (3) |
pre-development work, including planning, studies, design, and site work for a building that will include moderate income housing units. |
Amended by Chapter 406, 2022 General Session
