As used in this chapter, unless a different meaning appears from the context:

(1) “Area” means the State.

(2) “Authority” means a public body corporate or politic, organized in accordance with Chapter 43 or 45 of this title for a purpose, with the powers and subject to the restrictions set forth in those chapters, including a community exercising the powers and duties of a slum clearance and redevelopment authority; provided however, that “Authority” shall not mean the Delaware State Housing Authority.

(3) “Bonds” mean any bonds (including refunding bonds), notes, interim certificates, debentures or other obligations issued by DSHA pursuant to this chapter.

(4) “Community” means any municipality or county in this State.

(5) “Community facilities” include lands, buildings and equipment for recreation or social assembly, for educational, health or welfare activities and other necessary utilities primarily for use and benefit of the occupants of housing accommodations to be constructed and operated under this chapter.

(6) “Conservation” means the preservation of any area or section of a community and the supervision and care of such area or section, to prevent the reoccurrence or spread of slum conditions or conditions of blight.

(7) “Council” means the State Council on Housing.

(8) “DSHA” means the Delaware State Housing Authority created by § 4010 of this title.

(9) “Federal government” means the United States or any agency or instrumentality, corporate or otherwise, of the United States.

(10) “Federally insured mortgage” means a mortgage loan for land development or for residential housing insured or guaranteed by the United States or an instrumentality thereof, or a commitment by the United States or an instrumentality thereof to insure such a mortgage.

(11) “Federal mortgage” means a mortgage loan for land development or for residential housing made by the United States or an instrumentality thereof to make such a mortgage loan.

(12) “Fiscal year” means, in the case of DSHA, a period of 12 calendar months beginning and ending on such dates as DSHA shall determine prior to the issuance of its bonds, notes or other obligations pursuant to this chapter, and in the case of the State, shall mean the fiscal year of the State as may at any time be provided by law.

(13) “Governing body” means the city council, town council, commissioners or other legislative body charged with governing the municipality, or county council or Levy Court commissioners or other legislative body charged with governing the county.

(14) “Government” includes the State and federal governments and any subdivision, agency or instrumentality, corporate or otherwise, of either of them.

(15) “Housing development” means living accommodations provided or to be provided pursuant to this chapter for 2 or more families by a housing sponsor.

(16) “Housing development costs” means the sum total of all costs incurred in the development of a housing development, which are approved by DSHA as reasonable and necessary, which costs shall include, but are not necessarily limited to:

a. Cost of land acquisition and any building thereon, including payments for options, deposits or contracts to purchase properties on the proposed housing site or payments for the purchase of such properties;

b. Cost of site preparation, demolition and development;

c. Architectural, engineering, legal, accounting, DSHA and other fees paid or payable in connection with the planning, execution and financing of the housing development;

d. Cost of necessary studies, surveys, plans and permits;

e. Insurance, interest, financing, tax and assessment costs and other operating and carrying costs during construction;

f. Cost of construction, rehabilitation, reconstruction, fixtures, furnishings, equipment, machinery and apparatus related to the real property;

g. Cost of land improvements including, without limitation, landscaping and offsite improvements, whether or not such costs have been paid in cash or in a form other than cash;

h. Necessary expenses in connection with initial occupancy of the housing development;

i. A reasonable profit and risk fee, in addition to job overhead to the general contractor and, if applicable, a limited profit housing sponsor;

j. An allowance established by DSHA for working capital and contingency reserves, and reserves for any anticipated operating deficits during the first 2 years of occupancy;

k. The cost of such other items, including tenant relocation, as DSHA shall determine to be reasonable and necessary for the development of the housing development, less any and all net rents and other net revenues received from the operation of the real and personal property on the development site during construction.

(17) “Housing Director” means the Housing Director appointed pursuant to § 8603 of Title 29.

(18) “Housing sponsor” means individuals, public bodies, joint ventures, partnerships, limited partnerships, trusts, firms, associations or other legal entities or any combination thereof, corporations, cooperatives and condominiums, approved by DSHA, as qualified, either to own, construct, acquire, rehabilitate, operate, manage or maintain a housing development whether nonprofit or organized for limited profit and subject to the regulatory powers of DSHA and other terms and conditions set forth in this chapter.

(19) “Issuing officer” means the Housing Director.

(20) “Land development” means the process of acquiring land for residential housing construction, and of making, installing or constructing nonresidential housing improvements including, without limitation, waterlines and water supply installations, sewer lines and sewage disposal installations, steam, gas and electric lines and installations, roads, streets, curbs, gutters, sidewalks, whether on or off the site, which DSHA deems necessary or desirable to prepare such land for residential housing within this State.

(21) “Local authority or local housing authority” means a housing authority constituted under Chapter 43 of this title.

(22) “Mortgage” means any instrument which secures an obligation and constitutes a lien on real property or on a leasehold under a lease having a remaining term, at the time such mortgage is acquired, which does not expire for at least that number of years beyond the maturity date of the obligation secured by such mortgage as is equal to the number of years remaining until the maturity date of such obligation.

(23) “Mortgage lender” means any bank or trust company, savings bank, national banking association, savings and loan association, Federal National Mortgage Association or Federal Home Loan Mortgage Corporation, approved mortgage banker, building and loan association or any insurance company authorized to transact business in the State.

(24) “Mortgage loan” means an interest-bearing obligation secured by a mortgage, and a note or bond which is a first lien on land and improvements in the State constituting single family or multi-family units.

(25) “Municipality” means any city, town or county in the State.

(26) “Obligee” includes any bondholder, agents or trustees for any bondholders or lessor demising to the property of DSHA used in connection with a project, or any assignee or assignees of such lessor’s interest or any part thereof, and the federal government when it is a party to any contract with DSHA.

(27) “Persons of low- or moderate-income” means persons or families who lack the amount of income which is necessary, as determined by DSHA or the local authority undertaking a project, to enable them without financial assistance to live in decent, safe and sanitary dwellings, without overcrowding.

(28) “Public body” means the State or any municipality, county, township, board, commission, authority, district or any other subdivision or public body of this State.

(29) “Real property” includes all lands, including improvements and fixtures thereon, and property of any nature appurtenant thereto or used in connection therewith, and every estate, interest and right, legal or equitable, therein, including terms for years and liens by way of judgment, mortgage or otherwise and the indebtedness secured by such liens.

(30) “Workable program” means an official community plan of action for using local public and private resources to eliminate and prevent slums and blight and to guide the community’s orderly growth and development.

71 Del. Laws, c. 357, § ?6;