Maine Revised Statutes Title 30-A Sec. 5250-C – Grants
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Terms Used In Maine Revised Statutes Title 30-A Sec. 5250-C
- Affordable housing: means a decent, safe and sanitary dwelling, apartment or other living accommodation for a household whose income does not exceed 120% of the median income for the area as defined by the United States Department of Housing and Urban Development under the United States Housing Act of 1937, Public Law 75-412, 50 Stat. See Maine Revised Statutes Title 30-A Sec. 5246
- district: means a specified area within the corporate limits of a municipality that has been designated as provided under sections 5247 and 5250 to be developed under an affordable housing development program and financed under section 5250?A. See Maine Revised Statutes Title 30-A Sec. 5246
- Municipality: means a city or town, except as provided in chapter 225. See Maine Revised Statutes Title 30-A Sec. 2001
- Tax increment: means real property taxes assessed by a municipality, in excess of any state, county or special district tax, upon the increased assessed value of property in the affordable housing development district. See Maine Revised Statutes Title 30-A Sec. 5246
A municipality may receive grants or gifts for any of the purposes of this subchapter. The tax increment revenues within an affordable housing development district may be used as the local match for certain grant programs. [PL 2003, c. 426, §1 (NEW).]
SECTION HISTORY
PL 2003, c. 426, §1 (NEW).