I. All multi-family housing financed under this chapter shall be subject to the planning, zoning, sanitary and building laws, ordinances and regulations applicable in the municipality in which such multi-family housing is situated. In the planning and location of any multi-family housing, the authority shall take into consideration the relationship of such multi-family housing to any larger plan or long-range program for the development of any such municipality.
II. With the consent of the local governing body of such municipality, the authority may require the eligible mortgagor to enter into an agreement between such municipality and the authority pursuant to which the multi-family housing financed by the authority shall be exempt from local real estate taxes, and the eligible mortgagor shall be required to make payments in lieu of taxes to the state or any political subdivision of the state as the authority finds consistent with the maintenance of the character of such multi-family housing which is occupied by elderly and low income persons and families and for the achievement of the other purposes of this chapter.

Terms Used In New Hampshire Revised Statutes 204-C:51

  • Authority: shall mean the New Hampshire housing finance authority. See New Hampshire Revised Statutes 204-C:1
  • Elderly: shall mean a person who qualifies to live in housing for older persons, as defined in N. See New Hampshire Revised Statutes 204-C:1
  • Eligible mortgagor: shall mean any individual, joint venture, partnership, limited partnership, trust, firm, association, corporation, cooperative, condominium association, governmental agency, or other legal entity, or any combination thereof approved by the authority as qualified to own, construct, acquire, rehabilitate, operate, manage or maintain housing whether organized for profit, limited profit or nonprofit purposes, in each case subject to the rules of the authority and the provisions of this chapter. See New Hampshire Revised Statutes 204-C:1
  • Governing body: shall mean in a city that governing body which is designed as such by the charter of the particular city; in a town, the board of selectmen. See New Hampshire Revised Statutes 204-C:1
  • Housing: shall mean one or more new or existing dwelling units in the state financed pursuant to this chapter, including homes for persons with disabilities, mobile homes, prefabricated homes, any buildings, land, improvements, equipment, facilities or other real or personal properties which are deemed by the authority to be necessary, convenient, ancillary or desirable in connection with such dwelling units, and including, but not limited to, streets, sewers, utilities, parks, site preparation, off-site facilities, landscaping and other nonhousing facilities such as administrative, community, transportation, health, recreational, educational, commercial, retail, welfare and public facilities. See New Hampshire Revised Statutes 204-C:1
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Multi-family housing: shall mean housing consisting of 5 or more units. See New Hampshire Revised Statutes 204-C:1
  • Municipality: shall mean any city or town in this state. See New Hampshire Revised Statutes 204-C:1
  • real estate: shall include lands, tenements, and hereditaments, and all rights thereto and interests therein. See New Hampshire Revised Statutes 21:21
  • state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
  Previous
Next  
 Chapter 204-C Contents