35A-8-501. Definitions. As used in this part:
(1) |
“Affordable housing” means housing occupied or reserved for occupancy by households whose incomes are at or below certain income requirements at rental rates affordable to such households. |
Terms Used In Utah Code 35A-8-501
- Affordable housing: means housing occupied or reserved for occupancy by households whose incomes are at or below certain income requirements at rental rates affordable to such households. See Utah Code 35A-8-501
- Board: means the Housing Board created by this part. See Utah Code 35A-8-501
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fund: means the Olene Walker Housing Loan Fund created by this part. See Utah Code 35A-8-501
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means :Utah Code 68-3-12.5
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2) |
“Board” means the Housing Board created by this part. |
(3) |
“Fund” means the Olene Walker Housing Loan Fund created by this part. |
(4) |
(a) |
“Housing sponsor” means a person who constructs, develops, rehabilitates, purchases, or owns a housing development that is or will be subject to legally enforceable restrictive covenants that require the housing development to provide, at least in part, affordable housing. |
(b) |
“Housing sponsor” may include:
(ii) |
a nonprofit, limited profit, or for profit corporation; |
(iii) |
a limited partnership; |
(iv) |
a limited liability company; |
(vi) |
a subsidiary of the Utah Housing Corporation; |
(viii) |
a mutual housing organization; |
(x) |
a local housing authority; |
(xi) |
a regional or statewide nonprofit housing or assistance organization; or |
(xii) |
any other entity that helps provide affordable housing. |
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(5) |
“Rural” means a county in the state other than Utah, Salt Lake, Davis, or Weber. |
Amended by Chapter 279, 2017 General Session