§ 46-198. Definitions.  


Latest version.
  • All terms shall be defined as set forth in the State Housing Development Authority Act of 1966, being Public Act 346 of 1966, of the State of Michigan, as amended, except as follows:

    (a)

    Authority means the Michigan State Housing Development Authority.

    (b)

    Act means the State Housing Development Authority Act, being public Act 346 of 1966, of the State of Michigan, as amended.

    (c)

    Annual shelter rent means the total collection during an agreed annual period from all occupants of a housing development representing rent or occupancy charges.

    (d)

    Housing development means a development which contains a significant element of housing for persons of low income and such elements of other housing, social, commercial, recreational and communal facilities as the authority determines improve the quality of the development as it relates to housing for persons of low income.

    (e)

    Elderly means a single person who is 55 years of age or older or a household in which at least one member is 55 years of age or older and all other members are 50 years of age or older.

    (f)

    Mortgage loan means a federally-aided loan as that term is defined in the act or loan or grant made by the authority, for the construction, rehabilitation, acquisition and/or permanent financing of a housing project, and secured by a mortgage on the housing project.

    (g)

    Utilities means gas, water, sanitary sewer service, and/or electrical services which are paid by the housing development.

    (h)

    Sponsor means person(s) or entities which have applied for and receive from the authority for an allocation of low income housing tax credits to finance a housing development.

(Ord. No. 1997-10, § 11½-72, 6-16-97; Ord. No. 2012-7, § 3, 5-21-12)