§ 16-17. Definitions.

As used in this article:

Area of operation means the area within the county, incorporated and unincorporated.

Bonds means any bonds, notes, debentures, interim certificates, or other evidences of financial indebtedness issues by the county housing finance authority pursuant to this article.

Housing Finance Authority means the county housing finance authority created pursuant to section 16-18 of this article.

Housing development means any residential building, land, equipment, facility, or other real or personal property which may be necessary, convenient or desirable in connection therewith, including streets, sewers, water and utility services, parks, gardening, administrative, community, health, recreational, and educational facilities, and other facilities related and subordinate to moderate, middle or lesser income housing, and also includes site preparation, the planning of housing and improvements, the acquisition of property, the removal or demolition of existing structures, the acquisition, construction, reconstruction, and rehabilitation of housing and improvements, and all other work in connection therewith, and all costs of financing, including, without limitation, the cost of consultant and legal services, other expenses necessary or incident to determining the feasibility of the housing development and the financing thereof (including reimbursement to any municipality, county or entity for expenditures made with the approval of the housing development), and interest accrued during construction and for a reasonable period thereafter.

Lending institution means any bank or trust company, mortgage banker, savings bank, credit union, national banking association, savings and loan association, building and loan association, insurance company, or other financial institution authorized to transact business in the state and which customarily provides service or otherwise aids in the financing of mortgages located in the state.

Qualifying housing development means any housing development which the housing finance authority finds will assist in alleviating the shortage of housing in the area of operation.

Eligible persons means persons or families, irrespective of race, creed, national origin or sex, determined by the housing finance authority by rule to be of moderate, middle or lesser income requiring such assistance as is made available pursuant to this article on account of insufficient personal or family income and taking into consideration such facts as:

(1)

The amount of the total income of such persons and families available for housing needs.

(2)

The size of the family.

(3)

The cost and condition of available housing facilities.

(4)

The ability of such persons and families to compete successfully in the normal, private housing market and to pay the amounts for which private enterprise is providing sanitary, decent and safe housing.

(5)

If appropriate, the standards established for various federal programs determining eligibility based on income of such persons and families.

(Ord. No. 82-2, § 3, 1-26-82)

Cross reference

Definitions and rules of construction generally, § 1-2.