§ 12-41. Definitions.

The following words, terms and phrases, when used in this division, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Act means the State Housing Development Authority Act, Public Act No. 346 of 1966 (MCL 125.1401 et seq.).

Authority means the Michigan State Housing Development Authority.

Contract rents are as defined by the U.S. Department of Housing and Urban Development in regulations promulgated pursuant to the U.S. Housing Act of 1937, as amended by the Housing Community Development Act of 1974.

Elderly means those persons 62 years of age or older or who otherwise qualify pursuant to the rules and regulations or practices of the authority for residency in an elderly housing project.

Elderly housing project means a specific parcel of property designed and improved for rental to a low or moderate income individual which qualifies as an elderly housing project under the rules and regulations or standard practices of the state housing development authority to the extent it is occupied by the elderly, excluding one unit for a development manager or caretaker.

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

Mortgage loan means a loan to be made by the authority to the sponsor for the construction and permanent financing of the housing development.

Sponsor means persons or entities which have applied to the authority for a mortgage loan to finance a housing development.

Utilities mean fuel, water, sanitary sewer services and/or electrical service.

(Prior Code, § 1.69)