§ 27-38. Definitions.

(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 rents means the total collections during an agreed annual period from all occupants of a housing development representing rents or occupancy charges exclusive of charges for gas, electricity, heat or other utilities furnished to the occupants.

(d)

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.

(e)

HUD means the Department of Housing and Urban Development of the United States Government.

(f)

Persons of low income means persons and families eligible to move into a housing development.

(g)

Mortgage loan means a loan to be made by the authority or Farmers Home Administration or the Department of Housing and Urban Development to the sponsor for the construction and permanent financing of the housing development or a mortgage loan insured by HUD.

(h)

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

(i)

Sponsor means persons or entities which have applied to either the authority for a mortgage loan to finance a housing development or to another governmental entity for a federally-aided loan, as defined by the Act.

(Ord. No. 342, § 3, 7-13-98; Ord. No. 346, § 3, 1-25-99)