OAR 813-130-0010
Definitions
(1)
“Affordability period” means the period during which a project assisted with HELP funds must remain affordable to very low income residents, which period shall be at least 10 years from the date of the use agreement executed in favor of the department.(2)
“Annual household income” means the anticipated total income from all sources received by the family head and by each additional member of the family of 18 years of age and over, including all net income derived from assets for the twelve-month period following the effective date of certification of income, in accordance with HUD regulations, 24 CFR 813.(3)
“Applicant” means an applicant for HELP funds.(4)
“Household” means one or more persons occupying a housing unit.(5)
“HUD” means the U.S. Department of Housing and Urban Development.(6)
“Low income” means annual household income that does not exceed 80 percent of the median household income for the area, as determined by HUD, with allowances for family size.(7)
“Nonprofit organization” means:(a)
An organization that has obtained tax-exempt status under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and is established under the provisions of ORS Chapter 65 (Nonprofit Corporations),(b)
A community development corporation as defined in ORS 458.210 (Community development corporations),(c)
A housing authority as defined in ORS 456.005 (Definitions for ORS chapters 456 and 458),(d)
A community action agency established pursuant to the federal Economic Opportunity Act of 1964, which meets the requirements of ORS 458.505 (Community action agency network as delivery system for federal antipoverty programs)(4), or(e)
Other nonprofit entity satisfactory to the department and representing or seeking to serve the housing, human services and community economic revitalization needs of a clearly-defined population and area.(8)
“Program” means the HELP program.(9)
“Project” means a multifamily rental housing development assisted or to be assisted, in part, with HELP program funds.(10)
“Recipient” means a recipient of HELP funds to be used for project assistance.(11)
“Use agreement” means the Financing Adjustment Factor Savings Funds Use Agreement between a recipient and the department.(12)
“Very low income” means annual household income that does not exceed 50 percent of the median household income for the area, as determined by HUD, with allowances for family size.
Source:
Rule 813-130-0010 — Definitions, https://secure.sos.state.or.us/oard/view.action?ruleNumber=813-130-0010.