When used in this chapter, unless the context otherwise
requires:
"Activity" means one or more specific housing
activities, projects or programs assisted through the HOME investment
partnerships program.
"Administrative plan" means a document that a
HOME recipient establishes that describes the operation of a funded activity in
compliance with all state and federal requirements.
"Affordability period" means the length of
time a recipient or subrecipient must impose the rent or occupancy income
restrictions on the units assisted by HOME funds as established by federal
program requirements.
"CHDO" means a community housing development
organization, which is a nonprofit organization registered with the Iowa
secretary of state and certified as such by IFA, pursuant to
24
CFR 92.2 (July 24, 2013).
"Consolidated plan" means the state's housing
and community development planning document and the annual action plan update
approved by HUD.
"Contract" means a binding written agreement
between IFA and the recipient or subrecipient for the purpose of utilizing HOME
funds to build, buy or rehabilitate (or both buy and rehabilitate) affordable
housing for rent or homeownership or to provide direct rental assistance to
low-income people.
"HOME" means the HOME Investment Partnerships
Program, authorized by the Cranston-Gonzalez National Affordable Housing Act of
1990.
"HUD" means the U.S. Department of Housing and
Urban Development.
"IFA" means the Iowa finance authority.
"Low-income" means families whose annual
incomes do not exceed 80 percent of the median income for the area, as
determined by HUD. An individual does not qualify as a low-income family if the
individual is enrolled as a student at an institution of higher education; is
under 24 years of age; is not a veteran of the United States military; is
unmarried; does not have a dependent child; and is not otherwise individually
low-income or does not have parents who qualify as low-income.
"Program income" means gross income received
by the participating jurisdiction, state recipient, or a subrecipient directly
generated from the use of HOME funds or matching contributions.
"Project" means a site or sites together with
any building (including a manufactured housing unit) or buildings located on
the site(s) that are under common ownership, management, and financing and are
to be assisted with HOME funds as a single undertaking. The project includes
all the activities associated with the site and building. For tenant-based
rental assistance, project means assistance to one or more families.
"Recaptured funds" means HOME funds which are
recouped by the recipient when the housing unit assisted by the HOME program
homebuyer funds does not continue to be the principal residence of the assisted
homebuyer for the full affordability period.
"Recipient" means the entity under contract
with IFA to receive HOME funds and undertake the funded housing
activity.
"Repayment" means HOME funds which the
recipient shall repay to IFA because the funds were invested in a project or
activity that is terminated before completion or were invested in a project or
activity which failed to comply with federal program requirements.
"Subrecipient" means a public agency or
nonprofit organization selected by IFA to administer all or a portion of an
activity to produce affordable housing, provide down payment assistance, or
provide tenant-based rental assistance under the HOME program. A public agency
or nonprofit organization that receives HOME funds solely as a developer or
owner of housing is not a subrecipient. The selection of a subrecipient by IFA
is not subject to the procurement procedures and requirements under federal or
state law.
Notes
Iowa Admin. Code
r. 265-39.2
ARC 8963B, IAB 7/28/10,
effective 7/8/10; ARC 9284B, IAB 12/15/10, effective 1/19/11; ARC 9764B, IAB
10/5/11, effective 11/9/11; ARC 0500C, IAB 12/12/12, effective 11/19/12; ARC
1140C, IAB 10/30/2013, effective 12/4/2013
Amended by
IAB
October 25, 2017/Volume XL, Number 9, effective
11/29/2017
