Certain terms used in OAR chapter 813, division 130, are
defined in the Act, 813-005-0005, and herein. Other
terms may be identified in the text of this division (including by
incorporation), otherwise in chapter 813, or applicable law. As used in OAR
chapter 813, division 130, unless the context indicates otherwise:
(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,
(b)
A community development corporation as defined in ORS
458.210,
(c) A housing authority as defined in ORS
456.005,
(d) A community action agency established
pursuant to the federal Economic Opportunity Act of 1964, which meets the
requirements of ORS 458.505(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.
