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For the purpose of §§ 14-17-1 et seq., the following definitions shall apply unless the context clearly indicates or requires a different meaning.
FAMILY AFFORDABLE OWNERSHIP UNIT. A dwelling unit in a family housing development that serves a homeowner whose annualized income is at or below 80% of the median gross income for the city, adjusted for family size and as determined by the U.S. Department of Housing and Urban Development (HUD), and whose monthly housing payment cannot exceed 33% of the homeowners gross monthly income under city eligibility standards.
FAMILY HOUSING AGREEMENT. A contractual agreement that commits the developer and/or builder, in exchange for specific development incentives, to producing a subdivision in which at least 20% of the units are family affordable ownership units and to meeting the rules and regulations of the family housing development program.
FAMILY HOUSING DEVELOPMENT (FHD). A residential development designed to provide for the development of family affordable ownership units in combination with market rate housing, in accordance with the requirements for such development in this article.
INFILL AREA. The area located within the January 1, 1960 boundary limits of City of Albuquerque.
Editor's Note: Map is available on file in the City Clerk's Office.
QUALIFIED HOME BUYER. A home buyer whose income is 80% or less of the median gross income for the city, adjusted for family size and as determined by the U.S. Department of Housing and Urban Development (HUD), and who meets other eligibility requirements as established in the rules and regulations.
WATER SERVICE AREA. The area for which city water service is available.