For the purposes of this article, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
ACT. The State Housing Development Authority Act, being Public Act 346 of 1966 of the State of Michigan, being M.C.L.A. §§ 125.1401 et seq., as amended.
ANNUAL SHELTER RENT. The total collections during an agreed annual period from or paid on behalf of all low income persons, as defined herein, of the housing development project, representing rent or occupancy charges, exclusive of charges for utilities, as defined herein.
AUTHORITY. The Michigan State Housing Development Authority.
CITY. The City of Charlotte, a Michigan municipal corporation.
COMMENCEMENT OF CONSTRUCTION. The commencement of the housing development, as defined herein.
HOUSING DEVELOPMENT PROJECT. The project being constructed at the housing development location, consisting of a building to include qualified low income residential apartment units, including approximately 50 units reserved for low income persons and such recreational, industrial, communal and educational facilities as the sponsor and/or Authority determine will improve the quality of the housing development project as it relates to housing for senior persons.
HOUSING DEVELOPMENT LOCATION. Lots 7, 8, 11, 12, 15, 16 and the west 30 feet 6 inches of Lot 17, the dividing line being the center of a block wall, and the vacated alley south of Lot 15 and the west 1/2 of the vacated alley adjacent to Lots 7, 8, 11,
12 and 15 of the Cummings Subdivision to the original plat, City of Charlotte, Michigan and Lots 9, 10, 13, 14, the east 11 feet 1/5 inches of Lot 17, the dividing line being the center of a block wall, Lots 18, 19, 20, the vacated alley south of Lot 14 and the east 1/2 of the vacated alley adjacent to Lots 9, 10, 13 and 14 of the Cummings Subdivision to the original plat, City of Charlotte, Michigan.
LOW INCOME PERSONS. Senior persons eligible to move into the housing development project pursuant to the Act and the Authority.
MORTGAGE LOAN. A loan to be made by the Authority to the sponsor for the construction and/or permanent financing of the housing development.
SENIOR PERSONS. Single persons who are 55 years of age or older or a household in which at least one member is 55 years of age.
SPONSOR. The Edmond Senior Apartments Limited Dividend Housing Association Limited Partnership, 333 North Pennsylvania Street, Suite 100, Indianapolis, Indiana, who shall act as the owner of the housing development project.
UTILITIES. Fuel, water, heat sanitary sewer service and/or electrical service furnished to the occupants which are paid by the housing development project.
(Ord. 2017-01, passed 2-27-2017; Ord. 2020-09, passed 12-14-2020)