For the purpose of this chapter, the following definitions shall apply, unless the context clearly indicates or requires a different meaning.
   ACT. The State Housing Development Authority Act, Public Act 346 of 1966, as amended, being M.C.L.A. 125.1401 et seq.
   ANNUAL SHELTER RENTS. The total collections during an agreed annual period from all occupants of a housing development representing rents or occupancy charges exclusive of charges for gas, electricity, heat or other utilities furnished to the occupants.
   AUTHORITY. The Michigan State Housing Development Authority.
   CONTRACT-RENTS. As defined by the U.S. Department of Housing and Urban Development in regulations promulgated pursuant to Section 8 of the U.S. Housing Act of 19317, as amended.
   ELDERLY. A single person who is 55 years of age or older or a household in which a least one member is 55 years of age or older and all other members are 50 years of age or older.
   ELDERLY PERSONS OF LOW INCOME. Elderly persons who meet the eligibility criteria set by the AUTHORITY and/or federal government.
   HOUSING DEVELOPMENT. A development which contains a significant element of housing for ELDERLY PERSONS OF LOW INCOME /persons of low income and any elements of other housing, commercial, recreational, industrial, communal, and educational facilities as the AUTHORITY determines improve the quality of the development as it relates to housing for persons of low income.
   HUD. The Department of Housing and Urban Development of the United States Government.
   MORTGAGE LOAN. A loan to be made by the Authority or Farmers Home Administration or the Department of Housing and Urban Development to the SPONSOR for the construction and permanent financing of the Housing Development, or a MORTGAGE LOAN insured by HUD .
   PERSONS OF LOW INCOME. Persons and families eligible to move into a Housing Development.
   SPONSOR. Persons or entities which have applied to either the Authority for a MORTGAGE LOAN to finance a Housing Development or to another governmental entity for a federally-aided loan, as defined by the ACT .
   UTILITIES. Fuel, water, sanitary sewer service and/or electrical service which are paid by the Housing Development.
(Ord. 291, passed 6-15-98)