For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
LOW AND MODERATE INCOME HOUSING. Housing, the construction or rehabilitation of which is aided or assisted in any way by any federal or state statute, which housing is subject to regulation or supervision of rents, charges or sales prices and methods of operation by a governmental agency under a regulatory agreement or other instrument which restricts occupancy of such housing to persons or families whose incomes do not exceed prescribed limits, and shall be deemed to include the land on which such housing is situated.
OWNER. A person or persons, partnership, joint venture or corporation who or which has executed, or will execute, a regulatory agreement or other instrument with a governmental agency which limits occupancy of the low and moderate income housing owned or to be owned by such person or persons, partnership, joint venture or corporation to persons or families whose incomes do not exceed prescribed limits.
(Ord. passed 4-6-1976)
Editor’s note:
TM Volume 12, page 220