ACT. The State Housing Development Act, being Public Act 346 of 1966, of the State of Michigan, as amended.
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 the U.S. Housing Act of 1937, as amended by the Housing and Community Development Act of 1974. In the event a project is not assisted by the HUD Section 8 Program, this term shall mean the total of all rents collected from or paid on behalf of the tenants of the project.
HOUSING DEVELOPMENT. A development which contains a significant element of housing for persons of low income and such 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 United States Department of Housing and Urban Development.
SPONSOR. Persons or entities which have applied to the authority or HUD for a mortgage loan or mortgage loan insurance or other assistance so as to qualify such a loan as an Authority-added mortgage or a federally-added mortgage as defined in the Act.
UTILITIES. Fuel, water, sanitary sewer service, and/or electrical service which are paid by the development.
(Ord. 2621, passed 1-23-1978; Ord. 3010, passed 10-13-1986; Ord. 3808, passed 11-28-2011)
State Housing Development Authority Act of 1966, see MCLA 125.1401 et seq.