All terms shall be defined as set forth in the State Housing Development Authority Act of 1966, of the State of Michigan, as amended, except as follows.
ACT. The State Housing Development Authority Act, being Public Act 346 of 1966, of the State of Michigan, as amended.
ANNUAL SHELTER RENT. The total collections during a calendar year from all occupants of a housing development representing rent for occupancy charges, exclusive of charges for gas, electricity, heat or other utilities furnished to the occupants.
AUTHORITY. The Michigan State Housing Development Authority.
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 persons of low income.
ELDERLY. A single person who is 55 years of age or older or a household in which at least one member is 55 years of age and all other members are 50 years of age or older.
SPONSOR. Persons or entities which have applied to the Authority for an allocation under the Low Income Housing Tax Credit Program to finance a Housing Development.
UTILITIES. Fuel, water, sanitary sewer and electrical service which are paid by the Housing Development.
(Ord. 237, passed 11-16-98)