The following terms, wherever used or referred to in this chapter, shall have the following respective meanings, unless a different meaning clearly appears from the context:
"Board"means the Board of Commissioners of the Authority.
"Homebuyer"means a person(s) who has executed a lease-purchase agreement with the Authority, and who has not yet achieved homeownership.
"Housing project" or "project"means any work or undertaking to provide or assist in providing, by any suitable method, including but not limited to: rental; sale of individual units in single- or multifamily structures under conventional condominium, or cooperative sales contracts or lease-purchase agreement; loans; or subsidizing of rentals or charges, decent, safe and sanitary dwellings, apartments, or other living accommodations for persons of low income.
Such work or undertaking may include buildings, land, leaseholds, equipment, facilities, and other real or personal property for necessary, convenient, or desirable appurtenances, for streets, sewers, water service, utilities, parks, site preparation or landscaping, and for administrative, community, health, recreational, welfare, or other purposes.The term "housing project" or "project" also may be applied to the planning of the buildings and improvements, the acquisition of property or any interest therein, the demolition of existing structures, the construction, reconstruction, rehabilitation, alteration or repair of the improvements or other property and all other work in connection therewith, and the term shall include all other real and personal property and all tangible or intangible assets held or used in connection with the housing project.
"Obligations"means any notes, bonds, interim certificates, debentures, or other forms of obligation issued by the Authority pursuant to this chapter.
"Obligee"includes any holder of an obligation, agent or trustee for any holder of an obligation, or lessor demising to the Authority property used in connection with a project, or any assignee or assignees of such lessor's interest or any part thereof, and the Federal government when it is a party to any contract with the Authority in respect to a housing project.
"Persons of low income"means persons or families who cannot afford to pay enough to cause private enterprise in their locality to build an adequate supply of decent, safe, and sanitary dwellings for their use.
(Prior code § 10.1.1.020; Ord. 1978-1; Res. 2006-63; Res. 2011-020; Res. 2016-17)