Utah Code 11-25-18. Financing provided to participating parties — Agreements — Contents
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Terms Used In Utah Code 11-25-18
- Agency: means a community reinvestment agency functioning pursuant to Title 17C, Limited Purpose Local Government Entities - Community Reinvestment Agency Act. See Utah Code 11-25-3
- Financing: means the lending of money or any other thing of value for the purpose of residential rehabilitation. See Utah Code 11-25-3
- Participating party: means any person, company, corporation, partnership, firm, agency, political subdivision of the state, or other entity or group of entities requiring financing for residential rehabilitation pursuant to the provisions of this part. See Utah Code 11-25-3
- Residential rehabilitation: means the construction, reconstruction, renovation, replacement, extension, repair, betterment, equipping, developing, embellishing, or otherwise improving residences consistent with standards of strength, effectiveness, fire resistance, durability, and safety, so that the structures are satisfactory and safe to occupy for residential purposes and are not conducive to ill health, transmission of disease, infant mortality, juvenile delinquency, or crime because of any one or more of the following factors:(8)(a) defective design and character of physical construction;(8)(b) faulty interior arrangement and exterior spacing;(8)(c) high density of population and overcrowding;(8)(d) inadequate provision for ventilation, light, sanitation, open spaces, and recreation facilities;(8)(e) age, obsolescence, deterioration, dilapidation, mixed character, or shifting of uses; and(8)(f) economic dislocation, deterioration, or disuse, resulting from faulty planning. See Utah Code 11-25-3
The agency may provide financing to any participating party for the purpose of residential rehabilitation authorized pursuant to a comprehensive residential rehabilitation financing program. All agreements for this financing shall provide that the design of the residential rehabilitation shall be subject to such standards as may be established by the agency and that the work of such residential rehabilitation shall be subject to such supervision as the agency deems necessary.