Utah Code 11-25-3. Definitions
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As used in this chapter:
(1) “Agency” means a community reinvestment agency functioning pursuant to Title 17C, Limited Purpose Local Government Entities – Community Reinvestment Agency Act.
Terms Used In Utah Code 11-25-3
- 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
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- 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
- Residential rehabilitation area: means the geographical area designated by the agency as one for inclusion in a comprehensive residential rehabilitation financing program pursuant to the provisions of this chapter. See Utah Code 11-25-3
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2) “Bonds” mean any bonds, notes, interim certificates, debentures, or other obligations issued by an agency pursuant to this part and which are payable exclusively from the revenues, as defined in Subsection (10), and from any other funds specified in this part upon which the bonds may be made a charge and from which they are payable.(3)(3)(a) “Citizen participation” means action by the agency to provide persons who will be affected by residential rehabilitation financed under the provisions of this part with opportunities to be involved in planning and carrying out the residential rehabilitation program. “Citizen participation” shall include, but not be limited to, all of the following:(3)(a)(i) Holding a public meeting prior to considering selection of the area for designation.(3)(a)(ii) Consultation with representatives of owners of property in, and residents of, a residential rehabilitation area, in developing plans for public improvements and implementation of the residential rehabilitation program.(3)(a)(iii) Dissemination of information relating to the time and location of meetings, boundaries of the proposed residential rehabilitation area, and a general description of the proposed residential rehabilitation program.(3)(b)(3)(b)(i) Public meetings and consultations described in Subsection (3)(a) shall be conducted by an official designated by the agency.(3)(b)(ii) Public meetings shall be held at times and places convenient to residents and property owners.(4) “Financing” means the lending of money or any other thing of value for the purpose of residential rehabilitation.(5) “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. No elective officer of the state or any of its political subdivisions shall be eligible to be a participating party under the provision of this part.(6) “Rehabilitation standards” mean the applicable local or state standards for the rehabilitation of buildings located in residential rehabilitation areas, including any higher standards adopted by the agency as part of its residential rehabilitation financing program.(7) “Residence” means a residential structure in residential rehabilitation areas. It also means a commercial structure which, in the judgment of the agency, is an integral part of a residential neighborhood.(8) “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.(9) “Residential rehabilitation area” means the geographical area designated by the agency as one for inclusion in a comprehensive residential rehabilitation financing program pursuant to the provisions of this chapter.(10) “Revenues” mean all amounts received as repayment of principal, interest, and all other charges received for, and all other income and receipts derived by, the agency from the financing of residential rehabilitation, including money deposited in a sinking, redemption, or reserve fund or other fund to secure the bonds or to provide for the payment of the principal of, or interest on, the bonds and such other money as the legislative body may, in its discretion, make available therefor.