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Terms Used In Utah Code 17C-1-412

  • Board: means the governing body of an agency, as described in Section 17C-1-203. See Utah Code 17C-1-102
  • Community: means a county or municipality. See Utah Code 17C-1-102
  • 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.
  • Development impediment: means a condition of an area that meets the requirements described in Section 17C-2-303 for an urban renewal project area or Section 17C-5-405 for a community reinvestment project area. See Utah Code 17C-1-102
  • Fair share ratio: means the ratio derived by:
         (24)(a) for a municipality, comparing the percentage of all housing units within the municipality that are publicly subsidized income targeted housing units to the percentage of all housing units within the county in which the municipality is located that are publicly subsidized income targeted housing units; or
         (24)(b) for the unincorporated part of a county, comparing the percentage of all housing units within the unincorporated county that are publicly subsidized income targeted housing units to the percentage of all housing units within the whole county that are publicly subsidized income targeted housing units. See Utah Code 17C-1-102
  • Housing allocation: means project area funds allocated for housing under Section 17C-2-203, 17C-3-202, or 17C-5-307 for the purposes described in Section 17C-1-412. See Utah Code 17C-1-102
  • Housing fund: means a fund created by an agency for purposes described in Section 17C-1-411 or 17C-1-412 that is comprised of:
         (29)(a) project area funds, project area incremental revenue as defined in Section 17C-1-1001, or property tax revenue as defined in Section 17C-1-1001 allocated for the purposes described in Section 17C-1-411; or
         (29)(b) an agency's housing allocation. See Utah Code 17C-1-102
  • Income targeted housing: means housing that is:
         (32)(a) owned and occupied by a family whose annual income is at or below 120% of the median annual income for a family within the county in which the housing is located; or
         (32)(b) occupied by a family whose annual income is at or below 80% of the median annual income for a family within the county in which the housing is located. See Utah Code 17C-1-102
  • Land: includes :
         (18)(a) land;
         (18)(b) a tenement;
         (18)(c) a hereditament;
         (18)(d) a water right;
         (18)(e) a possessory right; and
         (18)(f) a claim. See Utah Code 68-3-12.5
  • Loan fund board: means the Olene Walker Housing Loan Fund Board, established under Title 35A, Chapter 8, Part 5, Olene Walker Housing Loan Fund. See Utah Code 17C-1-102
  • Major transit investment corridor: means the same as that term is defined in Section 10-9a-103. See Utah Code 17C-1-102
  • Person: means :
         (24)(a) an individual;
         (24)(b) an association;
         (24)(c) an institution;
         (24)(d) a corporation;
         (24)(e) a company;
         (24)(f) a trust;
         (24)(g) a limited liability company;
         (24)(h) a partnership;
         (24)(i) a political subdivision;
         (24)(j) a government office, department, division, bureau, or other body of government; and
         (24)(k) any other organization or entity. See Utah Code 68-3-12.5
  • Project area: means the geographic area described in a project area plan within which the project area development described in the project area plan takes place or is proposed to take place. See Utah Code 17C-1-102
  • Project area budget: means a multiyear projection of annual or cumulative revenues and expenses and other fiscal matters pertaining to a project area prepared in accordance with:
         (47)(a) for an urban renewal project area, Section 17C-2-201;
         (47)(b) for an economic development project area, Section 17C-3-201;
         (47)(c) for a community development project area, Section 17C-4-204; or
         (47)(d) for a community reinvestment project area, Section 17C-5-302. See Utah Code 17C-1-102
  • Project area development: means activity within a project area that, as determined by the board, encourages, promotes, or provides development or redevelopment for the purpose of implementing a project area plan, including:
         (48)(a) promoting, creating, or retaining public or private jobs within the state or a community;
         (48)(b) providing office, manufacturing, warehousing, distribution, parking, or other facilities or improvements;
         (48)(c) planning, designing, demolishing, clearing, constructing, rehabilitating, or remediating environmental issues;
         (48)(d) providing residential, commercial, industrial, public, or other structures or spaces, including recreational and other facilities incidental or appurtenant to the structures or spaces;
         (48)(e) altering, improving, modernizing, demolishing, reconstructing, or rehabilitating existing structures;
         (48)(f) providing open space, including streets or other public grounds or space around buildings;
         (48)(g) providing public or private buildings, infrastructure, structures, or improvements;
         (48)(h) relocating a business;
         (48)(i) improving public or private recreation areas or other public grounds;
         (48)(j) eliminating a development impediment or the causes of a development impediment;
         (48)(k) redevelopment as defined under the law in effect before May 1, 2006; or
         (48)(l) any activity described in this Subsection (48) outside of a project area that the board determines to be a benefit to the project area. See Utah Code 17C-1-102
  • Public entity: means :
         (53)(a) the United States, including an agency of the United States;
         (53)(b) the state, including any of the state's departments or agencies; or
         (53)(c) a political subdivision of the state, including a county, municipality, school district, special district, special service district, community reinvestment agency, or interlocal cooperation entity. See Utah Code 17C-1-102
  • Tax increment: means the difference between:
              (61)(a)(i) the amount of property tax revenue generated each tax year by a taxing entity from the area within a project area designated in the project area plan as the area from which tax increment is to be collected, using the current assessed value of the property and each taxing entity's current certified tax rate as defined in Section 59-2-924; and
              (61)(a)(ii) the amount of property tax revenue that would be generated from that same area using the base taxable value of the property and each taxing entity's current certified tax rate as defined in Section 59-2-924. See Utah Code 17C-1-102
     (1)(a) An agency shall use the agency’s housing allocation to:

          (1)(a)(i) pay part or all of the cost of land or construction of income targeted housing within the boundary of the agency, if practicable in a mixed income development or area;
          (1)(a)(ii) pay part or all of the cost of rehabilitation of income targeted housing within the boundary of the agency;
          (1)(a)(iii) lend, grant, or contribute money to a person, public entity, housing authority, private entity or business, or nonprofit corporation for income targeted housing within the boundary of the agency;
          (1)(a)(iv) plan or otherwise promote income targeted housing within the boundary of the agency;
          (1)(a)(v) pay part or all of the cost of land or installation, construction, or rehabilitation of any building, facility, structure, or other housing improvement, including infrastructure improvements, related to housing located in a project area where a board has determined that a development impediment exists;
          (1)(a)(vi) replace housing units lost as a result of the project area development;
          (1)(a)(vii) make payments on or establish a reserve fund for bonds:

               (1)(a)(vii)(A) issued by the agency, the community, or the housing authority that provides income targeted housing within the community; and
               (1)(a)(vii)(B) all or part of the proceeds of which are used within the community for the purposes stated in Subsection (1)(a)(i), (ii), (iii), (iv), (v), or (vi);
          (1)(a)(viii) if the community’s fair share ratio at the time of the first adoption of the project area budget is at least 1.1 to 1.0, make payments on bonds:

               (1)(a)(viii)(A) that were previously issued by the agency, the community, or the housing authority that provides income targeted housing within the community; and
               (1)(a)(viii)(B) all or part of the proceeds of which were used within the community for the purposes stated in Subsection (1)(a)(i), (ii), (iii), (iv), (v), or (vi);
          (1)(a)(ix) relocate mobile home park residents displaced by project area development;
          (1)(a)(x) subject to Subsection (7), transfer funds to a community that created the agency; or
          (1)(a)(xi) pay for or make a contribution toward the acquisition, construction, or rehabilitation of housing that:

               (1)(a)(xi)(A) is located in the same county as the agency;
               (1)(a)(xi)(B) is owned in whole or in part by, or is dedicated to supporting, a public nonprofit college or university; and
               (1)(a)(xi)(C) only students of the relevant college or university, including the students’ immediate families, occupy.
     (1)(b) As an alternative to the requirements of Subsection (1)(a), an agency may pay all or any portion of the agency’s housing allocation to:

          (1)(b)(i) the community for use as described in Subsection (1)(a);
          (1)(b)(ii) a housing authority that provides income targeted housing within the community for use in providing income targeted housing within the community;
          (1)(b)(iii) a housing authority established by the county in which the agency is located for providing:

               (1)(b)(iii)(A) income targeted housing within the county;
               (1)(b)(iii)(B) permanent housing, permanent supportive housing, or a transitional facility, as defined in Section 35A-5-302, within the county; or
               (1)(b)(iii)(C) homeless assistance within the county;
          (1)(b)(iv) the Olene Walker Housing Loan Fund, established under Title 35A, Chapter 8, Part 5, Olene Walker Housing Loan Fund, for use in providing income targeted housing within the community;
          (1)(b)(v) pay for or make a contribution toward the acquisition, construction, or rehabilitation of income targeted housing that is outside of the community if the housing is located along or near a major transit investment corridor that services the community and the related project has been approved by the community in which the housing is or will be located;
          (1)(b)(vi) pay for or make a contribution toward the acquisition, construction, or rehabilitation of income targeted housing that is outside of the community if there is an interlocal agreement between the agency and the receiving community; or
          (1)(b)(vii) pay for or make a contribution toward the expansion of child care facilities within the boundary of the agency, provided that any recipient of funds from the agency’s housing allocation reports annually to the agency on how the funds were used.
(2)

     (2)(a) An agency may combine all or any portion of the agency’s housing allocation with all or any portion of one or more additional agency’s housing allocations if the agencies execute an interlocal agreement in accordance with Title 11, Chapter 13, Interlocal Cooperation Act.
     (2)(b) An agency that has entered into an interlocal agreement as described in Subsection (2)(a), meets the requirements of Subsection (1)(a) or (1)(b) if the use of the housing allocation meets the requirements for at least one agency that is a party to the interlocal agreement.
(3) The agency shall create a housing fund and separately account for the agency’s housing allocation, together with all interest earned by the housing allocation and all payments or repayments for loans, advances, or grants from the housing allocation.
(4) An agency may:

     (4)(a) issue bonds to finance a housing-related project under this section, including the payment of principal and interest upon advances for surveys and plans or preliminary loans; and
     (4)(b) issue refunding bonds for the payment or retirement of bonds under Subsection (4)(a) previously issued by the agency.
(5)

     (5)(a) Except as provided in Subsection (5)(b), an agency shall allocate money to the housing fund each year in which the agency receives sufficient tax increment to make a housing allocation required by the project area budget.
     (5)(b) Subsection (5)(a) does not apply in a year in which tax increment is insufficient.
(6)

     (6)(a) Except as provided in Subsection (5)(b), if an agency fails to provide a housing allocation in accordance with the project area budget and the housing plan adopted under Subsection 17C-2-204(2), the loan fund board may bring legal action to compel the agency to provide the housing allocation.
     (6)(b) In an action under Subsection (6)(a), the court:

          (6)(b)(i) shall award the loan fund board reasonable attorney fees, unless the court finds that the action was frivolous; and
          (6)(b)(ii) may not award the agency the agency’s attorney fees, unless the court finds that the action was frivolous.
(7) For the purpose of offsetting the community’s annual local contribution to the Homeless Shelter Cities Mitigation Restricted Account, the total amount an agency transfers in a calendar year to a community under Subsections (1)(a)(x), 17C-1-409(1)(a)(v), and 17C-1-411(1)(d) may not exceed the community’s annual local contribution as defined in Subsection 59-12-205(4).
(8) An agency shall spend, encumber, or allot the money contributed to the housing fund under Subsection (5)(a) within six years from the day on which the agency first receives the money.

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