Utah Code 35A-8-501. Definitions
Current as of: 2024 | Check for updates
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As used in this part:
(1) “Affordable housing” means housing occupied or reserved for occupancy by households whose incomes are at or below certain income requirements at rental rates affordable to such households.
Terms Used In Utah Code 35A-8-501
- Affordable housing: means housing occupied or reserved for occupancy by households whose incomes are at or below certain income requirements at rental rates affordable to such households. See Utah Code 35A-8-501
- Board: means the Housing Board created by this part. See Utah Code 35A-8-501
- 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.
- Fund: means the Olene Walker Housing Loan Fund created by this part. See Utah Code 35A-8-501
- 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.
- 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
- 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) “Board” means the Housing Board created by this part.(3) “Fund” means the Olene Walker Housing Loan Fund created by this part.(4)(4)(a) “Housing sponsor” means a person who constructs, develops, rehabilitates, purchases, or owns a housing development that is or will be subject to legally enforceable restrictive covenants that require the housing development to provide, at least in part, affordable housing.(4)(b) “Housing sponsor” may include:(4)(b)(i) a local public body;(4)(b)(ii) a nonprofit, limited profit, or for profit corporation;(4)(b)(iii) a limited partnership;(4)(b)(iv) a limited liability company;(4)(b)(v) a joint venture;(4)(b)(vi) a subsidiary of the Utah Housing Corporation;(4)(b)(vii) a cooperative;(4)(b)(viii) a mutual housing organization;(4)(b)(ix) a local government;(4)(b)(x) a local housing authority;(4)(b)(xi) a regional or statewide nonprofit housing or assistance organization; or(4)(b)(xii) any other entity that helps provide affordable housing.(5) “Rural” means a county in the state other than Utah, Salt Lake, Davis, or Weber.