California Code of Regulations › Title 25 - Housing and Community Development › Division 1 - Housing and Community Development › Chapter 7 - Department of Housing and Community Development Programs › Subchapter 1 - Predevelopment Loan Funds › Section 7002 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Applicant" means an entity that has applied for a loan
					 from the Fund.
"Assisted Housing" means housing for which financial
					 assistance is provided through one or more programs designed to reduce housing
					 costs for persons and families of low and moderate income. This assistance may
					 include, but is not limited to, below-market interest loans, grants, rent
					 supplements, development costs subsidies, interest subsidies, below-market
					 priced land, grants of land, or density bonuses. Such housing may include
					 Manufactured Housing and Mobilehome Parks, but does not include emergency
					 shelters for the homeless.
"At-risk Housing" means existing government-assisted rental
					 housing at risk of conversion to market-rate rents, due to factors that may
					 include, but are not limited to, costs of necessary rehabilitation, or a
					 modification or termination of subsidies.
"Borrower" means an "Eligible Sponsor" that has received
					 approval for a Predevelopment Loan from the Fund.
"Construction Financing" means a short-term loan made for
					 financing the construction or rehabilitation of a housing development.
"Cooperative Housing Corporation" is defined in Section
					 50091 of the Health and Safety Code.
"Department" means the California Department of Housing and
					 Community Development.
"Director" means the Director of the Department, or his or
					 her designee.
"Eligible Sponsors" is defined in Health and Safety Code
					 Section 50530.
"Fund" means the Predevelopment Loan Fund.
"Limited Liability Corporation" includes a "Limited
					 Liability Company" as defined in Section 17000 et seq. of the Corporations
					 Code.
"Loan Agreement" means a signed contract between the
					 borrower and the department for a predevelopment loan with all the terms and
					 conditions as determined by the Department.
"Local Governmental Agency" means any county, city, city
					 and county, the duly constituted governing body of an Indian reservation or
					 rancheria, redevelopment agency or public housing authority, and also includes
					 any state agency, public district or other political subdivision of the state,
					 and any instrumentality thereof, which is authorized to engage in or assist in
					 the development or operation of housing for persons and families of low income.
					 It also includes two or more local public entities acting jointly.
"Low-Income Person" shall have the same meaning as "Lower
					 Income Households" as defined in Section 6928 of this Part.
"Manufactured Housing" means a manufactured home, as
					 defined in Section 18007 of the Health and Safety Code, and includes a
					 mobilehome, as defined by Section 18008 of the Health and Safety Code, or
					 factory-built housing as defined in Section 19971 of the Health and Safety
					 Code.
"Mobilehome Park" is defined by Section 18214 of the Health
					 and Safety Code.
"Nonprofit Corporation" is defined in Section 50091 of the
					 Health and Safety Code.
"Permanent Financing" means a long-term loan which is
					 secured by a deed of trust.
"Persons of Low Income" shall have the same meaning as
					 "Lower Income Households" as defined by Section 6928 of this Part.
"Persons of Very Low Income" shall have the same meaning as
					 "Very Low Income Households" as defined by Section 6926 of this Part.
"Predevelopment Loan" is defined in Health and Safety Code
					 Section 50530.
"Public Transit Corridor" is defined in Health and Safety
					 Code Section 50093.5.
"Preservation" in this subchapter means the acquisition of
					 At-Risk Housing, its rehabilitation if needed, and its continued operation as
					 Assisted Housing.
"Rural Area" is defined in Section 50199.21 of the Health
					 and Safety Code.
"Urban Area" is defined in Section 50104.7 of the Health
					 and Safety Code.
"Very Low Income Person" shall have the same meaning as
					 "Very Low Income Households" as defined by Section 6926 of this
					 Part.
1. Amendment
					 filed 4-7-78; effective thirtieth day thereafter (Register 78, No.
					 14).
2. Amendment of subsection (l) filed 6-19-80; effective
					 thirtieth day thereafter (Register 80, No. 25).
3. Amendment filed
					 1-5-82; effective thirtieth day thereafter (Register 82, No. 2).
4.
					 Amendment filed 10-4-84; effective thirtieth day thereafter (Register 84, No.
					 40).
5. Amendment filed 8-13-85; effective thirtieth day thereafter
					 (Register 85, No. 33).
6. Amendment of section and NOTE filed
					 9-19-2003; operative 10-19-2003 (Register 2003, No. 38).
7. Repealer
					 of definitions of "Emergency Loan Amendment" and "Loan Committee" filed
					 11-1-2004; operative 12-1-2004 (Register 2004, No.
					 45).
Note: Authority cited: Sections 50402 and 50406, Health
						and Safety Code. Reference: Sections 18007, 18008, 18214, 50055, 50091,
						50093.5, 50105, 50199.21, 50530, 50530.5, 50531 and 50532.5, Health and Safety
						Code.