Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 375 - NOTICE PROCEDURES UNDER THE FEDERALLY ASSISTED HOUSING PRESERVATION ACT › Subpart A - GENERAL RULES › Section 375.103 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
As used in this Part, the following words or terms
				  mean:
"Act": The Illinois Housing Development Act [20 ILCS 3805
				  ].
"Affected Public Entities": The mayor of the city or village
				  in which the Assisted Housing Development is located or, if the Assisted
				  Housing Development is located in an unincorporated area, the chairperson of
				  the county board; the public housing authority in whose jurisdiction the
				  Assisted Housing Development is located, if any; the local director of the
				  federal housing agency that has insured, provided financing for or provided
				  subsidies for the Assisted Housing Development; and IHDA.
"Affordability Restrictions": The limits on rents that owners
				  may charge for occupancy of a rental unit in Assisted Housing and the limits on
				  tenant income for persons or families seeking to qualify as tenants in Assisted
				  Housing.
"Assisted Housing" or "Assisted Housing Development": A
				  rental housing development, or mixed use development that includes rental
				  housing, that receives government assistance under any of the following
				  programs:
New construction, substantial rehabilitation, moderate
				  rehabilitation, property disposition and loan management set-aside programs, or
				  any other program providing project-based rental assistance under Section 8 of
				  the United States Housing Act of 1937, as amended (
				  42 USC
				  1437 ).
The Below-Market-Interest-Rate Program under Section
				  221(d)(3) of the National Housing Act (
				  12
				  USC 1701 ).
Section 236 of the National Housing Act (
				  12 USC
				  1715z-1 ).
Section 202 of the National Housing Act (
				  12
				  USC 1701 q ).
Programs for rent supplement assistance under Section 101 of
				  the Housing and Urban Development Act of 1965, as amended (
				  12
				  USC 1701 s ).
Programs under Section 514 or 515 of the Housing Act of 1949
				  (
				  12 USC 1441
				  and 14 USC 1485 ).
Section 42 of the Internal Revenue Code (
				  26 USC
				  42 ).
"IHDA": The Illinois Housing Development Authority.
"Members": The members of IHDA.
"Notice": The notice that an owner of an Assisted Housing
				  Development must provide if that owner intends to sell or otherwise dispose of
				  the Assisted Housing Development, complete a prepayment, or complete a
				  termination of affordability restrictions.
"Owner": The person, partnership or corporation that holds
				  title to an Assisted Housing Development.
"Prepayment": The payment in full or refinancing of the
				  federally insured or federally held mortgage indebtedness prior to its original
				  maturity date, or the voluntary cancellation of mortgage insurance, on an
				  Assisted Housing Development under Section 221(d)(3), 236 or 202 of the
				  National Housing Act that would have the effect of removing affordability
				  restrictions applicable to the Assisted Housing Development under the programs
				  described in those Sections.
"Preservation Act": Federally Assisted Housing Preservation
				  Act [310 ILCS 60 ].
"Property": A property or development that contains Assisted
				  Housing.
"Tenant": The tenant, subtenant, lessee, sublessee or other
				  person entitled to possession, occupancy or benefits of a rental unit within an
				  Assisted Housing Development.
"Termination": The:
expiration or early termination of an Assisted Housing
				  Development's participation in a federal subsidy program for Assisted Housing
				  under Section 8 of the United States Housing Act of 1937.
expiration or early termination of an Assisted Housing
				  Development's affordability restrictions described in Section 42(g) of the
				  Internal Revenue Code, when that event results in an increase in tenant rents,
				  a change in the form of subsidy from project-based to tenant-based, or a change
				  in use of the Assisted Housing Development to a use other than rental
				  housing.