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 11 - Homeownership Assistance Program › Article 1 - General › Section 7902 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The following definitions shall govern the
						Program:
"Assisted property" means property which has been
						purchased with assistance under the Program.
"Code" means the California Health and Safety
						Code.
"Committee" means the Committee established pursuant to
						Title 25, California Administrative Code, Section 6902(d).
"Converted" means, with respect to a rental unit or
						housing development, a change in tenure from rental to condominium or
						cooperative ownership where a final public report has been issued by the
						California Department of Real Estate relating to such change in
						ownership.
"Cooperative corporation" means an entity established as
						as a stock cooperative corporation as defined by Section 11003.2 of the
						Business and Professions Code.
"Debt service" means the total monthly payments of
						principal and interest on a mortgage loan for the assisted property, any loan
						insurance fees associated with the loan, property taxes and assessments, and
						fire and casualty insurance. Where debt service is in connection with purchase
						of a space or a right of occupancy of a space in a mobilehome part, such debt
						service shall include any debt service which exists with regard to a mobilehome
						located on such space.
"Department" means the California Department of Housing
						and Community Development.
"Development cost" means the aggregate of all costs
						incurred in connection with construction of a mobilehome park including, but
						not limited to, the cost of:
(1) land
					 acquisition, whether by purchase or lease;
(2) overhead, including engineering,
					 architectural, legal and accounting fees;
(3) construction of the mobilehome spaces and
					 related structures;
(4) off-site
					 improvements, including utilities, sewers and streets;
(5) construction of necessary support and
					 community facilities;
(6) necessary
					 on-site improvements;
(7)
					 acquisition and installation of mobilehomes, including accessory buildings and
					 structures as defined in Section 19213 of the Code; and
(8) moving expenses of households displaced
					 as a result of the development of the mobilehome park.
Development costs do not include the cost of permanent
						financing of a mobilehome park or mobilehome space.
"Down payment" means an initial payment made by a
						purchases which contributes to the purchase of assisted property.
"Eligible Household" means a person or family:
(1) whose income does not exceed the median
					 income of the county in which the property eligible to to purchased under this
					 Program is located. Such income shall be calculated in accordance with
					 adjustments for family size established or published by the
					 Department;
(2) who does not at the
					 time assistance is provided to it under the Program, or has not in the three
					 (3) years immediately preceding the provision of such assistance, owned any
					 residential real property, other than a mobilehome not affixed to permanent
					 foundation;
(3) who has not
					 previously received any direct assistance under this Program; and
(4) who would be unable to purchase eligible
					 property without assistance under the Program as determined by Section
					 7908.
The provision of assistance pursuant to Section 7904(a)
						(3) shall not be construed to render a household ineligible for assistance
						pursuant to Section 7904(a) (4) of these regulations.
"Financial assistance" means monies from the Fund.
"Fund" means the Homeownership Assistance Fund.
"Governmental agency" means a city, county, or city and
						county within the State and any department, division, or public agency of the
						State including a housing authority, redevelopment agency, or community
						development commission; or two or more of such entities acting jointly; or the
						duly constituted government body of an Indian reservation or rancheria.
"Gross income" means all income as defined by Title 25,
						California Administrative Code, Section 6914 excluding the definition of "net
						family assets" in subdivision (b) of Section 6914 which for the purpose of the
						Program shall be defined as provided in Section 7908 (b) of these
						regulations.
"Improvements" means substantial repairs, renovations or
						additions undertaken with respect to property purchased with assistance under
						the Program, which increase the value of such property or bring such property
						into conformance with local or state building or housing standards.
(1) "improvements" includes:
(A) replacement of built-in appliances,
					 fixtures and equipment which were originally sold as part of the unit, and will
					 remain a part of the unit, or replacement of structural components of the unit,
					 including a roof, plumbing and electrical systems, provided that replacement is
					 required by the nonoperative, deteriorated, or obsolescent nature of the
					 original appliance, fixture equipment or structural component;
(B) replacement to the common area of a
					 condominium cooperative or mobile home park resulting in a mandatory assessment
					 by a homeowners association or cooperative corporation and;
(C) permanent additions to the unit
					 including, but not limited to, rooms, carports, cabanas, awnings, decks, air
					 conditioning.