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 16 - Family Housing Demonstration Program Regulations-Proposition 84 › Article 1 - General › Section 8111 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In addition to the definitions found in Chapter 2
						(commencing with section 50050), of Part 1 of Division 31 of the Health and
						Safety Code and Subchapter 2 (commencing with section 6910) of Chapter 6.5 of
						this Title, the following definitions shall apply to this subchapter. In the
						event of a conflict between the following definitions and those recited above,
						the following definitions prevail for the purposes of this subchapter:
a. "Account" means the Family Housing
					 Demonstration Account.
b.
					 "Affordable rent" means rent for an assisted unit, determined pursuant to
					 section 8122.
c. "Approved eligible
					 costs" are those eligible costs approved by the Department prior to loan
					 closing.
d. "Article XXXIV
					 approval" means the approval by local electors which must be obtained before a
					 low rent housing project can be developed, constructed, or acquired in any
					 city, town or county in California. This approval is required by section 1 of
					 Article XXXIV of the Constitution of California.
e. "Assisted unit" means a dwelling unit in a
					 community housing development or the personal living space in a congregate
					 housing development which may include one or more bedrooms depending on family
					 size and characteristics. An "assisted unit" is affordable to an eligible
					 household as a result of a payment made by the department pursuant to this
					 subchapter and is both designated for occupancy by an eligible household and
					 either available on a priority basis to, or occupied by, an eligible household
					 in accordance with a Regulatory Agreement between the department and the
					 sponsor entered into pursuant to section 8133(c).
f. "Commercial space" means space used for
					 commercial purposes, excluding space used for a child care center operated
					 pursuant to section 8127.
g.
					 "Community Housing Development" means a development of 20 or more rental or
					 cooperative units on one or more sites which includes the supportive service
					 requirements pursuant to section 8127 and the job training and placement
					 program requirements pursuant to section 8128.
h. "Congregate Housing Development" means a
					 new or rehabilitated, multi-bedroom structure with common living areas, large
					 enough to accommodate two to ten households who share child care, cleaning,
					 cooking and other household responsibilities pursuant to a resident management
					 agreement as described in section 8137.
i. "Conversion" means the alteration of
					 nonresidential space within an existing structure to create a rental housing
					 development.
j. "Debt service
					 coverage ratio" means the ratio of (1) operating income less operating expenses
					 to (2) debt service payments, excluding voluntary prepayments.
k. "Department" means the Department of
					 Housing and Community Development.
l. "Development costs" are the costs of
					 planning, funding and constructing the project as approved by the Department
					 prior to loan closing.
m.
					 "Director" means the Director of the Department of Housing and Community
					 Development.
n. "Distributions"
					 means the amount of cash received from the operation of a rental housing
					 development and available to be distributed pursuant to section 8123 to the
					 sponsor of that rental housing development, or any party having a beneficial
					 interest in the sponsor entity. Distributions do not include payments for debt
					 service, voluntary loan prepayments, operations, maintenance, payments to
					 required reserve accounts, land lease payments to parties that do not have a
					 beneficial interest in the sponsor entity, or payments for property management
					 or other services as set forth in the Regulatory Agreement for the rental
					 housing development.
o. "Elderly"
					 means the same as defined in section 50067 of the Health and Safety
					 Code.
p. "Eligible households"
					 means very low-income households or other lower-income households.
q. "FHDP" means Family Housing Demonstration
					 Program.
r. "Fiscal integrity"
					 means that the total of operating income plus funds released from the operating
					 reserve account pursuant to the Regulatory Agreement is sufficient to:
(1) pay all current operating
					 expenses,
(2) pay all current debt
					 service (excluding deferred interest),
(3) fully fund all reserve accounts
					 established pursuant to the Regulatory Agreement (other than the operating
					 reserve account),
(4) maintain a
					 debt service coverage ratio, where specified in the Regulatory Agreement,
					 and
(5) pay other extraordinary
					 costs permitted by the Regulatory Agreement. The ability to pay any or all of
					 the annual permitted distribution shall not be considered in determining fiscal
					 integrity.