Michigan Administrative Code › Department - Labor and Economic Opportunity › Michigan State Housing Development Authority - General Rules › Part 9 - MICHIGAN HOUSING AND COMMUNITY DEVELOPMENT FUND; MICHIGAN HOUSING AND COMMUNITY DEVELOPMENT PROGRAM › Section R. 125.191 - Definitions

Current through Vol. 24-12, July 15, 2024
Rule 191. Definitions provided for in part 1 of the
				  authority's rules, R 125.101 to
				  R 125.103, apply to the provisions of
				  this part, unless superseded in this rule as follows:
(a) "Allocation plan" means the plan referred
				to in and required by section
				58 b of the act, MCL
				125.1458b(3).
(b) "Annual report" means the annual report
				required under section
				58 b of the act, MCL
				125.1458b.
(c) "Applicant" means a person who has
				submitted an application, proposal, or other documentation related to a request
				for an award of housing and community development fund money meeting the
				requirements contained in the applicable NOFA or RFP related to the applicable
				application year.
(d) "Biennial
				plan" means the allocation plan as defined in subrule (a) of this
				rule.
(e) "Chief Executive Officer"
				or "CEO" means the senior manager or person acting within this capacity
				responsible for overseeing the activities of the entire company or
				organization. The CEO usually holds a position on the board of directors of the
				company or organization and may also hold the title of president.
(f) "Chief Financial Officer" or "CFO" means
				the company's or organization's top managerial and financial accountant and the
				individual in charge of the company's or organization's financial matters or
				the person acting within this capacity.
(g) "Community development" means a process
				involving the conception, planning, and implementation of projects or
				activities that create improvements in, or reduce the extent of declines in,
				the living standards of people in a particular community.
(h) "Controlling interest" means the holding
				by 1 person or group of persons of a majority of the stock or other indicia of
				ownership of a business entity, giving the holder or holders a means of
				exercising control over the actions of the entity.
(i) "Development costs" means the sum total
				of all costs incurred by eligible applicants for the purpose of developing and
				coordinating public and private resources to meet the housing needs of
				low-income, very low-income, and extremely low-income households or to finance
				projects, as that term is defined in section
				58 of the act, MCL
				125.1458, located in a downtown
				or adjacent neighborhood in this state.
(j) "Formula" means the standard procedure
				for distributing the Michigan housing and community development program funds
				throughout the state based on the number of persons experiencing poverty,
				economic, and housing distress as specified in section
				58 b of the act, MCL
				125.1458b.
(k) "For-profit corporation" means an entity
				that exists primarily to generate more income than it spends.
(l) "Homelessness" means lacking a fixed,
				regular, and adequate nighttime residence with priority given to those living
				in any of the following:
(i) A publicly or
				privately operated shelter or transitional facility designed to provide
				temporary living accommodations.
(ii) A public or private place not designed
				for, or ordinarily used as, a regular sleeping accommodation for
				humans.
(iii) An institution that
				provides temporary residence for individuals intended to be
				institutionalized.