Rhode Island Code of Regulations › Title 825 - Housing and Mortgage Finance Corporation › Chapter 10 - Rules Relative to Agency Administration › Subchapter 00 - N/A › Part 2 - Equal Opportunity and Affirmative Action Procedures (825-RICR-10-00-2) › Section 825-RICR-10-00-2.3 - Definitions

Current through June 14, 2024
"Act" means the Housing and Mortgage Finance Corporation Act more particularly set forth in R.I. Gen. Laws Chapter 42-55, as amended.
"Affirmative Action Officer" means the individual or individuals appointed by the Executive Director to serve as Affirmative Action Officer under this Part.
"Board of Commissioners" means the Board of Commissioners of the Corporation.
"Contractor" means an individual, corporation or partnership retained by a Housing Sponsor to serve as a general contractor or construction manager in the construction of a Development.
"Corporate Office" means 44 Washington Street, Providence, Rhode Island 02903.
"Corporation" means Rhode Island Housing and Mortgage Finance Corporation, a public corporation organized and existing under the Act.
"Development" means a multi-family residential housing complex under the Rules and Regulations of the Corporation Applicable to the Multi-Family Program (the "Multi-Family Regulations").
"Executive Director" means the Executive Director of the Corporation.
"Hearing Officer" means the individual or individuals appointed by the Executive Director to serve as a Hearing Officer under this Part.
"Housing Sponsor" means corporation, individuals, joint ventures, partnerships, limited partnerships, trusts, firms, associations, or other legal entities or any combination thereof, whether organized for profit or not, qualified either to own, construct, acquire, develop or rehabilitate a Development.
"Minorities" or "Minority" means persons or person of black, Native American, Asian or Hispanic ancestry.
"Minority and Female Owned" means businesses in which at least fifty-one percent (51%) of the ownership interest is held by, and which are managed and controlled by Minorities and/or women, and which have obtained written certification thereof from the state in which their principal office is located or from such other governmental or non-governmental office, board, commission, department, agency or entity satisfactory to the Corporation.
"Mortgage Loan" means a loan made to a Housing Sponsor for the purpose of providing construction or permanent financing, or both, for a Development, upon the terms and conditions required by the Multi-Family Regulations.
"Proposal" means a written proposal for the construction, development and/or rehabilitation of a Development seeking financing under the Multi-Family Program.
"Subcontractor" means individuals, corporations, joint ventures, partnerships, limited partnerships, associations or other legal entities retained by a Housing Sponsor or Contractor to render services, or services and material in connection with the construction or rehabilitation of a Development.
"Suspension" means disqualification of a Housing Sponsor from participation in the Corporation's programs and suspension of Housing Sponsor's rights to disbursements from Mortgage Loans.
"Total Construction Costs" means the total funds expended in connection with the construction or rehabilitation of the Development.
"Total Work Force Hours" means the total number of worker-hours expended in connection with construction or rehabilitation of the Development.