Definitions

As used in this part: (1) "Affordable housing" means housing occupied or reserved for occupancy by households whose incomes are at or below certain income requirements at rental rates affordable to such households. (2) "Board" means the Housing Board created by this part. (3) "Fund" means the Olene Walker Housing Loan Fund created by this part. (4) (a) "Housing sponsor" means a person who constructs, develops, rehabilitates, purchases, or owns a housing development that is or will be subject to legally enforceable restrictive covenants that require the housing development to provide, at least in part, affordable housing. (b) "Housing sponsor" may include: (i) a local public body; (ii) a nonprofit, limited profit, or for profit corporation; (iii) a limited partnership; (iv) a limited liability company; (v) a joint venture; (vi) a subsidiary of the Utah Housing Corporation; (vii) a cooperative; (viii) a mutual housing organization; (ix) a local government; (x) a local housing authority; (xi) a regional or statewide nonprofit housing or assistance organization; or (xii) any other entity that helps provide affordable housing. (5) "Rural" means a county in the state other than Utah, Salt Lake, Davis, or Weber.