[§201H-122]  Definitions.  The following
terms as used in this subpart shall have the following meanings unless a
different meaning clearly appears from the context:



"Eligible project" means a rental
housing project that:



(1)  Is financed by the corporation pursuant to
subpart B or D, or that the corporation determines will require rental
assistance to make it financially feasible;



(2)  Is subject to a regulatory agreement with the
corporation;



(3)  Maintains at least twenty per cent of its units
for eligible tenants; and



(4)  Meets other qualifications as established by
rules adopted by the corporation.



Notwithstanding any provision to the contrary,
"eligible project" may also include a rental housing project that is
financed by the corporation pursuant to subpart A.



"Eligible tenant" means a family or
an individual whose income does not exceed eighty per cent of the area median
income as determined by the United States Department of Housing and Urban
Development.



"Owner" means the owner of an
eligible project.



"Regulatory agreement" means an
agreement between the corporation and the owner relating to an eligible project
that includes provisions relating to rents, charges, profits, return on owner's
equity, development costs, and methods of operation.



"Rental assistance contract" means an
agreement between an owner and the corporation providing for periodic rental
assistance payment for units in an eligible project. [L 2006, c 180, pt of §4]