Section 2. The following terms as used in this chapter shall have the following meanings, except when the context clearly indicates otherwise:—
“Affordable housing”, a dwelling unit: (i) rented to a household whose annual income, adjusted for family size, is equal to or less than 80 per cent of the median income of the Metropolitan Statistical Area, Primary Metropolitan Statistical Area or nonmetropolitan county in which the dwelling unit is located, as such median income is determined from time to time by the United States Department of Housing and Urban Development or any successor agency; or (ii) sold to and occupied by a household whose annual income, adjusted for family size, is equal to or less than 100 per cent of the aforesaid median income.
“Board”, the board of directors of the CEDAC.
“CDC”, a community development corporation, as defined in section one of chapter forty F.
“CEDAC” or “Corporation”, the Community Economic Development Assistance Corporation.
“Eligible organization”, a CDC, a nonprofit corporation or such other entity or organization, including a public agency and a limited equity cooperative housing corporation organized under or subject to chapter 157B which the board determines to be engaged primarily in activities intended: (i) to contribute to the development and economic well-being of a target area or areas, and to increase or retain primary employment and capital in a target area or areas; or (ii) to contribute to the preservation of existing or the creation of new affordable housing. In addition the Massachusetts Community Development Finance Corporation, established in chapter 40F, shall be an eligible organization.
“Primary employment”, work which pays at least one and one half times the minimum wage as defined in chapter one hundred fifty-one or as established by federal law, whichever is higher, offers adequate fringe benefits including health insurance, and is not seasonal or part-time.
“Target area”, a target area, as defined in section one of chapter forty F.
“Technical and financial assistance”, professional, financial and other assistance to assist eligible organizations to plan, organize and implement economic activities which may reasonably be expected: (i) to contribute to the development and economic well-being of a target area or areas, and to increase or retain primary employment and capital in a target area or areas; or (ii) to contribute to the preservation of existing or the creation of new affordable housing.
Section 2. The following terms as used in this chapter shall have the following meanings, except when the context clearly indicates otherwise:—
“Affordable housing”, a dwelling unit: (i) rented to a household whose annual income, adjusted for family size, is equal to or less than 80 per cent of the median income of the Metropolitan Statistical Area, Primary Metropolitan Statistical Area or nonmetropolitan county in which the dwelling unit is located, as such median income is determined from time to time by the United States Department of Housing and Urban Development or any successor agency; or (ii) sold to and occupied by a household whose annual income, adjusted for family size, is equal to or less than 100 per cent of the aforesaid median income.
“Board”, the board of directors of the CEDAC.
“CDC”, a community development corporation, as defined in section one of chapter forty F.
“CEDAC” or “Corporation”, the Community Economic Development Assistance Corporation.
“Eligible organization”, a CDC, a nonprofit corporation or such other entity or organization, including a public agency and a limited equity cooperative housing corporation organized under or subject to chapter 157B which the board determines to be engaged primarily in activities intended: (i) to contribute to the development and economic well-being of a target area or areas, and to increase or retain primary employment and capital in a target area or areas; or (ii) to contribute to the preservation of existing or the creation of new affordable housing. In addition the Massachusetts Community Development Finance Corporation, established in chapter 40F, shall be an eligible organization.
“Primary employment”, work which pays at least one and one half times the minimum wage as defined in chapter one hundred fifty-one or as established by federal law, whichever is higher, offers adequate fringe benefits including health insurance, and is not seasonal or part-time.
“Target area”, a target area, as defined in section one of chapter forty F.
“Technical and financial assistance”, professional, financial and other assistance to assist eligible organizations to plan, organize and implement economic activities which may reasonably be expected: (i) to contribute to the development and economic well-being of a target area or areas, and to increase or retain primary employment and capital in a target area or areas; or (ii) to contribute to the preservation of existing or the creation of new affordable housing.
Section 2. The following terms as used in this chapter shall have the following meanings, except when the context clearly indicates otherwise:—
“Affordable housing”, a dwelling unit: (i) rented to a household whose annual income, adjusted for family size, is equal to or less than 80 per cent of the median income of the Metropolitan Statistical Area, Primary Metropolitan Statistical Area or nonmetropolitan county in which the dwelling unit is located, as such median income is determined from time to time by the United States Department of Housing and Urban Development or any successor agency; or (ii) sold to and occupied by a household whose annual income, adjusted for family size, is equal to or less than 100 per cent of the aforesaid median income.
“Board”, the board of directors of the CEDAC.
“CDC”, a community development corporation, as defined in section one of chapter forty F.
“CEDAC” or “Corporation”, the Community Economic Development Assistance Corporation.
“Eligible organization”, a CDC, a nonprofit corporation or such other entity or organization, including a public agency and a limited equity cooperative housing corporation organized under or subject to chapter 157B which the board determines to be engaged primarily in activities intended: (i) to contribute to the development and economic well-being of a target area or areas, and to increase or retain primary employment and capital in a target area or areas; or (ii) to contribute to the preservation of existing or the creation of new affordable housing. In addition the Massachusetts Community Development Finance Corporation, established in chapter 40F, shall be an eligible organization.
“Primary employment”, work which pays at least one and one half times the minimum wage as defined in chapter one hundred fifty-one or as established by federal law, whichever is higher, offers adequate fringe benefits including health insurance, and is not seasonal or part-time.
“Target area”, a target area, as defined in section one of chapter forty F.
“Technical and financial assistance”, professional, financial and other assistance to assist eligible organizations to plan, organize and implement economic activities which may reasonably be expected: (i) to contribute to the development and economic well-being of a target area or areas, and to increase or retain primary employment and capital in a target area or areas; or (ii) to contribute to the preservation of existing or the creation of new affordable housing.
