215.300. As used in sections 215.300 to 215.318, thefollowing terms mean:
(1) "Additional subsidies", subsidies provided by theMissouri housing development commission to the owner of asubsidized multifamily rental housing project pursuant to section215.311;
(2) "Administering agency", the Missouri housing developmentcommission;
(3) "Affordable rent", a rent amount less than or equal tothirty percent of a family's income;
(4) "Expand affordability", to reduce the cost of thehousing to one or more low income tenants;
(5) "HUD", the United States Department of Housing and UrbanDevelopment, and shall include the Federal Housing Administrationand a local housing authority when it is acting to administer aHUD program;
(6) "Low income tenant", a tenant who is a person or groupof persons residing in the same housing accommodation so long asthe total income for all such persons for the most recenttwelve-month period is less than or equal to fifty percent of themedian income for the area, as defined by HUD, in accordance withsection 1437a, Title 42, United States Code;
(7) "Low income unit", a housing unit for which the annualrental charge is less than or equal to thirty percent of themaximum annual income for a low income tenant;
(8) "Moderate income tenant", a tenant who is a person orgroup of persons residing in the same housing accommodation solong as the total income for all such persons for the most recenttwelve-month period is more than fifty percent but less than orequal to eighty percent of the median income for the area, asdefined by HUD, in accordance with section 1437a, Title 42,United States Code;
(9) "Moderate income unit", a housing unit for which theannual rental charge is less than or equal to thirty percent ofthe maximum annual income for a moderate income tenant;
(10) "Mortgage prepayment", repayment of outstanding debt ona loan issued pursuant to a federal mortgage insurance program,prior to the maturity date of the loan;
(11) "Multifamily rental housing project", a building orbuildings under common ownership and containing four or morerental units that were constructed or substantially rehabilitatedpursuant to a federal mortgage insurance program;
(12) "Prepayment restriction", any limitation imposed by thefederal government with regard to the repayment of outstandingdebt on a loan issued pursuant to a federal mortgage insuranceprogram, prior to the maturity date of the loan, without theprior approval of the secretary of the Department of Housing andUrban Development.
215.300. As used in sections 215.300 to 215.318, thefollowing terms mean:
(1) "Additional subsidies", subsidies provided by theMissouri housing development commission to the owner of asubsidized multifamily rental housing project pursuant to section215.311;
(2) "Administering agency", the Missouri housing developmentcommission;
(3) "Affordable rent", a rent amount less than or equal tothirty percent of a family's income;
(4) "Expand affordability", to reduce the cost of thehousing to one or more low income tenants;
(5) "HUD", the United States Department of Housing and UrbanDevelopment, and shall include the Federal Housing Administrationand a local housing authority when it is acting to administer aHUD program;
(6) "Low income tenant", a tenant who is a person or groupof persons residing in the same housing accommodation so long asthe total income for all such persons for the most recenttwelve-month period is less than or equal to fifty percent of themedian income for the area, as defined by HUD, in accordance withsection 1437a, Title 42, United States Code;
(7) "Low income unit", a housing unit for which the annualrental charge is less than or equal to thirty percent of themaximum annual income for a low income tenant;
(8) "Moderate income tenant", a tenant who is a person orgroup of persons residing in the same housing accommodation solong as the total income for all such persons for the most recenttwelve-month period is more than fifty percent but less than orequal to eighty percent of the median income for the area, asdefined by HUD, in accordance with section 1437a, Title 42,United States Code;
(9) "Moderate income unit", a housing unit for which theannual rental charge is less than or equal to thirty percent ofthe maximum annual income for a moderate income tenant;
(10) "Mortgage prepayment", repayment of outstanding debt ona loan issued pursuant to a federal mortgage insurance program,prior to the maturity date of the loan;
(11) "Multifamily rental housing project", a building orbuildings under common ownership and containing four or morerental units that were constructed or substantially rehabilitatedpursuant to a federal mortgage insurance program;
(12) "Prepayment restriction", any limitation imposed by thefederal government with regard to the repayment of outstandingdebt on a loan issued pursuant to a federal mortgage insuranceprogram, prior to the maturity date of the loan, without theprior approval of the secretary of the Department of Housing andUrban Development.
215.300. As used in sections 215.300 to 215.318, thefollowing terms mean:
(1) "Additional subsidies", subsidies provided by theMissouri housing development commission to the owner of asubsidized multifamily rental housing project pursuant to section215.311;
(2) "Administering agency", the Missouri housing developmentcommission;
(3) "Affordable rent", a rent amount less than or equal tothirty percent of a family's income;
(4) "Expand affordability", to reduce the cost of thehousing to one or more low income tenants;
(5) "HUD", the United States Department of Housing and UrbanDevelopment, and shall include the Federal Housing Administrationand a local housing authority when it is acting to administer aHUD program;
(6) "Low income tenant", a tenant who is a person or groupof persons residing in the same housing accommodation so long asthe total income for all such persons for the most recenttwelve-month period is less than or equal to fifty percent of themedian income for the area, as defined by HUD, in accordance withsection 1437a, Title 42, United States Code;
(7) "Low income unit", a housing unit for which the annualrental charge is less than or equal to thirty percent of themaximum annual income for a low income tenant;
(8) "Moderate income tenant", a tenant who is a person orgroup of persons residing in the same housing accommodation solong as the total income for all such persons for the most recenttwelve-month period is more than fifty percent but less than orequal to eighty percent of the median income for the area, asdefined by HUD, in accordance with section 1437a, Title 42,United States Code;
(9) "Moderate income unit", a housing unit for which theannual rental charge is less than or equal to thirty percent ofthe maximum annual income for a moderate income tenant;
(10) "Mortgage prepayment", repayment of outstanding debt ona loan issued pursuant to a federal mortgage insurance program,prior to the maturity date of the loan;
(11) "Multifamily rental housing project", a building orbuildings under common ownership and containing four or morerental units that were constructed or substantially rehabilitatedpursuant to a federal mortgage insurance program;
(12) "Prepayment restriction", any limitation imposed by thefederal government with regard to the repayment of outstandingdebt on a loan issued pursuant to a federal mortgage insuranceprogram, prior to the maturity date of the loan, without theprior approval of the secretary of the Department of Housing andUrban Development.
