Minn. R. agency 148, ch. 4900, AFFORDABLE RENTAL INVESTMENT FUND PROGRAM, pt. 4900.3510
The definitions in this part apply in parts 4900.3500 to 4900.3550.
"Agency" means the Minnesota Housing Finance Agency created by Minnesota Statutes, chapter 462A.
"Affordable rental housing" means a development that includes at least four assisted units.
"Affordable rental investment fund program" means a loan program authorized by Minnesota Statutes, section 462A.21, subdivision 8b, to acquire, rehabilitate, or newly construct affordable rental housing.
"Area median income" means the greater of the county median income or the Minnesota nonmetropolitan median income as each is provided annually to the agency by a notice from the United States Department of Housing and Urban Development.
"Assisted unit" means a unit of rental housing affordable to low-income households, as provided in part 4900.3540, in a development for which a loan has been made from the affordable rental investment fund program.
"Development" means the affordable rental housing to be acquired, rehabilitated, or newly constructed by the applicant as described in the application.
Minn. R. agency 148, ch. 4900, AFFORDABLE RENTAL INVESTMENT FUND PROGRAM, pt. 4900.3510
Statutory Authority: MS s 462A.06