9-4-706 - Entities authorized to receive fund money.
9-4-706. Entities authorized to receive fund money.
The executive director, with the approval of the board, may grant or lend fund money tohousing sponsors. "Housing sponsor" includes a person who constructs, develops, rehabilitates,purchases, or owns a housing development that is or will be subject to legally enforceablerestrictive covenants that require the housing development to provide, at least in part, residentialhousing to low and moderate income persons. A housing sponsor includes:
(1) a local public body;
(2) a nonprofit, limited profit, or for profit corporation;
(3) a limited partnership;
(4) a limited liability company;
(5) a joint venture;
(6) a subsidiary of the Utah Housing Corporation or any subsidiary of the subsidiary ofthe Utah Housing Corporation;
(7) a cooperative;
(8) a mutual housing organization;
(9) a local government;
(10) a local housing authority;
(11) a regional or statewide nonprofit housing or assistance organization; or
(12) any other type of entity or arrangement that helps provide affordable housing forlow and moderate income persons.
Amended by Chapter 159, 2002 General Session