§ 303 - Definitions
§ 303. Definitions
As used in this chapter:
(1) "Board" means the Vermont housing and conservation board established by this chapter.
(2) "Fund" means the Vermont housing and conservation trust fund established by this chapter.
(3) "Eligible activity" means any activity which will carry out either or both of the dual purposes of creating affordable housing and conserving and protecting important Vermont lands, including activities which will encourage or assist:
(A) the preservation, rehabilitation or development of residential dwelling units which are affordable to lower income Vermonters;
(B) the retention of agricultural land for agricultural use;
(C) the protection of important wildlife habitat and important natural areas;
(D) the preservation of historic properties or resources;
(E) the protection of areas suited for outdoor public recreational activity;
(F) the development of capacity on the part of an eligible applicant to engage in an eligible activity.
(4) "Eligible applicant" means any municipality, department of state government as defined in 10 V.S.A. § 6302(a), nonprofit organization qualifying under section 501(c)(3) of the Internal Revenue Code or cooperative housing organization, the purpose of which is the creation or retention of affordable housing for lower income Vermonters and the bylaws of which require that such housing be maintained as affordable housing for lower income Vermonters on a perpetual basis.
(5) "Lower income" means less than or equal to the median income based on statistics from state or federal sources.
(6) "Important natural area" means any area containing one or more endangered species as defined in 10 V.S.A., chapter 123 or any area essential to maintaining the ecological diversity or natural heritage of the state.
(7) "Historic property or resource" means any building, structure, object, district, area or site that is significant in the history, architecture, archeology or culture of this state, its communities or the nation. (Added 1987, No. 88, § 1, eff. June 11, 1987.)