4900.2701 Definitions


Published: 2015

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4900.2701 DEFINITIONS.


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Subpart 1.

Scope.

The terms used in parts 4900.2700 to 4900.2707 have the meanings given them in this part.


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Subp. 2.

Agency.

"Agency" means the Minnesota Housing Finance Agency created by Minnesota Statutes, sections 462A.01 to 462A.24.


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Subp. 3.

Applicant.

"Applicant" means one or more entities that submit an application to the agency for a loan under a family rental housing program.


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Subp. 4.

Application.

"Application" means a submittal requesting a loan from the agency for a family rental housing program.


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Subp. 5.

Development.

"Development" means the housing to be constructed or rehabilitated by the applicant as described in the application.


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Subp. 6.

Family rental housing.

"Family rental housing" means rental housing consisting of units with two or more bedrooms.


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Subp. 7.

Family rental housing program.

"Family rental housing program" means a loan program authorized by Minnesota Statutes, section 462A.21, subdivision 8b, for the acquisition, rehabilitation, or new construction of family rental housing.


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Subp. 8.

Loan.

"Loan" means a disbursement of funds to an eligible applicant under a family rental housing program.