8.111.802    DEFINITIONS

When used in these rules, unless the context clearly requires a different meaning:

(1) "Application" means the Montana Board of Housing Loan Process published by the board, a copy of which may be obtained by contacting the board by mail at P.O. Box 200528, Helena, Montana 59620-0528, by telephone at (406) 841-2840, or at the board's web site www.housing.mt.gov.

(2) "Board" means the Montana Board of Housing created by 2-15-1814, MCA.

(3) "CTMH" means the Coal Trust Multifamily Homes program authorized by 17-6-308(6), MCA, and Title 90, chapter 6, part 1, MCA.

(4) "Low-income" means households whose incomes do not exceed 80% of the median income in the area as determined by the US Department of Housing and Urban Development with adjustments for smaller and larger families.

(5) "Moderate-income" means households whose incomes are between 81% and 95% of the median income for the area as determined by the US Department of Housing and Urban Development with adjustments for smaller and larger families.

(6) "Multifamily rental housing project" means a project that is two or more rental units.

(7) "Total development cost" means all costs shown in the application on the Uses of Funds line "Total Projects Costs without Grant Admin." Total project cost does not include grant administration costs.

 

History: 90-6-136, MCA; [Chapter 774, Sections 16 and 17, L. 2023]; IMP, 17-6-308, 90-6-137, MCA; NEW, 2019 MAR p. 1631, Eff. 9/21/19; AMD, 2023 MAR p. 1405, Eff. 10/21/23.