§ 2-132. Definitions.

As used in this division, the terms:

Adjusted for family size means adjusted in a manner which results in an income eligibility level that is lower for households having fewer than four (4) people, or higher for households having more than four (4) people, than the base income eligibility determined as provided in Florida Statutes, based upon a formula established by the United States Department of Housing and Urban Development.

Adjusted gross income means wages, income from assets, regular cash or noncash contributions, and any other resources and benefits determined to be income by the United States Department of Housing and Urban Development, adjusted for family size, minus the deductions under Section 61 of the Internal Revenue Code of 1986, as amended.

Affordable means that monthly rents or monthly mortgage payments including taxes and insurance do not exceed thirty (30) percent of that amount which represents the percentage of the median adjusted gross annual income for the households qualifying under the definitions of very low income, low income or moderate income persons.

Agency means the Florida Housing Finance Agency.

Eligible housing means any real and personal property located within the county which is designed and intended for the primary purpose of providing decent, safe and sanitary residential units that are designed to meet the standards of this division and F.S. ch. 553, for homeownership or rental for eligible persons as designated by the county.

Eligible person means one (1) or more natural persons or a family determined by the county to be of very low income, low income or moderate income according to the adjusted gross income of the resident with adjustment made for family size.

Eligible sponsor means a person or a private or public for-profit or not-for-profit entity that applies for a loan under the local housing assistance program for the purpose of providing eligible housing for eligible persons.

Grant means a distribution of a portion of a local housing distribution to an eligible sponsor or eligible person to partially assist in the construction or rehabilitation of eligible housing or to provide the costs of tenant or ownership qualifications.

HOME Program means a federal program funded by the department of housing and urban development which provides housing assistance in the areas of new construction and rehabilitation for homeowners within the low, very low and moderate income levels.

Loan means a pledge of the local housing distribution monies to an eligible sponsor or eligible person to partially finance the construction or rehabilitation of eligible housing.

Local housing assistance plan means a concise description of the local housing assistance program adopted by this division with an explanation of the way in which the program meets the requirements of this division and F.S. §§ 420.907 through 420.9079.

Low income person means one (1) or more natural persons or a family, not including students, that has a total annual adjusted gross household income that does not exceed eighty (80) percent of the median annual adjusted gross income for households within the metropolitan statistical area. With respect to rental units, the low income person's annual income at the time of occupancy may not exceed eighty (80) percent of the state's median income adjusted for family size. While occupying the rental unit, a low income person's annual income may increase to an amount not to exceed one hundred forty (140) percent of eighty (80) percent of the state's median income adjusted for family size.

Moderate income person means one (1) or more natural persons or a family, not including students, that has a total annual adjusted gross household income that is less than one hundred twenty (120) percent of the median annual adjusted gross income for households within the metropolitan statistical area. With respect to rental units, the moderate income person's annual income at the time of initial occupancy may not exceed one hundred twenty (120) percent of the state's median income adjusted for family size. While occupying the rental unit, a moderate income persons' annual income may increase to an amount not to exceed one hundred forty (140) percent of one hundred twenty (120) percent of the state's median income adjusted for family size.

Very low income person means one (1) or more natural persons or a family, not including students, that has a total annual adjusted gross household income that does not exceed fifty (50) percent of the median annual adjusted gross income for households within the metropolitan statistical area. With respect to rental units, the very low income person's annual income at the time of initial occupancy may not exceed fifty (50) percent of the state's median income adjusted for family size. While occupying the rental unit, a very low income person's annual income may increase to an amount not to exceed one hundred forty (140) percent of fifty (50) percent of the state's median income adjusted for family size.

SHIP or SHIP Program means the state housing initiatives partnership program created pursuant to the State Housing Initiative Partnership Act, F.S. § 420.907—420.9079.

(Ord. No. 93-6, § 2, 4-8-93; Ord. No. 93-17, § 1, 8-30-93)