Sec.8-214d-1. Definitions

The following definitions apply to Sections 8-214d-1 through 8-214d-14 of the Regulations of Connecticut State Agencies:

(a) "Below Market Price" means an acquisition price for any buildings or improvements constructed on Land Trust property which is less than their appraised value based on a formula as determined by the nonprofit corporation and approved by the Commissioner.

(b) "Commissioner" means the Commissioner of the Department of Economic and Community Development.

(c) "Community Housing Land Bank and Land Trust Fund" means the fund established to make grants pursuant to Section 8-214d of the Connecticut General Statutes.

(d) "Community Housing Land Bank" means land or interests in land which have been acquired by a nonprofit corporation and are being held to provide for existing and future housing needs of low and moderate income families.

(e) "Community Land Trust" means land or interests in land acquired by a nonprofit corporation to be held in trust for the purpose of providing housing for low and moderate income families.

(f) "Department" means the Department of Economic and Community Development.

(g) "Family" means a household consisting of one or more persons.

(h) "Financial Assistance" means grants authorized under Section 8-214d of the Connecticut General Statutes.

(i) "Housing Project" or "Project" means any work or undertaking, which may include acquisition of property, to provide decent, safe and sanitary dwelling units for families of low and moderate income.

(j) "Legal Heir" means a person who would inherit the decedent's property, real or personal, in accordance with the decedent's will, or in the absence of a will, in accordance with Connecticut state laws.

(k) "Limited Equity Cooperative" means a nonprofit corporation organized for the purposes of owning and operating housing for low and moderate income families and qualifying as a limited equity cooperative, as defined in Section 47-242 of the Connecticut General Statutes.

(l) "Low and Moderate Income Families" means families who lack the amount of income necessary to rent or purchase decent, safe and sanitary housing without financial assistance, as determined by the Commissioner.

(m) "Nonprofit Corporation" means a nonprofit corporation incorporated pursuant to Chapter 602 of the Connecticut General Statutes, having as one of its purposes the construction, rehabilitation, ownership or operation of housing and having articles of incorporation approved by the Commissioner.

(n) "Chief Executive Officer" means one of the following: the first selectman; a chief administrative officer appointed by the board of selectmen; a mayor elected by the electors of the municipality; a warden elected by the electors of the borough; a town, city or borough manager appointed by the board of selectmen, the council, the board of directors, the board of aldermen or the board of burgesses or a chief administrative officer appointed by the mayor.

(o) "Development plan" means a detailed description of a project which has been approved by the commissioner.

(p) "Ancillary service" means a social service program that predominantly serves the residents of the land trust. The program may include, but not be limited to, day care, senior center or other similar program.

(q) "Partially constructed housing development" means a locally approved housing subdivision or other housing project for which certificates of occupancy have not been issued for the total amounts of units permitted.

(r) "Municipality" means city, town or borough.

(Effective November 30, 1990; Amended January 13, 1999)