LD 858
pg. 2
Page 1 of 14 PUBLIC Law Chapter 426 Page 3 of 14
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LR 787
Item 1

 
As used in this subchapter, unless the context otherwise
indicates, the following terms have the following meanings.

 
1.__Affordable housing.__"Affordable housing" means a decent,
safe and sanitary dwelling, apartment or other living
accommodation for a household whose income does not exceed 120%
of the median income for the area as defined by the United States
Department of Housing and Urban Development under the United
States Housing Act of 1937, Public Law 412, 50 Stat. 888, Section
8, as amended.

 
2.__Affordable housing development district.__"Affordable
housing development district" or "district" means a specified
area within the corporate limits of a municipality that has been
designated as provided under sections 5247 and 5250 to be
developed under an affordable housing development program and
financed under section 5250-A.

 
3.__Affordable housing development program.__"Affordable
housing development program" or "program" means a statement of
means and objectives designed to encourage the development and
maintenance of affordable housing within an affordable housing
development district.

 
4.__Amenities.__"Amenities" means items of street furniture,
signs and landscaping, including, but not limited to, plantings,
benches, trash receptacles, street signs, sidewalks and
pedestrian malls.

 
5.__Authority.__"Authority" means the Maine State Housing
Authority.

 
6.__Captured assessed value.__"Captured assessed value" means
the amount, as a percentage or stated sum, of increased assessed
value that is utilized from year to year to finance the project
costs contained within the affordable housing development
program.

 
7.__Current assessed value.__"Current assessed value" means
the assessed value of the district certified by the municipal
assessor as of April 1st of each year that the affordable housing
development district remains in effect.

 
8.__Director.__"Director" means the Director of the Maine
State Housing Authority.

 
9.__Financial plan.__"Financial plan" means a statement of the
project costs and sources of revenue required to accomplish the
affordable housing development program.


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