| | | As used in this subchapter, unless the context otherwise | | indicates, the following terms have the following meanings. |
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| | | 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. |
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| | | 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. |
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| | | 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. |
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| | | 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. |
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| | | 5.__Authority.__"Authority" means the Maine State Housing | | Authority. |
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| | | 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. |
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| | | 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. |
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| | | 8.__Director.__"Director" means the Director of the Maine | | State Housing Authority. |
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| | | 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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