Delaware § 4071 Definitions [For application of this section, see 84 Del. Laws, c. 352, § 3]

Delaware Statutes

§ 4071 — Definitions [For application of this section, see 84 Del. Laws, c. 352, § 3]

Delaware·Title 31·Part Housing and Slum Clearance·Ch. 40 THE DELAWARE STATE HOUSING AUTHORITY·Subch. Delaware Workforce Housing Program [For application of this subchapter, see 84 Del. Laws, c. 352, § 3]

As used in this subchapter:

(1)“DSHA” means the Delaware State Housing Authority as established in Chapter 86 of Title 29.

(2)“DWH grant” or “grant” means a Delaware Workforce Housing grant as set forth in § 4072 of this title.

(3)“Investment Level 1” and “Investment Level 2” means the investment levels as set forth by the Delaware Strategies for State Policies and Spending document approved by the Governor in Executive Order 42 on July 23, 2020.

(4)“Minimum qualified workforce housing threshold” means the minimum level of qualified workforce housing investment required by a qualified workforce housing investor in a workforce housing unit to qualify for a grant, as determined by DSHA. The minimum qualified workforce housing threshold must be no lower than $25,000. No more than once

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As used in this subchapter:

(1) “DSHA” means the Delaware State Housing Authority as established in Chapter 86 of Title 29.

(2) “DWH grant” or “grant” means a Delaware Workforce Housing grant as set forth in § 4072 of this title.

(3) “Investment Level 1” and “Investment Level 2” means the investment levels as set forth by the Delaware Strategies for State Policies and Spending document approved by the Governor in Executive Order 42 on July 23, 2020.

(4) “Minimum qualified workforce housing threshold” means the minimum level of qualified workforce housing investment required by a qualified workforce housing investor in a workforce housing unit to qualify for a grant, as determined by DSHA. The minimum qualified workforce housing threshold must be no lower than $25,000. No more than once per year, DSHA may amend the minimum qualified workforce housing threshold with respect to the types of projects or other criteria determined by DSHA to be necessary or convenient to accomplish the purposes of this subchapter.

(5) “Qualified workforce housing investment” means the amount in excess of the minimum qualified workforce housing threshold that is properly chargeable to a capital account for improvements to rehabilitate, expand, or construct depreciable real property placed in service during the calendar year.

(6) “Qualified workforce housing investor” means an owner or tenant of real property located within an Investment Level 1 or Investment Level 2 zone who expands, rehabilitates, or constructs such real property for use as a workforce housing unit. In the case of a tenant, the amounts of qualified workforce housing investment specified in this section must relate to the proportion of the workforce housing unit for which the tenant holds a valid lease. In the case of an owner of an individual unit within a “common interest community,” as such term is defined in § 81-103 of Title 25, the amount of qualified workforce housing investment specified in this subchapter must relate to the proportion of the workforce housing unit for which the owner holds title and not to common elements.

(7) “Workforce housing unit” means a residential dwelling for a household whose income does not exceed 100% of the median income for the area as defined by the United States Department of Housing and Urban Development.

Delaware § 4071 (Definitions [For application of this section, see 84 Del. Laws, c. 352, § 3]) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.