Section 10-B3499. DEFINITIONS

 

3499When used in this chapter, the following words and phrases shall have the meaning ascribed:

 

Act - the Tax Reform Act of 1986 (Public Law 99-514).

 

Area median income - the median income for the Washington Metropolitan Statistical Area as determined by HUD for the Section 8 Program.

 

Department - the District of Columbia Department of Housing and Community Development.

 

Director - the Director of the District of Columbia Department of Housing and Community Development.

 

Low income units - units set-aside for households meeting the income and other requirements of the Act.

 

Multi-family housing - a rental housing accommodation containing five (5) or more dwelling units.

 

Non-profit developer applicants - an organization eligible under §501(c)(3) or (4) of the Internal Revenue Code, one of whose purposes includes the fostering of low income housing.

 

Placed in service - the date a Certificate of Occupancy is issued for an eligible property.

 

Tax credit - the credit which may be claimed on a federal income tax return for investment in low income housing, pursuant to §252 of the Tax Reform Act of 1986.

 

source

Final Rulemaking published at 34 DCR 7308, 7313 (November 13, 1987); as amended by Emergency Rulemaking published at 51 DCR 7652 (August 6, 2004)[EXPIRE].