C.M.R. 99, 346, ch. 16, app 346-16-A
"Above Average" means an average overall score of 4 in the rating category - Physical plant inspections, Project Reports submissions, or Management and Occupancy Reviews. Physical plant inspections, and Management Occupancy Reviews are scored on the following scale: 1- Unsatisfactory, 2 - Below Average, 3 - Average, 4 - Above Average, and 5 - Superior. Project Reports submissions are scored as 5-Timely Submission and 1-Late Submission for each required submission report - Audited Financial Review (AFR), Budget, and Owner Certification of Continued Compliance.
"Act" means the Maine Housing Authorities Act, 30-A M.R.S. §4701 et seq., as may be amended from time to time.
"Activities Important to Daily Living" means activities or destinations that are important to the course of daily living of the population served by the Project, which include a grocery store, a public school only if the Project is housing for families, a daycare only if the Project is housing for families, a senior center only if the Project is Housing for Older Adults, a pharmacy, a bank or credit union, a post office, a store that offers regularly purchased household supplies, a general health care practitioner's office, a public library, a location where people socialize, a hospital and other activities or destinations approved by MaineHousing. Convenience stores and gas stations are not eligible destinations for purposes of this subsection. If there is more than one activity or destination important to the course of daily living within a single establishment, each activity or destination will be counted separately (e.g. a retail store that also includes a pharmacy and a bank branch will be treated as 3 destinations important to the course of daily living).
"Adaptive Reuse" means the conversion of an existing non-housing building or structure to multi- family residential rental housing or the reconstruction of existing housing that has become functionally obsolete, as determined by MaineHousing.
"Affiliates" means any person or entity directly or indirectly controlling, controlled by, or under common control with another person or entity.
"Affordable Housing" means multi-family rental housing that has five or more units and is assisted under a HUD or Rural Development program or is subject to a restrictive covenant requiring units in the housing to be restricted to households with income at or below 60% of area median income, as determined by HUD.
"Affordable Housing TIF" means an affordable housing development district and development program approved by MaineHousing pursuant to MaineHousing's Affordable Housing Tax Increment Financing Program, 30-A M.R.S., Chapter 206, Subchapter 3 and the Act, as may be amended.
"Applicant" means the entity applying for Credit, its successors and assigns, which must be the entity that will be the owner of the Project for tax purposes; must be duly organized and validly existing under the laws of the state in which it is formed, and if not formed in this State, must be duly authorized to conduct business in this State; and must be in good standing under the laws of this State and its state of formation, if not this State.
"Application" means an application to MaineHousing for an allocation of Credit.
"Capitalized Lease Value" means the net present value of all lease payments under a lease calculated over the term of the lease using the 10-year Treasury note rate 60 calendar days before the Application deadline plus 300 basis points.
"Code" means the Internal Revenue Code, Title 26 of the United States Code, and applicable regulations promulgated pursuant thereto, as may be amended.
"Community Revitalization Plan" means (1) a community that has been designated by HUD or RD as an Empowerment Zone, a Renewal Community or Enterprise Community, or a Neighborhood Revitalization Strategy Area; or (2) a written plan that was formally adopted by the governing body of a municipality no more than twelve (12) years prior to the Application deadline following a concerted planning process and public input, specifically targets a neighborhood or area in the community (not a single building or site or the entire municipality) for redevelopment or revitalization, and includes (a) an assessment of the existing physical structures and infrastructure of the area, (b) detailed policy goals with respect to economic redevelopment, the rehabilitation or development of housing (including multi-family rental housing) and the improvement or expansion of infrastructure, and (c) proposed activities and a timetable for implementing the policy goals. Plans for a single development and plans formulated by or on behalf of the Applicant are not Community Revitalization Plans. A comprehensive plan that meets all of the requirements in (2) may qualify.
"Compliance Period" means the period defined in Section 42(i)(1) of the Code.
"Credit" or "LIHTC" means the low-income housing tax credit established pursuant to Section 42 of the Code and allocated pursuant to this rule.
"Credit Period" means the period defined in Section 42(f)(1) of the Code.
"Credit Units" means units in a Project that are eligible for Credit.
"Demand Response Transportation" means on-call transportation services that operate at least 3 days per week and provide service throughout the day.
"Developer Fee" means the total compensation for the work, costs and risks associated with developing a Project, including without limitation, creating the Project concept, identifying and acquiring the Project site, obtaining construction and permanent financing, obtaining necessary subsidies, negotiating the syndication of investment interests in the Project, obtaining all necessary regulatory approvals, constructing and/or rehabilitating the Project and marketing, and includes all amounts paid to consultants to perform this work, except fees for professional services such as environmental assessments, rental market studies, soil tests, and water tests, and includes all reserves, in the form of cash, expected to be paid to the tax credit developer from the Project.
"DDA" means an area of the State that is designated by HUD as a difficult development area pursuant to Section 42(d)(5)(B)(iii) of the Code or an area of the State that is designated by MaineHousing as a difficult-to-develop area in Section 7.A.3 pursuant to Section 42(d)(5)(B)(v) of the Code.
"Extended Use Agreement" means an agreement that satisfies the requirements of Section 42(h)(6)(B) of the Code.
"Extended Use Period" means the period of time specified by MaineHousing in the Extended Use Agreement executed in connection with a Project pursuant to Section 42(h)(6)(D) of the Code, which is the period set forth in Section 5.A. for Projects allocated Credit under the State Ceiling.
"Extremely Low Income" means income that is at or below 30% of the area median income as determined pursuant to the regulations and guidance governing the National Housing Trust Fund.
"Family Housing" means housing for families that qualifies for points under the Family Housing scoring criteria set forth in Section 6.E.
"Fiscal Year" means the fiscal year for a LIHTC Project as defined in the Owner's organizational documents.
"Fixed-route Public Transportation" means year-round, regularly scheduled public transportation that operates at least 5 days per week and provides regular service throughout the day.
"Housing Development Costs" means the total of all direct and indirect costs incurred in financing, creating, purchasing or rehabilitating a LIHTC Project except the costs attributable to the acquisition of the land and any existing buildings as determined by MaineHousing.
"Housing for Older Adults" means a Project that is designated as elderly or senior housing and receives funding and project-based rental assistance under a RD or HUD multi-family elderly housing program (such as RD's Section 515 Rural Rental Housing Program and HUD's Section 202 Supportive Housing for the Elderly Program) or that meets the definition of "housing for older persons" under the federal Fair Housing Act, 42 U.S.C. § 3607(b)(2) and the Maine Human Rights Act, 5 M.R.S. §4581 et seq. and all associated regulations, as may be amended.
"HUD" means the United States of America acting through the United States Department of Housing and Urban Development.
"Intermediary Costs" means all Housing Development Costs except the actual construction costs or eligible rehabilitation costs under Section 42(e) of the Code attributable to the development of the units.
"IRS" means the United States Department of Treasury, Bureau of Internal Revenue Service.
"LIHTC Project" means a qualified low-income housing project as defined in and governed by Section 42(g) of the Code.
"MaineHousing" means Maine State Housing Authority.
"MaineHousing's Construction Standards" means MaineHousing's Quality Standards and Procedures Manual in effect 60 calendar days prior to the applicable deadline for an Application for Credit which include without limitation certain energy efficiency standards and UPCS and incorporate MaineHousing's accessibility policy and procedures.
"Maximum Credit Amount" means the maximum amount of Credit a Project is eligible to receive pursuant to Section 3.C.
"National Housing Trust Fund" means the Housing Trust Fund established under Title I of the Housing and Economic Recovery Act of 2008, 12 U.S.C. § 4568, together with associated regulations and guidance now or hereafter promulgated pursuant thereto.
"Net Developer Fee" means the Developer Fee with respect to a Project that does not exceed the applicable limit set forth in Section 7.B.2., including any portion thereof that is deferred or loaned to pay for costs associated with the Project (and does not include any additional Developer Fee allowed under Section 7.B.3).
"Notice to Proceed" means the notice that a Project has been selected for further evaluation to determine the Project's eligibility for Credit and the amount of Credit to be allocated for the Project. The Notice to Proceed will require the submission of all information necessary for MaineHousing to determine the amount of Credit, if any, to be allocated to the Project, obligate the Applicant to fulfill all commitments made in the Application, and require the Applicant to promptly and diligently develop and complete the Project according to the deadlines specified in the notice.
"Owner" means the legal owner of a LIHTC Project or Qualified Building for which an Application has been submitted to MaineHousing or which has received an allocation of Credit from MaineHousing pursuant to this Qualified Allocation Plan or a prior Qualified Allocation Plan for the State.
"Ownership Transfer Rule" means Chapter 27 of MaineHousing's rules, Transfers of Ownership Interests, and the policies and procedures related thereto, all as may be amended.
"Passive House Certification" means certification from Passive House Institute US, Inc. (PHIUS) or Passive House Institute (PHI) prior to MaineHousing's issuance of IRS Form 8609.
"Persons Experiencing Homelessness" means persons sleeping in a place not meant for human habitation, in an Emergency Shelter, or in other emergency housing; persons exiting an institution where they resided for 90 days or less and who had resided in an Emergency Shelter, other emergency housing, or place not meant for human habitation before entering that institution; and persons fleeing, or attempting to flee, domestic violence, dating violence, sexual assault, stalking, or other dangerous or life-threatening conditions in the individual's or family's current housing situation, including where the health and safety of children are jeopardized, and who have no other residence and lack the resources or support networks to obtain other permanent housing.
"Placed in Service" means the date on which a Qualified Building is suitable and available for occupancy as determined in accordance with Section 42 of the Code.
"Principal" means any person or entity with a controlling interest in another entity, including without limitation, a person or entity with an ownership interest in an Applicant that controls the development and day-to-day operation of a Project, such as the general partner(s) of a limited partnership or the manager(s) or member(s) invested with the management authority of a limited liability company, and all persons and entities with an ownership interest in or control of said entity.
"Project" means the property described in the Application, which must be a qualified low-income housing project as defined in and governed by Section 42(g) of the Code.
"Project Reports" means the annual certification and tenant data required under Section 10.C., and if required for the LIHTC Project, the audited financial report (AFR) and the annual project budget.
"QCT" means an area of the State designated by HUD as a qualified census tract pursuant to Section 42(d)(5)(B)(ii) of the Code.
"Qualified Allocation Plan" or "Plan" means the plan for allocating and administering the Credit adopted by the housing credit agency pursuant Section 42(m)(1)(B) of the Code.
"Qualified Building" means a qualified low-income building as defined in and governed by Section 42(c)(2) of the Code.
"Qualified Contract" means a contract as defined in Section 42(h)(6)(F) of the Code.
"Qualified Nonprofit Organization" means a qualified nonprofit organization as defined in Section 42(h)(5)(C) of the Code.
"Rehabilitation Costs" means with respect to a Project (1) the site costs, (2) the costs of complying with the construction requirements of other funding sources except those required by the Applicant, any Principal thereof or Affiliates of either, (3) contractor profit, overhead and general conditions, and (4) certain costs identified in the capital needs assessment required under Section 5.C.1. of the QAP, including (a) the cost of correcting all violations of applicable federal, state and local health, safety and building codes and correcting deferred maintenance, (b) the rehabilitation or replacement of all structures, systems, facilities and components that have reached or exceed their useful life or will reach their useful life within 5 years, (c) the cost of complying with MaineHousing's Construction Standards, (d) the cost of complying with the most current accessibility requirements for new construction projects under applicable federal, state and local accessibility laws, regulations, standards and guidance, and (e) the remediation and disposal of any environmental or other hazards identified in environmental reports. Rehabilitation Costs do not include construction contingency, relocation costs, or other soft costs.
"Related Development" means any development of which the Project is a part or is related and the Project cannot be completed, either structurally or financially, without the completion of the development.
"RD" or "Rural Development" means the United States of America acting through the United States Department of Agriculture, Rural Housing Services.
"Safe Walking Distance" means a pedestrian route appropriate to the area, as determined by MaineHousing, with sidewalks, crosswalks and traffic signals at busy roads or intersections and year- round walkability, which includes being plowed during the winter.
"Section 8" means Section 8 of the United States Housing Act of 1937, 42 U.S.C. § 1437f, as may be amended.
"Service Center Community" means an entire municipality that provides jobs and retail to surrounding areas and is a center for education, health care, cultural, recreational and social services, designated pursuant to the Municipal Planning Assistance Program of the State's Department of Agriculture, Conservation and Forestry as a Regional Service Center as of January 2013.
"State" means the State of Maine.
"State Ceiling" means the State's housing credit ceiling established pursuant to Section 42(h)(3)(C) of the Code.
"Tax Increment Financing" means any type of tax increment financing, including without limitation an Affordable Housing TIF, a development district and development program approved by a municipality or a tax increment financing district approved by the State's Department of Economic and Community Development pursuant to 30-A M.R.S., Chapter 206, as may be amended.
"TDC Index" means the calculation described in Section 5.B.
"TDC Index Cap" means the limit on Total Development Cost set forth in Section 5.B.
"Telehealth" means the use of interactive real-time visual and audio or other electronic media for the purpose of consultation and education concerning and diagnosis, treatment, care management, and self-management of a patient's physical and mental health and includes real-time interaction between the patient and the telehealth provider, synchronous encounters, asynchronous encounters, store and forward transfers and remote patient monitoring. Telehealth includes telephonic services when interactive telehealth services are unavailable or when a telephonic service is medically appropriate for the underlying covered service.
"Total Construction Cost" means the sum of site costs, costs of constructing or rehabilitating structures, systems, facilities, units and components, general requirements, bond premiums, and contractor overhead and profit as determined by MaineHousing.
"Total Development Cost" or "TDC" means Total Project Cost less (1) the fees required by MaineHousing, (2) the Project's operating deficit account to the extent required by MaineHousing and (3) the costs associated with any commercial space developed in connection with the Project.
"Total Project Cost" means the sum of all costs associated with the development, construction and rehabilitation of a Project, as determined by MaineHousing. Total Project Cost includes, without limitation, acquisition costs, the Capitalized Lease Value of all leases of land and building(s), demolition costs, Total Construction Cost, construction contingency, costs associated with community service facilities included in the Eligible Basis of the Project, soft costs (such as permits, design and engineering fees, environmental reports, appraisals, market studies and legal fees), syndication costs, Developer Fee, financing costs and project reserves. Community service facilities are not considered commercial space for purposes of Total Project Cost.
"UPCS" means the Uniform Physical Conditions Standards established by HUD pursuant to 24 CFR § 5.703, as may be amended.
C.M.R. 99, 346, ch. 16, app 346-16-A