Cal. Code Regs. tit. 25 § 8002
In addition to the definitions found in Section 50781 and Chapter 2 (commencing with Section 50050) of the Health and Safety Code, the following terms and definitions shall apply to this subchapter.
"Affordable housing costs" means that the housing costs for a low-income resident shall not exceed 30% of that resident's monthly gross income unless the department approves an amount exceeding this standard based on one or more of the following conditions which provide overriding and special reasons for exceeding this goal:
If the 30% of income standard cannot be achieved, under no circumstances shall the housing costs of a low-income resident exceed the greater of 40% of the resident's gross monthly income or the resident's housing prior to the conversion.
"Code" means the California Health and Safety Code.
"Committee" means the committee designated by the director pursuant to Subchapter 1 (commencing with Section 6900) of Chapter 6.5 of this Part.
"Equity" means a cash contribution or interest in the property pledged as collateral, but does not include secured debt junior to the department's loan.
"Gross income" means all income as defined by Section 6914 of this Part received by a resident except that the value of net family assets shall be limited to the actual amount of income derived from those assets.
"Housing costs" means the housing cost of a purchaser as defined in Section 6920 of this Part.
"Individual interest" means an individual interest in a mobilehome park as defined in Section 50781 (f) of the Code.
"Loan Originator" means an entity approved by the department to underwrite or originate loans, or evaluate the eligibility of applicants for program assistance.
"Local public entity" has the same meaning as set forth in Section 50079 of the Code.
"Low-income resident" means a person or household who is a resident of the mobilehome park and who is a lower- income household as defined in Section 50079.5 of the Code and Subchapter 2 of Chapter 6.5 of this Part, with the exception that gross income shall be calculated pursuant to the definition in this subchapter.
"Mobilehome" means any of the following:
"Mobilehome park" means mobilehome park as defined in Section 50781(i) of the code.
"Mortgage lender" means a bank or trust company, mortgage banker, federal or state chartered savings and loan association, credit union or other financial institution, or a local public entity.
"Need for Assistance" means the amount of program assistance required to achieve affordable housing costs for low-income residents.
"Program" means the Mobilehome Park Rehabilitation and Purchase Fund.
"Project" means a mobilehome park which has received a loan commitment or loan pursuant to this subchapter.
"Qualified nonprofit housing sponsor" means a nonprofit housing sponsor as defined in Section 50781(k) of the Code.
"Rehabilitation" means substantial repairs and improvements to the project which are necessary to a) conform with legally authorized requirements of state or local government in order to receive approval to convert the park to resident ownership, b) meet reasonable and minimum property standards established by a lender for the project, and c) alleviate all substandard conditions which violate the Mobilehome Parks Act, Section 18200, et. seq., of the Code.
"Resident" means an individual or household who actually resides in a mobilehome park as that person's principal residence.
"Resident organization" means an organization of mobilehome park residents which has all of the following characteristics:
"Resident ownership" means the ownership of an interest in a mobilehome park by a resident organization, which entitles the resident organization to regulate the operations of the mobilehome park for a term of no less than 15 years, or the ownership of individual interests by residents in a mobilehome park, or both.
"Rural area" means an area as defined in Section 50199.21 of the Code.
Cal. Code Regs. Tit. 25, § 8002
2. Amendment of definition of "Rural area" filed 7-11-2005; operative 8-10-2005 (Register 2005, No. 28).
3. Change without regulatory effect amending definition of "Program" filed 10-13-2015 pursuant to section 100, title 1, California Code of Regulations (Register 2015, No. 42).
Note: Authority cited: Sections 50406(n) and 50786(a), Health and Safety Code. Reference: Sections 18008, 18007, 18010, 18200, et. seq., 19971, 50050-50105, 50406, 50780, 50781, 50782, 50783, 50784, 50785, 50786 and 50786.5, Health and Safety Code; and Sections 6900 et seq., Title 25, Administrative Code.
2. Amendment of definition of "Rural area" filed 7-11-2005; operative 8-10-2005 (Register 2005, No. 28).
3. Change without regulatory effect amending definition of "Program" filed 10-13-2015 pursuant to section 100, title 1, California Code of Regulations (Register 2015, No. 42).