63L-12 - Granting of Real Property for Moderate Income Housing
Title 63L > 63L-12
Sections (2)
63L-12-101 - Definitions.
As used in this chapter: 63L-12-101(1) “Governmental entity” means:an agency, as that term is defined in Section 63G-10-102;the School and Institutional Trust Lands Administration created in Section 53C-1-201;the School and Institutional Trust Lands Board of Trustees created in Section 53C-1-202; ora political subdivision, as that term is defined in Section 63L-11-102. 63L-12-101(2) “Grant” means:to convey, in whole or in part, with or without consideration; andto contract or partner with an entity for the development of moderate income housing. 63L-12-101(3) “Moderate income housing” means a dwelling that is:offered for sale to an owner-occupier at a purchase price affordable to a household with a gross income of no more than 120% of the area median income for the county in which the residential unit is offered for sale and is deed restricted for no fewer than five years; oroffered for rent at a rental price affordable to a household with a gross income of no more than 80% of the area median income for the county in which the residential unit is offered for rent. 63L-12-101(4) “Municipality” means the same as that term is defined in Section 10-1-104. 63L-12-101(5) “Owner-occupier” means an individual who owns, solely or jointly, a housing unit in which the individual lives as the individual’s primary residence.
63L-12-102 - Grant of real property for moderate income housing.
63L-12-102(1) Subject to the requirements of this section, a governmental entity may grant real property owned by the governmental entity to an entity for the development of moderate income housing on the real property. 63L-12-102(2) A governmental entity shall ensure that real property granted under Subsection (1) is deed restricted for moderate income housing for at least 30 years after the day on which each moderate income housing unit is completed and occupied. 63L-12-102(3) If applicable, a governmental entity granting real property under this section shall comply with:the provisions of Title 78B, Chapter 6, Part 5, Eminent Domain;Subsection 10-8-2(4), if a municipality is granting real property under this section;Subsection 17-78-103(4), if a county is granting real property under this section; andexcept as provided in Subsection (4), any other applicable provisions of law that govern the granting of real property by the governmental entity. 63L-12-102(4) A municipality granting real property under this section is not subject to the provisions of Subsection 10-8-2(3).