Sec. 256. DEFINITIONS
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## SEC. 256 DEFINITIONS **[**[12 U.S.C. 4146](/us/usc/t12/s4146)**]** For purposes of this subtitle— ####
(1)the term “**community-based nonprofit housing developer**” means a nonprofit community development corporation that— #####
(A)has been classified by the Internal Revenue Service as an exempt organization under section 501(c)(3) of the Internal Revenue Code of 1986; #####
(B)has been in existence for at least 2 years prior to the date of the grant application; #####
(C)has a record of service to low- and moderate-income people in the community in which the project is located; #####
(D)is organized at the neighborhood, city, county or multi-county level; and #####
(E)in the case of a corporation acquiring eligible housing under subtitle B of this title, agrees to form a purchaser entity that conforms to the definition of a community-based nonprofit organization under such subtitle and agrees to use its best efforts to secure majority tenant consent to the acquisition of the project for which grant assistance is requested; and ####
(2)the terms “**eligible low-income housing**”, “**nonprofit organization**”, “**owner**”, and “**resident council**” have the meanings given such terms in section 229.
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U.S. Code