Minnesota Statutes § 462A.221 - DEFINITIONS

§ Subdivision 1.Terms. For purposes of sections 462A.221 to 462A.225, the following terms have the meanings given them. § Subd. 1a.Allocating agency. "Allocating agency" means the Minnesota Housing Finance Agency and each county and city that allocates reserved tax credits as provided under section 462A.222, subdivision 1. § Subd. 1b.Allocation. An "allocation" is considered to have been made either when Part I of Internal Revenue Service Form 8609, Low-Income Housing Credit Allocation Certification, is completed and signed by an authorized official of the allocating agency and mailed to the owner of the qualified low-income building or when the allocating agency issues a carryover. § Subd. 2.City. "City" means a statutory or home rule charter city. § Subd. 2a.Commitment. "Commitment" means a nontransferable, legally binding agreement between an allocating agency and a developer for the use of tax credits. § Subd. 3.Housing and redevelopment authority. "Housing and redevelopment authority" means a housing and redevelopment authority established pursuant to section 469.003, or other law, or any other municipal department, agency, or authority which exercises the powers of a housing and redevelopment authority pursuant to section 469.003 or other law. § Subd. 4. MS 2000 [Repealed, 1Sp2001 c 4 art 4 s 39] § Subd. 5.Substantial rehabilitation. "Substantial rehabilitation" means rehabilitation of at least $5,000 per unit.