§ 303. Definitions

As used in this chapter:

(1) "Board" means the Vermont Housing and Conservation Board established by this chapter.

(2) "Fund" means the Vermont Housing and Conservation Trust Fund established by this chapter.

(3) "Eligible activity" means any activity which will carry out either or both of the dual purposes of creating affordable housing and conserving and protecting important Vermont lands, including activities which will encourage or assist:

(A) the preservation, rehabilitation, or development of residential dwelling units that are affordable to:

(i) lower income Vermonters; or

(ii) for owner-occupied housing, Vermonters whose income is less than or equal to 120 percent of the median income based on statistics from State or federal sources;

(B) the retention of agricultural land for agricultural use, and of forestland for forestry use;

(C) the protection of important wildlife habitat and important natural areas;

(D) the preservation of historic properties or resources;

(E) the protection of areas suited for outdoor public recreational activity;

(F) the protection of lands for multiple conservation purposes, including the protection of surface waters and associated natural resources;

(G) the development of capacity on the part of an eligible applicant to engage in an eligible activity.

(4) "Eligible applicant" means any:

(A) municipality;

(B) State agency as defined in section 6301a of this title;

(C) nonprofit organization qualifying under Section 501(c)(3) of the Internal Revenue Code; or

(D) cooperative housing organization, the purpose of which is the creation or retention of affordable housing for lower income Vermonters and the bylaws of which require that such housing be maintained as affordable housing for lower income Vermonters on a perpetual basis.

(5) "Lower income" means less than or equal to the median income based on statistics from State or federal sources.

(6) "Important natural area" means any area containing one or more endangered species as defined in chapter 123 of this title or any area essential to maintaining the ecological diversity or natural heritage of the State.

(7) "Historic property or resource" means any building, structure, object, district, area, or site that is significant in the history, architecture, archeology, or culture of this State, its communities, or the nation. (Added 1987, No. 88, § 1, eff. June 11, 1987; amended 2011, No. 138 (Adj. Sess.), § 29; 2011, No. 142 (Adj. Sess.), § 3, eff. May 15, 2012; 2015, No. 157 (Adj. Sess.), § T.3.)