R.I. Gen. Laws ch. 42-11.2 § 42-11.2-3

Terms used in this chapter shall be defined as follows, unless another meaning is
expressed or clearly apparent from the language or context:


(1) "Eligible owner" means any of the following entities, provided that it shall have
the legal right to lease or sublease existing, newly constructed, or substantially
rehabilitated dwelling units.


(i) A mutual housing association, a nonprofit housing development corporation, a limited
equity housing cooperative, a limited partnership in which a nonprofit housing development
corporation is the general partner, or a limited partnership in which a corporation
wholly owned by a nonprofit housing development corporation is the general partner.


(ii) Any other person or entity the department elects to contract with.


(2) "Fair market rent" means the fair rental amount for a dwelling unit, as established
by the executive department pursuant to § 42-11.2-9.


(3) "Housing costs" means an amount equal to the fair market rent for an assisted unit,
plus a utility allowance for that unit as determined by the executive department.


(4) "Limited equity housing cooperative" means a cooperative housing association or corporation
organized and operated primarily for the benefit of low and moderate income persons,
and whose equity, after allowance for maximum transfer value of its stock, is permanently
dedicated to providing housing to persons of low or moderate income or to a charitable
purpose.


(5) "Low-income family" means an individual or family whose total income does not exceed
sixty percent (60%) of the median family income adjusted by family size for the area
of the state in which the family lives, as determined annually by the U.S. Department
of Housing and Urban Development.


(6) "Mutual housing association" means a nonprofit corporation, incorporated pursuant
to chapter 6 of title 7 and having articles of incorporation approved by the executive director of the Rhode
Island housing and mortgage finance corporation, having as one of its purposes the
prevention and elimination of neighborhood deterioration and the preservation of neighborhood
stability by affording community and resident involvement in the provision of high-quality,
long-term housing for low and moderate income families in which residents: (i) participate
in the ongoing operation and management of that housing; (ii) have the right to continue
residing in the housing for as long as they comply with the terms of their occupancy
agreement; and (iii) do not possess an equity or ownership interest in the housing.


(7) "Nonprofit housing development corporation" means a nonprofit corporation, which has
applied under 42 U.S.C. § 501(c)(3) for approval as a § 501(c)(3) corporation with the Internal Revenue Service, or been
so approved, and which is organized and operated with one of its principal purposes
being to provide housing for low and moderate income persons.


(8) "Utility allowance" means an amount established by the executive department pursuant
to § 42-11.2-10.