(765 ILCS 925/3) (from Ch. 67 1/2, par. 903)
Sec. 3.
As used in this Act:
(a) "IHDA" means the Illinois Housing
Development Authority.
(b) "FmHA" means the Farmers Home Administration or a local housing authority
administering an FmHA program.
(c) "HUD" means
the United States Department of Housing and Urban Development, or
the Federal Housing Administration or a local housing authority
administering a HUD program.
(d) "Owner" means the person, partnership, or corporation that is a party
to a contract with HUD or FmHA providing for a mortgage, mortgage assistance,
mortgage insurance, or rent subsidy; or any spouse, employee, agent, partner,
master lessee, business affiliate or associate, or successor in interest
of such person, partnership or corporation, that receives or demands rent
for the subsidized housing.
(e) "Prepayment of mortgage" means the prepayment of a mortgage, or loan
prior to maturity, that is:
(1) insured or held by HUD under Section 221(d)(3) of the National Housing
Act and assisted under Section 101 of the Housing and Urban Development
Act of 1965 or Section 8 of the United States Housing Act of 1937;
(2) insured or held by HUD and bears interest at a rate determined under
the proviso of Section 221(d)(3) of the National Housing Act;
(3) insured, assisted or held by HUD under Section 236 of the National Housing Act;
(4) insured or held by HUD under Section 514 or 515 of the Housing Act of 1949; or
(5) held by HUD and formerly insured under a program listed in this subsection (e).
(f) "Section 8 contract" means a contract with HUD or FmHA which provides
rent subsidies entered into pursuant to Section 8 of the United States Housing
Act of 1937 or the Section 8 Existing Housing Program (24 C.F.R. Part 882).
(g) "Subsidized housing" means any housing or unit of housing financed
by a loan or mortgage insured or held by HUD under a program listed in subsection
(e) of this Section, or subject to a Section 8 contract.
(h) "Unit of local government" means (1) the municipality within which
subsidized housing is located, or (2) if subsidized housing is not located
within the boundaries of any municipality, the county
in which the subsidized housing is located.
(Source: P.A. 85-1438.)
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