There is a newer version of the California Code
2007 California Health and Safety Code Article 1. General Definitions
CA Codes (hsc:33000-33013)
HEALTH AND SAFETY CODESECTION 33000-33013
33000. This part may be cited as the Community Redevelopment Law. 33001. The definitions and general provisions contained in this article govern the construction of this part, unless the context otherwise requires. 33002. "Community" means a city, county, city and county, or Indian tribe, band, or group which is incorporated or which otherwise exercises some local governmental powers. 33003. "Agency" means a redevelopment agency created by this part or its predecessor, or a legislative body which has elected to exercise the powers granted to an agency by this part. 33004. "Public body" means the State, or any city, county, district, authority, or any other subdivision or public body of the State. 33005. "State" includes any state agency or instrumentality. 33006. "Federal government" means the United States or any of its agencies or instrumentalities. 33007. "Legislative body" means the city council, board of supervisors, or other legislative body of the community. 33007.5. "Limited-equity housing cooperative" means a corporation organized on a cooperative basis which meets all of the following requirements: (a) The corporation is any of the following: (1) Organized as a nonprofit public benefit corporation pursuant to Part 2 (commencing with Section 5110) of Division 2 of Title 1 of the Corporations Code. (2) Holds title to real property as the beneficiary of a trust providing for distribution for public or charitable purposes upon termination of the trust. (3) Holds title to real property subject to conditions which will result in reversion to a public or charitable entity upon dissolution of the corporation. (4) Holds a leasehold interest, of at least 20 years' duration, conditioned on the corporation's continued qualification under this section, and providing for reversion to a public entity or charitable corporation. (b) The articles of incorporation or bylaws require the purchase and sale of the stock or membership interest of resident owners who cease to be permanent residents, at no more than a transfer value determined as provided in the articles or bylaws, and which shall not exceed the aggregate of the following: (1) The consideration paid for the membership or shares by the first occupant of the unit involved, as shown on the books of the corporation. (2) The value, as determined by the board of directors of the corporation, of any improvements installed at the expense of the member with the prior approval of the board of directors. (3) Accumulated interest, or an inflation allowance at a rate which may be based on a cost-of-living index, an income index, or market-interest index. Any increment pursuant to this paragraph shall not exceed a 10 percent annual increase on the consideration paid for the membership or share by the first occupant of the unit involved. (c) The articles of incorporation or bylaws require the board of directors to sell the stock or membership interest purchased as provided in subdivision (b), to new member-occupants or resident shareholders at a price which does not exceed the "transfer value" paid for the unit. (d) The "corporate equity," which is defined as the excess of the current fair marketed value of the corporation's real property over the sum of the current transfer values of all shares or membership interests, reduced by the principal balance of outstanding encumbrances upon the corporate real property as a whole, shall be applied as follows: (1) So long as any such encumbrance remains outstanding, the corporate equity shall not be used for distribution to members, but only for the following purposes, and only to the extent authorized by the board, subject to the provisions and limitations of the articles of incorporation and bylaws: (A) For the benefit of the corporation or the improvement of the real property. (B) For expansion of the corporation by acquisition of additional real property. (C) For public benefit or charitable purposes. (2) Upon sale of the property, dissolution of the corporation, or occurrence of a condition requiring termination of the trust or reversion of title to the real property, the corporate equity is required by the articles, bylaws, or trust or title conditions to be paid out, or title to the property transferred, subject to outstanding encumbrances and liens, for the transfer value of membership interests or shares, for use for a public or charitable purpose. (e) Amendment of the bylaws and articles of incorporation requires the affirmative vote of at least two-thirds of the resident-owner members or shareholders. 33008. "Planning commission" means a planning agency established pursuant to law or charter. 33009. "Obligee" includes any bondholder, his trustee, any lessor demising to the agency property used in connection with a project area or any assignee of all or part of his interest, and the federal government when it is a party to any contract with the agency. 33010. "Redevelopment project" means any undertaking of an agency pursuant to this part. 33011. "Department" means the Department of Housing and Community Development. 33011.2. "Director" means the Director of Housing and Community Development. 33013. "Small housing project" means real property containing or proposed to contain a separate residential structure having not more than four dwelling units and which is owned by an agency and proposed to be conveyed to persons and families of low or moderate income or to private parties pursuant to an agreement with an agency to develop or maintain the residential structure which is proposed to be restricted by a recorded instrument for the use and occupancy of persons and families of low or moderate income for a period of not less than 30 years, or to the term otherwise provided by law, and which meets either of the following criteria: (a) The real property is owned by an agency and one or more of the dwelling units therein are proposed to be restricted for the use and occupancy of persons or families to whom the agency is obligated to provide relocation assistance under Chapter 16 (commencing with Section 7260) of Division 7 of Title 1 of the Government Code or for persons and families of low or moderate income. (b) The real property is owned by the agency and is proposed to be conveyed to persons and families of low or moderate income or developed for rental by private parties (nonprofit or otherwise) pursuant to an agreement with the redevelopment agency.
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