Glossary » Community Development Finance Terms

In general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define affordable housing based on other, locally determined criteria, and that this definition is intended solely as an approximate guideline or general rule of [...]

Building renovated/remodeled that were initially constructed (and completed ) at least 40 years ago.

Land developed or re-developed within an existing area’s infrastructure (utilities, roads). This investment can strengthen and encourage growth in existing communities by realizing multiple environmental benefits from “re-using” sites and infrastructure.

Low income communities are those where:
 

The poverty rate for census tract is at least 20 percent, or
In the case of a Low Income Community located:

outside of a metropolitan area, the median family income (MFI) for such tract does not exceed 80 percent of statewide MFI, or
within a metropolitan area, the MFI for such tract does [...]

A metropolitan statistical area of equal to or greater than 1 million. Includes both central city and surrounding suburbs.

A metropolitan statistical area of less than 1 million. Includes both central city and surrounding suburbs.

Acres or square footage of property if the investment facilitates the opening of land or facilities for public use.  Project must result in a net benefit for a target group (low-income families, people of color, etc.).  May include an asset moving into public ownership, or a private asset opened for public use (1 acre = [...]

All areas outside major urban and minor urban areas.