12 U.S.C. § 4146 — Definitions

For this subchapter, “community-based nonprofit housing developer” means a nonprofit community development corporation that: (A) the Internal Revenue Service has classified as tax-exempt under section 501(c)(3) of title 26; (B) has existed for at least two years before the grant application date; (C) has served low- and moderate-income people in the community where the project is located; (D) is organized at the neighborhood, city, county, or multiple-county level; and (E), if it acquires eligible housing under subchapter I, agrees to form a purchaser entity meeting that subchapter’s definition of a community-based nonprofit organization and agrees to use its best efforts to obtain majority tenant consent to acquire the project for which grant help is requested.

(2) “Eligible low-income housing,” “nonprofit organization,” “owner,” and “resident council” have the meanings given in section 4119 of this title. This section does not define those terms.