community-based nonprofit housing developermeans a nonprofit community development corporation that—
eligible intermediarymeans a State, regional, or national organization (including a quasi-public organization) or a State or local housing agency that—
eligible low-income housingmeans any housing financed by a loan or mortgage—
Federal cost limitmeans, for any eligible low-income housing, the amount determined under section 4105(a) of this title.
low-income affordability restrictionsmeans limits imposed by regulation or regulatory agreement on tenant rents, rent contributions, or income eligibility in eligible low-income housing.
moderate-income families or personsmeans families or persons whose incomes are between 80 percent and 95 percent of the median income for the area, as determined by the Secretary with adjustments for smaller and larger families.
nonprofit organizationmeans any private, nonprofit organization that—
ownermeans the current or subsequent owner or owners of eligible low-income housing.
preservation equitymeans, for any eligible low-income housing—
preservation valuemeans, for any eligible low-income housing, the applicable value determined under paragraph (1) or (2) of section 4103(b) of this title.
priority purchasermeans (A) a resident council organized to acquire the housing in accordance with a resident homeownership program that meets the requirements of section 4121 1 of this title;
qualified purchasermeans any entity that agrees to maintain low-income affordability restrictions for the remaining useful life of the housing (as determined under section 4112(c) of this title), and includes for-profit entities and priority purchasers.
remaining useful lifemeans, with respect to eligible low-income housing, the period during which the physical characteristics of the housing remain in a condition suitable for occupancy, assuming normal maintenance and repairs are made and major systems and capital components are replaced as becomes necessary.
resident councilmeans any incorporated nonprofit organization or association that—
Secretarymeans the Secretary of Housing and Urban Development.