Definitions

For the purposes of this Act:

(a)“Department” means the Department of Land Management

(DLM)of Guam.

(b)“Affordable housing” means housing units designated for families earning between 30% and 150% of the Area Median Income of Guam.

(c)“Land Use Restriction Agreement (LURA)” means a deed restriction that ensures that the property remains designated for affordable housing, and meets U.S. Department of Housing and Urban Development

(HUD)30% and 150% of the Area Median Income as per HUD Designated High-Cost Living Area. A LURA executed under this Act shall require the affordability designation to remain in effect for a period of thirty

(30)years from the date of issuance of the certificate of occupancy, in compliance with Federal Housing Administration

(FHA)lender underwriting requirements.” CH. 61 ZONING LAW OF GUAM