(1) “Above-Moderate Income Households” mean persons or families whose income exceeds that of Moderate-Income Households but does not exceed 150 percent of area median income adjusted for family size. “Area median income” is defined in Health and Safety Code § 50093.

(2) “Affordable Housing Cost” is defined in § 1481.2(c)(4).

(3) “Affordable Price” is defined in § 1481.2(c)(1).

(4) “Affordable Rent” means rent calculated in a manner consistent with Government Code § 54236(g) and 25 Cal. Code Regs. § 6922.

(5) “CalHFA” means the California Housing Finance Agency, a public instrumentality and political subdivision of the State of California created by the Zenovich-Moscone-Chacon Housing and Home Finance Act, division 31 of the Health and Safety Code.

(6) “Decent, Safe, and Sanitary” means meeting all the minimum requirements listed in 2 Cal. Code Regs. § 1872.

(7) “Department” means the California Department of Transportation.

(8) “Fair Market Value” means the most probable price that real property should bring in a competitive and open market under all conditions requisite to a fair sale in accordance with Government Code § 54236(f), the buyer and seller each acting prudently and knowledgeably, and assuming such price is not affected by undue stimuli. Included in this definition is the consummation of a sale of the real property as of a specified date with title passing from seller to buyer under conditions whereby:

(9) “Fair Market Value at Time of Purchase” means the appraised Fair Market Value for a property offered at an Affordable Price. It shall be determined by a California certified Real Estate appraiser and is subject to review and acceptance by the Department for compliance with the Uniform Standards of Professional Appraisal Practice. The appraisal shall be updated at the opening of escrow if it is more than six months old.

(10) “Housing-Related Public Entity” is defined in § 1483(b).

(11) “Housing-Related Private Entity” is defined in § 1485.

(12) “Lower Income Households” has the meaning set forth in Health and Safety Code § 50079.5. Lower Income Households are typically characterized as having incomes not exceeding 80% of area median income adjusted for family size.

(13) “Minimum Sales Price” is the price the Department paid for the property without any inflation adjustment, and no property shall be sold pursuant to this article for less than the Minimum Sales Price.

(14) “Moderate Income Households” has the same meaning as “middle-income families” set forth in Health and Safety Code § 50093. Moderate Income Households are typically characterized as having incomes exceeding that of Lower Income Households but not exceeding 120% of area median income adjusted for family size.

(15) “Occupant” means a person 18 years or older who uses the Surplus Residential Property as their Principal Place of Residence and who is listed on the lease or rental agreement with the Department as of the date of the letter described in § 1478(a)(1).

(16) “Persons and Families of Low or Moderate Income” has the meaning set forth in Health and Safety Code § 50093.

(17) “Principal Place of Residence” means the place which is a person's primary home. A person's temporary absence from their primary home does not effect a change with respect thereto. On the other hand, if a person moves to another place, other than as a mere transient or sojourner, the person shall be treated as having changed the location of their primary home.

(18) “Priority X”, where “X” is a number 0 to 9, is specified in § 1477.1 & 1477.2.

(19) “Reasonable Price” means the price that is best suited to the economically feasible use of the property as Decent, Safe, and Sanitary housing at Affordable Rents. When used in Priority 4, “Reasonable Price” means the price best suited to the economically feasible use of the property as a historic home for public and community access and use. The Reasonable Price may not be less than the Minimum Sales Price.

(20) “Single-Family Residence” means a Surplus Residential Property that is either used as a dwelling unit for one family or intended by the Department to be used as a dwelling unit for one family.

(21) “Surplus Nonresidential Properties” means real property including land and structures owned by the Department that are not Surplus Residential Property.

(22) “Surplus Residential Property” means real property including land and structures owned by the Department that:

(23) “Tenant” means an Occupant of a Surplus Residential Property who is a signatory to the lease or rental agreement as of the date of the letter described in § 1478(a)(1).

(24) “Use and Resale Restrictions” means the terms, conditions, and restrictions imposed by the Department for properties sold for less than Fair Market Value. Use and Resale Restrictions run with the land and are equitable servitudes. They apply to the entirety of the property, including every unit of a multi-unit property and every new unit added to a property.