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For purposes of sections 2.938 to 2.940, the following words and phrases mean:

City manager. The city manager of the city of Eugene, or the manager’s designee.

Lender. The provider of a loan secured by the recorded deed of trust or recorded mortgage made to finance the purchase, construction or rehabilitation of a property used for low income housing under the criteria listed in section 2.939 of this code.

Low-income. Income at or below 60 percent of the area median income as determined by the State Housing Council based on information from the United States Department of Housing and Urban Development.

(Section 2.937 added by Ordinance No. 19667, enacted February 12, 1990; amended by Ordinance 19967, enacted June 13, 1994, and administratively amended by Ordinance No. 20113, enacted April 6, 1998, effective May 6, 1998.)