SCHEDULE 2 GRO FOR OWNER OCCUPATION

PART 1 INTERPRETATION AND PURPOSE

1 Interpretation
In this Schedule–
“first purchaser” means the purchaser of a unit from a grant recipient who cannot be an officer, trustee or director of that grant recipient, or an individual with any financial interest in that grant recipient, or a family member of that grant recipient;
“GRO for owner occupation” means grant for the provision of housing for owner occupation to be paid by a local authority to a grant recipient in respect of a type 1, type 2 or type 3 project;
“post completion return” means the form submitted by a grant recipient to a local authority within 28 days of the conclusion of missives in respect of the sale of the last unit in a project;
“project” means the type 1, type 2 or type 3 project approved by a local authority for GRO for owner occupation;
“term of the GRO for owner occupation” means the period of time specified in the offer of GRO for owner occupation for which the terms and conditions of the grant are to apply;
“type 1 project” means a project to provide units for owner occupation in areas with a high concentration of rented housing;
“type 2 project” means a project to provide units for owner occupation in established urban areas where there are limitations in the range of available housing relative to demand; and
“type 3 project” means a project to provide units for owner occupation for sale to client groups at a price which may be less than the market value in areas where there is a limited supply of housing for sale to those client groups as a result of housing market conditions.