For purposes of this article, the following definitions apply:
(a) “Affordable housing for students or employees” means a housing development with a majority of its rents restricted to levels that are affordable to low-income students, or employees who are persons and families of low or moderate income.
(b) “Low-income student” means a student whose income and asset level does not exceed the level required for the Cal Grant A award or Cal Grant B award.
(c) “Persons and families of low or moderate income” has the same meaning as defined in Section 50093 of the Health and Safety Code.