Establishes the rental housing revolving fund to be administered by the corporation.
The bill establishes the rental housing revolving fund to be administered by the corporation. The fund may be used for administrative expenses, planning, design, land acquisition, and other housing development services. The corporation shall not forgive any loan made from the fund unless the corporation forecloses on the project. The fund shall be used to provide loans for the development, pre-development, construction, acquisition, preservation, and substantial rehabilitation of rental housing units.
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