SB163 amends the Rental Housing Revolving Fund to prioritize mixed-income rental projects.

SB163 amends the Rental Housing Revolving Fund to prioritize mixed-income rental projects. The fund will give preference to projects serving the original target group, providing units for low-income families, and maximizing units for moderate-income families. It also prioritizes projects committed to serving the target group over a longer period, integrating income levels, meeting geographic needs, and having favorable past performance. The fund prioritizes projects with the shortest repayment terms that produce the highest number of units per dollar, per year.

SB163 amends the Rental Housing Revolving Fund to prioritize mixed-income rental projects.

SB163 amends the Rental Housing Revolving Fund to prioritize mixed-income rental projects. The fund will give preference to projects serving the original target group, providing units for low-income families, and maximizing units for moderate-income families. It also prioritizes projects committed to serving the target group over a longer period, integrating income levels, meeting geographic needs, and having favorable past performance. The fund prioritizes projects with the shortest repayment terms that produce the highest number of units per dollar, per year.