Establishes the rental housing revolving fund to provide loans for rental housing projects, prioritizing low-income families.
The bill establishes the rental housing revolving fund to provide loans for rental housing projects, with priority given to low-income families. The fund can be used for planning, design, land acquisition, and other housing development services. Loans are prioritized for projects on state or county land and those requiring the least state funding per unit. The fund can also provide credit enhancement and gap financing. The corporation must establish an application process and loan-to-value ratios to protect the fund.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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