Establishes the increased housing program to create affordable housing in Tennessee.
The bill creates the increased housing program, administered by the Tennessee Housing Development Agency (THDA), to assist developers and first-time homebuyers in building and purchasing housing units across the state. The program provides gap financing for developers and grants for first-time homebuyers to cover down payments and closing costs. It also establishes a revolving fund for the program, which must be used for construction or rehabilitation of affordable housing units.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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