Title
AN ACT CONCERNING SMALL HOUSING PROVIDER FINANCING PROGRAM for the purpose of establishing a small housing provider financing program within the Housing Investment Trust Fund to provide grants and low-interest financing for small landlords who own a limited number of rental units and agree to preserve affordability; amending the purposes and uses of the Fund to provide for the program; making certain technical corrections; and generally relating to the Housing Investment Trust Fund.
Body
FOR USE BY COUNCIL ADMINISTRATION:
Confidential: Yes
Requested by: Krystal Oriadha
Assigned to: Josh Hamlin
Legislastion Type: Bill
Need by Date: ASAP
Background Necessitating Legislation:
This bill will establish a program to provide financial assistance from the Housing Investment Trust Fund to small housing providers in the form of grants and/or loans in order to finance moderate renovations, repairs, and the elimination of hazardous and unsafe living conditions. In order to be eligible, an applicant must agree to maintain at least 50% of the units as affordable units, as defined in the bill.
Special Instructions/Concerns/Time Critical Information:
Please assign to Josh Hamlin
Agencies or Individuals to Contact:
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Comments/Notes:
AN ACT concerning Small Housing Provider Financing Program for the purpose of establishing a small housing provider financing program within the Housing Investment Trust Fund to provide grants and low-interest financing for small landlords who own a limited number of rental units and agree to preserve affordability; amending the purposes and uses of the Fund to provide for the program; making certain technical corrections; and generally relating to the Housing Investment Trust Fund.
DRAFTER PLEASE COMPLETE THE FOLLOWING:
Proposer(s): Council Member Oriadha
Background
This bill will establish a program to provide financial assistance from the Housing Investment Trust Fund to small housing providers in the form of grants and/or loans in order to finance moderate renovations, repairs, and the elimination of hazardous and unsafe living conditions. In order to be eligible, an applicant must agree to maintain at least 50% of the units as affordable units, as defined in the bill.
REMINDER: Attach the Legislative file document