Plain Text Law

Regulation .02 Objectives.

Regulation .02 Objectives.Copy Citation

The objectives of the Administration in its use of Financing Adjustment Factor Funds are to:
A.
Finance affordable housing in conjunction with housing loan programs administered by the Department by awarding funds to local governments, nonprofit sponsors, and developers, and for-profit sponsors and developers to:
(1)
Promote the development or rehabilitation of rental housing for households of very low income;
(2)
Promote homeownership opportunities for households of very low income; or
(3)
Facilitate nonprofit ownership of group housing for persons of very low income with special need;
B.
Finance programs, projects, and activities that fill a need not met by other DHCD housing programs, but that promote the development and rehabilitation of housing for households of very low income for homeowners, renters, and special populations; and
C.
Provide grants to local governments, local development corporations, local development agencies, municipalities, and nonprofit organizations for certain eligible activities.