58-706. Affordable Housing Trust Fund; eligible activities.
The following activities are eligible for assistance from the Affordable Housing Trust Fund:
(1) New construction, rehabilitation, or acquisition of housing to assist low-income and very low-income families;
(2) Matching funds for new construction, rehabilitation, or acquisition of housing units to assist low-income and very low-income families;
(3) Technical assistance, design and finance services, and consultation for eligible nonprofit community or neighborhood-based organizations involved in the creation of affordable housing;
(4) Matching funds for operating costs for housing assistance groups or organizations when such grant or loan will substantially increase the recipient's ability to produce affordable housing;
(5) Mortgage insurance guarantees for eligible projects;
(6) Acquisition of housing units for the purpose of preservation of housing to assist low-income or very low-income families;
(7) Projects making affordable housing more accessible to families with elderly members or members who have disabilities;
(8) Projects providing housing in areas determined by the Department of Economic Development to be of critical importance for the continued economic development and economic well-being of the community and where, as determined by the department, a shortage of affordable housing exists;
(9) Infrastructure projects necessary for the development of affordable housing;
(10) Downpayment and closing cost assistance;
(11) Demolition of existing vacant, condemned, or obsolete housing or industrial buildings or infrastructure;
(12) Housing education programs developed in conjunction with affordable housing projects. The education programs must be directed toward:
(a) Preparing potential home buyers to purchase affordable housing and postpurchase education;
(b) Target audiences eligible to utilize the services of housing assistance groups or organizations; and
(c) Developers interested in the rehabilitation, acquisition, or construction of affordable housing;
(13) Support for efforts to improve programs benefiting homeless youth; and
(14) Vocational training in the housing and construction trades industries by nonprofit groups.
Source
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.