UPDATE: This legislation was referred to the Committee on Housing and Community Development on 3-4-24.
AB-2665 was introduced by Assembly Member Lee on 2-14-2024.
This bill would create the Mixed Income Revolving Loan Program within HCD to provide zero-interest construction loans for qualifying residential, infill housing developers for construction of affordable housing. Loans would be administrated by HCD pending funding.
Developers must meet the following qualifications:
20% affordable units for 50% AMI or less
+10% affordable units for 80% AMI or less
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