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Cal. Health & Safety Code § 50951

Purposes and General Provisions

Known as the Zenovich-Moscone-Chacon Housing and Home Finance Act

The act spans §§ 50000–54913 (995 sections).

Amended by Stats. 1979, Ch. 1207.

In meeting the housing needs of persons and families of low or moderate income, not less than 30 percent of the units financed by mortgage loans or property improvement loans pursuant to this part shall be available to, or occupied by, very low income households at affordable rents, unless it is not possible to obtain subsidies necessary to meet such requirement. No development loan, rehabilitation loan, or construction loan shall be made pursuant to this part if the agency determines that its ability to utilize currently available subsidies to meet the requirements of this section would be jeopardized thereby.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.