The agency shall accept applications from housing sponsors for subordinated loans for rental housing developments upon which construction commences on or after January 1, 1983. Not less than 20 percent of the units in the rental housing development shall be made available on a priority basis to lower income households, as defined in Section 50079.5.
Cal. Health & Safety Code § 51181
Subordinated Mortgage Loans
Known as the Zenovich-Moscone-Chacon Housing and Home Finance Act
The act spans §§ 50000 to 54913 (995 sections).
Added by Stats. 1982, Ch. 1448, Sec. 1.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.