Subject to the limitations prescribed in this chapter, a city or county may make, or undertake commitments to make, construction loans and mortgage loans to housing sponsors to finance the acquisition, construction, rehabilitation, refinancing, or development of multifamily rental housing. For this purpose, the city or county shall enter into regulatory contracts and other agreements with housing sponsors receiving loans under this chapter to assure all requirements of this chapter are satisfied.
Cal. Health & Safety Code § 52076
Financing
Known as the Zenovich-Moscone-Chacon Housing and Home Finance Act
The act spans §§ 50000–54913 (995 sections).
Added by Stats. 2002, Ch. 12, 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.