58-706. Affordable Housing Trust Fund; eligible activities.

308 words·~1 min read·/ne/chapter-58/58-706

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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;

(14)Vocational training in the housing and construction trades industries by nonprofit groups; and

(15)Weatherization and solar or other energy improvements to make utilities for housing more affordable.