Senate committee advances predevelopment loan program to fund low-income housing projects
House Bill 2964A was advanced by the Senate Housing and Development Committee on May 21; the bill would create a loan program to fund predevelopment costs for new housing projects that remain affordable to low-income households, and committee staff reported minimal fiscal and no revenue impact.
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The Senate Committee on Housing and Development on May 21 advanced House Bill 2964A with a due-pass recommendation. Committee staff summarized the bill as creating a loan program to fund predevelopment costs of new housing projects and as requiring that the housing remain affordable to low-income households.
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