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Senate committee hears bill to let New Hampshire Housing guarantee multifamily loans to spur affordable housing
Summary
Sen. Rebecca Perkins Quoca told the Senate Commerce Committee that SB86 would let New Hampshire Housing guarantee loans to reduce lender risk and support construction or preservation of affordable multifamily housing.
Sen. Rebecca Perkins Quoca introduced Senate Bill 86 on Feb. 11, proposing a loan-guarantee program administered by the New Hampshire Housing Finance Authority to help refinance or originate multifamily and other eligible affordable housing loans. Perkins Quoca said the program could leverage private capital and that guaranties historically impose low fiscal risk to the state while helping projects close.
"This bill asks the state to do an economic development function that other states provide," Perkins Quoca said, adding the program would give the state another tool to address housing shortages in a tight budget year.
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