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Civil grand jury urges higher price caps, reinvestment for down‑payment assistance fund
Summary
The civil grand jury recommended raising maximum sales‑price caps for the Down Payment Assistance Loan Program (DALP), putting $3.4M now available back into community loans, and considering a new housing bond; the Mayor’s Office of Housing signaled support and study of an increase.
The civil grand jury presented its review of the Down Payment Assistance Loan Program (DALP), part of the Proposition A affordable housing bond passed in 1996. The grand jury concluded the program has operated largely fairly but is constrained by maximum sales price limits that are now too low for the local market.
The report noted 293 loans have been made since the…
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