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Panel backs revolving loan fund to spur mixed‑income affordable homeownership
Summary
SB 6,028 would create a revolving loan fund administered by the Housing Finance Commission and Commerce to provide below‑market loans for mixed‑income affordable homeownership projects; sponsors said loans would be construction‑period, repaid within 36 months, and include 99‑year affordability covenants for permanently affordable units.
The Senate Housing Committee heard testimony Jan. 16 on SB 6,028, which would establish an Affordable Homeownership Revolving Fund administered by the Housing Finance Commission under contract with the Department of Commerce.
Senator Alvarado said the tool aims to address a financing gap for for‑sale projects that are otherwise uneconomic under current…
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