Committee backs HPF budget-language change pending bond counsel, saying it could increase flexibility
The committee supported a staff recommendation to change Housing Production Fund budget language to allow short-term loan repayment extensions beyond five years — pending bond counsel and financial-advisor review — to give HOC flexibility during project timing gaps.
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Council staff described a proposed change in budget language that would allow the Housing Opportunities Commission to grant short-term extensions for Housing Production Fund (HPF) loans beyond the existing five-year repayment expectation when projects face timing gaps.
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