§ 35-728 — Additional powers; allocating low-income housing tax credits; report; definition

Arizona § 35-728

• Jurisdiction: Arizona
• Title 35: Arizona Revised Statutes
• Ch. 5: INDUSTRIAL DEVELOPMENT FINANCING
• Art. 2: Bonds

Text

A. In addition to the other powers granted to the department, the department may:

1. Adopt rules for the conduct of its business and its review of the activities described in this article.

2. Contract with, retain or designate financial consultants, attorneys and such other consultants and independent contractors as it determines necessary or appropriate to carry out the purposes of this article.

3. Undertake and carry out or authorize the completion of studies and analyses of housing conditions and needs within this state relevant to the purposes of this section to the extent not otherwise undertaken by other departments or agencies of this state satisfactory for such purpose.

B. The department is designated the housing credit agency for this state for purposes of section 42 of the United States internal revenue code and is responsible for allocating the federal low-income housing tax credits available to this state. After reviewing applications the department may assess the applicant a reasonable fee in connection with processing the applications and monitoring compliance with the program. Beginning on October 1, 2002, the department shall remit the fees to the state treasurer for deposit in the Arizona department of housing program fund established by section 41-3957.

C. For the activities authorized in this section, the department shall notify a city, town, county or tribal government that a multifamily rental project is planned for its jurisdiction and, before proceeding, shall request and obtain written consent from the governing body of the city, town, county or tribal government or an official authorized by the governing body of the city, town, county or tribal government. The department shall not interfere with or attempt to override the local jurisdiction's planning, zoning or land use regulations. This subsection shall not be interpreted to interfere in any way with the requirements of state or federal fair housing laws.

D. The department shall provide to the governor, the president of the senate, the speaker of the house of representatives and the auditor general not later than September 30 of each year a report of the activities of the department during the preceding fiscal year. The report shall include information on the following matters:

1. An assessment of the number and geographic location of housing units or developments financed or otherwise assisted by the department or by the corporations reporting to the department.

2. An assessment of the assistance in obtaining housing provided by the department or by the corporations reporting to the department to persons of low or moderate income and to other persons.

3. An assessment of the approximate amount of money used in the housing industry as a result of the department's activities.

E. For the purposes of this section, "department" means the Arizona department of housing.