§ 50605. — 50605. (Added by Stats. 2002, Ch. 721, Sec. 1.)

California § 50605.

• Jurisdiction: California
• Code HSC: Health and Safety Code - HSC
• Div. 31.: DIVISION 31. HOUSING AND HOME FINANCE
• Part 2.: PART 2. DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
• Ch. 5.: CHAPTER 5. Preservation Interim Loan Programs

Text

The department shall include in its last annual report submitted to the Legislature, pursuant to Section 50408, on or before December 31, 2005, all of the following:
(a)
A general description of activities undertaken pursuant to this chapter.
(b)
For each project assisted pursuant to this chapter, a description of the expiration date of the project’s rent restrictions; the name and location of the purchaser; the acquisition price; the
number of assisted units preserved; and the level of affordability maintained.
(c)
If the sponsor for the Interim Repositioning Program subsequently sells any projects, a description of the name and location of the purchaser, the purchase price, and the total transaction costs.
(d)
With respect to the Interim Repositioning Program, an evaluation of the sponsor’s success in leveraging private capital.
(e)
A comparison of the cost of preserving units under the Preservation Opportunity Program versus the Interim Repositioning Program.
(f)
If sufficient data exist, a comparison of the cost of preserving units with rent restrictions that have expired or are eligible to expire within two years versus units with rent restrictions that are eligible to
expire within three to five years.
(g)
An overall assessment of the effectiveness of the Preservation Opportunity Program and the Interim Repositioning Program as tools for preserving affordable housing.

Legislative History

Added by Stats. 2002, Ch. 721, Sec. 1. Effective January 1, 2003.