§ 40:600.91 — Powers and duties of the corporation

Louisiana § 40:600.91

• Jurisdiction: Louisiana
• Title 40: Public Health and Safety

Text

§600.91. Powers and duties of the corporation
A. The corporation shall have the powers necessary or convenient to carry
out and effectuate the purposes and provisions of this Chapter, including the
following powers in addition to all other powers granted by other provisions of this
Chapter:
(1) The corporation may sue and be sued in its own name.
(2) The corporation may establish a seal and alter the same at its pleasure.
(3) The corporation shall adopt, in accordance with the provisions of the
Administrative Procedure Act, R.S. 49:950 et seq., those rules and regulations as are
necessary and proper for the performance of its duties and responsibilities, in
compliance with and subject to the exceptions in the following provisions:
(a) The Administrative Procedure Act, R.S. 49:950 et seq., shall not apply
to the sale of bonds, notes, or other obligations of the corporation or of programs of
the corporation funded with the proceeds thereof, when such sale occurs after
reasonable public notice and public hearing.
(b) The Administrative Procedure Act, R.S. 49:950 et seq., shall not apply
to the administration and allocation of low-income housing tax credits under Section
42 of the Internal Revenue Code of 1986, as amended, except that upon adoption of
rules and regulations relative to such administration and allocation, the corporation
shall submit these rules and regulations to the Joint Legislative Committee on the
Budget for review.
(c) The Administrative Procedure Act, R.S. 49:950 et seq., shall not apply
to the following programs, except that upon adoption of such rules and regulations
relative to such programs, the program or the corporation shall submit such rules and
regulations to the Joint Legislative Committee on the Budget for review. The
programs subject to this provision are as follows:
(i) The Risk Sharing Program.
(ii) The Mark to Market Program.
(iii) The Louisiana Housing Trust Fund.
(iv) The HOME Program.
(v) The Low Income Housing Energy Assistance Program (LIHEAP).
(vi) The Weatherization Program (WAP).
(vii) The Section Eight Contract Administration Program.
(viii) The Louisiana Habitat for Humanity Loan Purchase Program Act.
(ix) Funding for the Louisiana Land Trust.
(4) The corporation may make and execute contracts and all other
instruments necessary or convenient for the exercise of its powers and functions
pursuant to this Chapter with any federal or state governmental agency, public or
private corporation, lending institution, or other entity or person.
(5) The corporation may accept donations of movable or immovable property
from any source and receive appropriations from the legislature or financial
assistance or subsidies from the federal or state government.
(6) The corporation may, subject to the rights of holders of bonds of the
corporation, renegotiate, refinance, or foreclose on any mortgage or commence any
action to protect or enforce any right or benefit conferred upon the corporation by any
law, mortgage, contract, or other agreement, and bid for and purchase such property
at any foreclosure or at any other sale, or otherwise acquire or take possession of any
such property, and, in this event, the corporation may complete, administer, pay the
principal of and interest on any obligation incurred in connection with such property,
dispose of and otherwise deal with such property in such manner as may be necessary
or desirable to protect the interest of the corporation or of holders of its bonds
therein.
(7) The corporation may procure or provide for the procurement of insurance
or reinsurance against any loss in connection with its property or operations,
including but not limited to insurance, reinsurance or other guarantees from a federal
or state governmental agency or private insurance company for the payment of any
bonds issued by the corporation or bonds, notes, or any other obligations or evidences
of indebtedness issued or made by any lending institution or other entity or person
or insurance or reinsurance against loss with respect to mortgages or mortgage loans,
including the power to pay premiums on such insurance or reinsurance.
(8) The corporation may insure, reinsure, or cause to be insured or reinsured
mortgage loans or mortgages on residential housing, may receive premiums on such
insurance or reinsurance, may establish reserves for losses, and may participate in the
insurance or reinsurance of mortgage loans or mortgages on residential housing with
the federal or state government.
(9) The corporation may enter into agreements and contracts with persons
and entities including but not limited to the federal or state government or its
subdivisions, agencies, or instrumentalities, or with mortgagors or lending
institutions.
(10) The corporation may undertake and carry out or authorize the
completion of studies and analyses of housing conditions and needs within the state
and ways of meeting such needs, may make such studies and analyses available to the
public and to the housing industry, may engage in research, and may disseminate
information on housing, in coordination with the office of community development
within the division of administration.
(11) The corporation may accept federal, state, or private financial or
technical assistance, comply with any conditions for such assistance, and become a
"co-insurer" with the United States Department of Housing and Urban Development
or other appropriate federal agency for housing finance programs.
(12) The corporation may collect fees and charges in connection with its
loans, insurance, commitments, and services including but not limited to
reimbursement of costs of issuing bonds, service charges, and insurance premiums.
(13) The corporation may purchase secured loans or make lending
commitments to purchase or sell construction or mortgage loans with respect to
residential housing. Further, the corporation may make secured loans to lending
institutions, including commitments therefor, with respect to the making of
construction or mortgage loans by lending institutions for residential housing.
(14) The corporation may acquire or contract to acquire from any person,
firm, corporation, municipality, federal or state agency, by grant, purchase, or
otherwise, movable or immovable property or any interest therein; may own, hold,
clear, improve, lease, construct, or rehabilitate, and may sell, invest, assign,
exchange, transfer, convey, lease, mortgage, or otherwise dispose of or encumber the
same, subject to the rights of holders of the bonds of the corporation, at public or
private sale, with or without public bidding.
(15) The corporation may borrow money, issue bonds, and provide for the
rights of the lenders or holders thereof.
(16) The corporation may, subject to the rights of holders of the bonds of the
corporation, consent to any modification with respect to the rate of interest, time
payment of any installment of principal or interest, security or other term of any loan,
contract, mortgage, mortgage loan or commitment therefor, or agreement of any kind
to which the corporation is a party or beneficiary.
(17) The corporation may maintain an office, in addition to the office in
Baton Rouge, at such place or places in the state as the corporation shall determine.
(18) In carrying out its functions under this Chapter, the corporation shall
accomplish all of the following:
(a) The corporation shall adopt rules and regulations which shall require fair,
impartial, and equitable treatment of all lending institutions by the corporation.
(b) Such rules and regulations shall ensure that favoritism shall not be an
element in the allocation of services by the corporation and that objective standards
and criteria shall control and govern access to the allocation of services and functions
authorized by this Chapter.
(c) The board of directors of the corporation shall establish statewide policy
for the financing of housing for persons or families of low or moderate income and
for senior citizens and persons with disabilities and such policy shall apply to all
units, divisions, agencies, public corporations, and instrumentalities of the state, and
may include the division of administration, involved directly or indirectly in
financing single family or multi-family housing for such persons or families.
(19) The corporation may purchase secured loans or make lending
commitments to purchase loans on multi-family housing projects under such
guidelines, rules, and restrictions as shall be adopted by the corporation.
(20) The corporation is authorized to sell residential loans purchased by it or
by others either singly or in "packages" or pools to investors, including the retirement
plans and trusts established for the employees of the state and its subdivisions,
agencies, instrumentalities, and units of government which may be authorized to
purchase residential first mortgages for investment purposes; however, all such
mortgage loans purchased by the corporation for resale shall have been made on real
estate in the state.
(21) Notwithstanding any provisions of this Chapter or any other law to the
contrary, specifically R.S. 12:202.1, the corporation may create or cause to be created
such nonprofit corporations as may be necessary or expedient to participate in
housing programs of the federal government or its agencies and instrumentalities.
(22) Notwithstanding the provisions of this Chapter or any other law to the
contrary, specifically R.S. 12:202.1, the corporation may create or cause to be created
such nonprofit corporations as may be necessary or desirable to establish housing
equity funds, the purpose of which shall be to direct the investment of capital
primarily from Louisiana residents to residential housing developments qualifying
under Section 42 of the Internal Revenue Code of 1986 for low income housing
credits.
(23) The corporation shall administer the federal grants for energy assistance
and weatherization services for low-income persons.
(24) The corporation shall administer the Louisiana Housing Trust Fund.
(25) Notwithstanding any provisions of this Chapter or any other law to the
contrary, the corporation is authorized to:
(a) Sponsor a statewide community housing development organization to
partner with or to expand the capacity of local nonprofit organizations in limited
resource communities and to develop and manage affordable residential rental
housing in partnership with such local nonprofit organizations.
(b) Originate and fund second mortgage loans to persons or households of
low or moderate income as defined by the United States Department of Housing and
Urban Development.
(c) Finance directly pools of loans to public housing authorities as
established under the Louisiana Housing Authorities Law, contained in R.S. 40:381
et seq.
(d) Establish one or more subsidiaries to carry out the purposes of this
Chapter.
(e) Establish the Louisiana Housing Finance Agency as a subsidiary of the
corporation, and to operate the agency as a subsidiary until June 30, 2012.
(f) Notwithstanding any provision of law to the contrary, the corporation may
assume the obligations of any entity that becomes a subsidiary of the corporation in
accordance with this Chapter.
(26)(a) Notwithstanding any provision of law to the contrary, the corporation
is authorized and required to assume administration or management of disaster
recovery programs funded by the Department of Housing and Urban Development
Community Development Block Grants and the Supplemental Appropriations Act
of 2008 (P.L. 110-252) as designated by the commissioner of administration.
(b) In the event that a state agency has contracts in place for the purpose of
the implementation of such programs, the agency may transfer to the corporation the
contracts or the portion of the contracts related to the programs transferred.
(c) Notwithstanding any provisions of law to the contrary, the Homelessness
Prevention and Rapid Re-housing program in the Department of Children and Family
Services shall be transferred to the corporation.
(27) The corporation shall have all powers necessary to access any and all
federal funding related to housing. The corporation may access programs funded by
the Department of Housing and Urban Development's Community Development
Block Grants.
(28)(a) The corporation, through its board, may establish advisory
committees to assist in carrying out its mission, goals, and purposes.
(b)(i) The corporation shall establish the Housing and Transportation
Planning and Coordinating Commission as an advisory committee. The primary
purpose of this commission shall be to advise the corporation in coordinating the
integration of planning and spending by local governments, parish and municipal
governing authorities, redevelopment authorities, and the Department of
Transportation and Development on housing and transportation needs. The
commission shall recommend multiple modes of transportation and multiple types
of housing developments to be planned so as to provide planned recreational growth,
more fully integrated and livable communities, and effective spending of public
funds for the betterment of life for Louisiana citizens.
(ii) The commission shall be comprised of the following members:
(aa) The executive director of the Louisiana Housing Corporation, or his
designee.
(bb) One member appointed by the commissioner of administration to
represent the office of facility planning and control.
(cc) The secretary of the Department of Transportation and Development, or
his designee.
(dd) The secretary of the Department of Children and Family Services, or his
designee.
(ee) The president of the Louisiana Housing Alliance, or his designee.
(ff) One member appointed by the National Association of Regional Councils
from its Louisiana chapter.
(gg) One member appointed by the Louisiana chapter of the Association of
Metropolitan Planning Organizations.
(hh) One member appointed by the National Association of Housing and
Redevelopment Officials from its Louisiana chapter.
(ii) Repealed by Acts 2012, No. 686, §2.
(jj) Two members of nonprofit housing development organizations appointed
by the board of the Louisiana Housing Corporation.
(kk) One member appointed by the Louisiana Housing Council.
(ll) One member appointed by the Policy Jury Association of Louisiana.
(mm) One member appointed by Louisiana Municipal Association.
(nn) One member appointed by the Louisiana state chapter of the American
Planning Association.
(oo) The superintendent of the Department of Education, or his designee.
(pp) The secretary of Louisiana Economic Development, or his designee.
(qq) One member appointed by the Louisiana Association of Affordable
Housing Providers.
(iii) Members of the commission appointed shall serve at the pleasure of the
appointing authority and serve four-year terms. A vacancy in the office of a member
shall be filled in the same manner as the original appointment for the remainder of
the unexpired term.
(iv) The commission shall elect a chairman and such other officers as it
deems necessary from among its members.
(v) Members of the commission shall not receive any salary or
reimbursement of expenses for performing their duties as members other than
compensation or reimbursement provided by their individual employers.
(vi) The commission shall create a statewide housing plan for state agencies
and conduct a parish-by-parish assessment of housing. The assessment shall be
conducted once every five years and the statewide housing plan shall be updated
based on the most recent assessment. All parish governing authorities, local
governments, and redevelopment authorities shall cooperate with the commission.
(aa) The assessments shall document the overall supply of housing including
single-family, multi-family, special needs, and institutional housing; conditions of
the housing stock; housing cost burden in each parish; and access to transit and job
centers in each parish or metropolitan planning area.
(bb) As part of its assessment, the commission shall hold not fewer than three
public hearings in each region of the state to provide for citizens participation in the
development of the plan. In each region, each such hearing shall be held at a
different time of day and on a different day of the week from the other meetings in
that region in order to maximize the opportunity for citizen participation. Members
of the commission shall be invited guests to the public hearings.
(cc) The commission, at regular intervals and in public meetings, shall update
the board on the progress of the development of the statewide housing plan and
maintenance thereof or any updates thereto. The commission shall also submit the
developed plan, or once the plan is developed any recommended updates to such
plan, to the board for approval, approval with comments, or rejection at a schedule
determined by the board. Any plan or update which is rejected by the board shall not
be incorporated into the statewide housing plan.
(vii) The commission shall advise and provide recommendations to the board
in the following areas:
(aa) Planning and housing regions of the state.
(bb) Public and alternative transportation needs. Such recommendation may
include alternative modes of transportation including public transit, bus rapid transit,
and rail and bicycle paths.
(cc) Estimates on low and moderate income housing needs.
(dd) Criteria and guidelines for parishes and municipalities to determine and
address their local affordable housing needs, to promote consistency and uniformity
in the information obtained and reported.
(ee) Criteria and guidelines for parishes, municipalities, and redevelopment
authorities, and metropolitan planning organizations to coordinate and address local
and regional transportation needs, to promote consistency and uniformity in the
information obtained and reported.
(ff) Schedule and establish criteria to review housing and transportation plans
for parishes and municipalities, and provide technical assistance to those parishes and
municipalities unable to develop plans consistent with the established criteria and
guidelines to determine consistency with established criteria and guidelines to
address local affordable housing and transportation needs.
(29) The corporation shall have all the powers and duties of a housing
authority created pursuant to the Louisiana Housing Authorities Law, R.S. 40:381 et
seq., necessary to administer the Permanent Supportive Housing program.
B. The corporation may promulgate rules, regulations, or other procedures
for the coordination of all state-administered housing programs. Notwithstanding
any provisions of this Chapter or any other provision of the law to the contrary, every
department, agency, or instrumentality of the state administering any federal or state
housing resource shall provide assistance to the corporation, including but not limited
to information, technical assistance, and personnel of such department, agency, or
instrumentality, which is being or may be used to provide decent, safe, sanitary,
accessible, and affordable housing to the residents of the state in order to accomplish
the goals and to comply with the provisions of this Chapter.
C. The Louisiana Housing Corporation is authorized and directed to
cooperate and coordinate with units of general local government, local public
housing authorities, and other instrumentalities of local government, including but
not limited to public trusts and local nonprofit housing corporations, in developing
a comprehensive plan and housing strategy as required by the Department of Housing
and Urban Development. Such plan shall be submitted to the House Committee on
Municipal, Parochial and Cultural Affairs and the Senate Committee on Local and
Municipal Affairs for review within thirty days of its completion.
D. The Louisiana Housing Corporation is authorized and directed to increase
the supply of supportive housing, which combines structural features and services
needed to enable persons with disabilities and senior citizens to live with dignity and
independence.
E. The Louisiana Housing Corporation is authorized and directed to finance
mixed-income residential rental developments or homeownership using federal
housing tax benefits or any other available federal funds or benefits.

Legislative History

Acts 2011, No. 408, §1, eff. July 5, 2011; Acts 2012, No. 686, §§1, 2.