Sec. 8-265ll. Pilot program of revolving loans to developers for rehabilitation of existing housing.
Sec. 8-265ll. Pilot program of revolving loans to developers for rehabilitation
of existing housing. (a) The Connecticut Housing Finance Authority, in conjunction
with existing private lending programs and qualified lenders, shall develop a pilot program of revolving rehabilitation loans to developers, including nonprofit housing corporations, for the acquisition and rehabilitation of housing consisting of one to four dwelling units. Properties rehabilitated with loans made under this section shall be sold only
to persons meeting eligibility requirements for financial assistance under programs operated by the authority. In making loans under this section, the authority may give priority
to developers participating in local, state or federal programs financing the rehabilitation
of housing.
(b) The authority shall adopt written procedures in accordance with section 1-121
establishing procedures for the application and distribution of loans under this section.
(P.A. 96-147, S. 1, 3.)
History: P.A. 96-147 effective July 1, 1996.