16.184 - TRANSITIONAL HOUSING REVOLVING LOAN PROGRAM FUND.
16.184 TRANSITIONAL HOUSING REVOLVING LOAN PROGRAM
FUND.
1. A transitional housing revolving loan program fund is created
within the authority to further the availability of affordable
housing for parents that are reuniting with their children while
completing or participating in substance abuse treatment. The moneys
in the fund are annually appropriated to the authority to be used for
the development and operation of a revolving loan program to provide
financing to construct affordable transitional housing, including
through new construction or acquisition and rehabilitation of
existing housing. The housing provided shall be geographically
located in close proximity to licensed substance abuse treatment
programs. Preference in funding shall be given to projects that
reunite mothers with the mothers' children.
2. Moneys transferred by the authority for deposit in the
transitional housing revolving loan program fund, moneys appropriated
to the transitional housing revolving loan program, and any other
moneys available to and obtained or accepted by the authority for
placement in the fund shall be deposited in the fund. Additionally,
payment of interest, recaptures of awards, and other repayments to
the transitional housing revolving loan program fund shall be
credited to the fund. Notwithstanding section 12C.7, subsection 2,
interest or earnings on moneys in the transitional housing revolving
loan program fund shall be credited to the fund. Notwithstanding
section 8.33, moneys that remain unencumbered or unobligated at the
close of the fiscal year shall not revert but shall remain available
for the same purpose in the succeeding fiscal year.
3. The authority shall annually allocate moneys available in the
transitional housing revolving loan program fund for the development
of affordable transitional housing for parents that are reuniting
with the parents' children while completing or participating in
substance abuse treatment. The authority shall develop a joint
application process for the allocation of federal low-income housing
tax credits and the funds available under this section. Moneys
allocated to such projects may be in the form of loans, grants, or a
combination of loans and grants.
4. The authority shall adopt rules pursuant to chapter 17A to
administer this section. Section History: Recent Form
2005 Acts, ch 175, §55