§ 42-2703.02. Financing of housing projects.

Current through October 23, 2012

(a) The Agency may make, issue commitments for, participate in making loans or mortgage loans to sponsors for the financing of housing projects for eligible persons. Such housing projects shall comply with all applicable requirements regarding tenant income mixtures, tenant income, the number of units reserved for very-low, low and moderate income persons, and other requirements established by the Internal Revenue Service, the Department of Housing and Urban Development or other laws, rules and guidelines applicable under the Agency's plan of financing.

(b) The Agency when purchasing property shall issue only bonds that are government entity bonds of the Agency or 501(c)(3) bonds created by the Agency for the specific purpose of undertaking a development project.

                
                    var val = document.getElementById('citecontent').innerHTML;
                    art.dialog.defaults.title = window.location.href;
                    art.dialog.data('cite', val);
                    art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                    art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');

(Mar. 3, 1979, D.C. Law 2-135, § 302, 25 DCR 5008; Aug. 5, 1981, D.C. Law 4-28, § 2(k), 28 DCR 2848; Aug. 1, 1985, D.C. Law 6-15, § 8(b), 32 DCR 3570; Oct. 5, 1985, D.C. Law 6-44, § 2(e), 32 DCR 4487; Apr. 20, 1999, D.C. Law 12-247, § 2(i), 46 DCR 1100; Mar. 25, 2003, D.C. Law 14-239, § 2(d), 49 DCR 11162.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 45-2122.

1973 Ed., § 45-1909.

Effect of Amendments

D.C. Law 14-239 designated the existing text as subsection (a); and added subsec. (b).

Legislative History of Laws

For legislative history of D.C. Law 2-135, see Historical and Statutory Notes following § 42-2701.01.

For legislative history of D.C. Law 4-28, see Historical and Statutory Notes following § 42-2701.02.

For legislative history of D.C. Law 6-15, see Historical and Statutory Notes following § 42-2702.02.

For legislative history of D.C. Law 6-44, see Historical and Statutory Notes following § 42-2702.07.

For legislative history of D.C. Law 12-247, see Historical and Statutory Notes following § 42-2701.01.

For Law 14-239, see notes following § 42-2701.02.