HB 2964

Requires the Housing and Community Services Department to award loans for the predevelopment costs of affordable housing Requires the Housing and Community Services Department to award loans for the predevelopment costs of affordable housing [<i>and a grant to assist nonprofits receiving grants or loans under this Act.

Bill Text

• A-Engrossed
• Enrolled
• House Amendments to Introduced
• Introduced

Requires the Housing and Community Services Department to award loans for predevelopment costs of affordable housing and establish related program rules.

Original Bill Text

Sponsors#

Chief Sponsors: Mark Gamba

Co-Sponsors: Annessa Hartman, Hai Pham, Lew Frederick, Deb Patterson, Kathleen Taylor

Overview#

Digest: This Act makes OHCS provide loans for costs of low cost housing predevelopment. (Flesch Readability Score: 69.9). [Digest: This Act creates a temporary program for OHCS to award grants and loans for housing prep. (Flesch Readability Score: 74.2).] Requires the Housing and Community Services Department to award [grants] loans for the predevelopment costs of affordable housing [and a grant to assist nonprofits receiving grants or loans under this Act. Sunsets January 2, 2028]. Requires the department to adopt initial rules by June 1, 2026, and to combine other existing predevelopment loan programs. [Establishes the Affordable Housing Predevelopment Loan Fund. Continuously appropriates moneys in the fund to the department to award loans for predevelopment costs of affordable housing.] [Appropriates moneys from the General Fund to the department for grants and loans.] Declares an emergency, effective on passage.

Public Testimony

Legislative History