California Health and Safety Code

§ 51480

HSC § 51480 Effective Sep 5, 1990Div. 31 · Part 3 · Ch. 10

Statute text

(a)(1) Mortgage lending authorized by this chapter shall be for multifamily rental housing developments at risk of conversion. For the purposes of this chapter, multifamily rental housing developments at risk of conversion shall include any of the following:

(A)Federally assisted housing for which the low-income use restriction may terminate or be substantially modified within four years.

(B)State or locally assisted housing for which the low-income use restrictions may terminate or be substantially modified within four years.

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Legislative history

Added by Stats. 1990, Ch. 577, Sec. 1. Effective September 5, 1990.