California Health and Safety Code

§ 52079

HSC § 52079 Effective Mar 11, 2002Div. 31 · Part 5 · Ch. 7 · Art. 1

Statute text

A city or county may, in conjunction with the financing of multifamily rental housing pursuant to this chapter, finance the acquisition, construction, rehabilitation, refinancing, or development of commercial property for lease, subject to all of the following conditions:

(a)No more than 10 percent of the proceeds of any revenue bonds issued pursuant to this chapter may be used to develop the commercial property for lease.

(b)The commercial property developed will be located on the same parcel or on a parcel adjacent to a multifamily rental housing development.

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Legislative history

Added by Stats. 2002, Ch. 12, Sec. 1. Effective March 11, 2002.