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 for the predevelopment costs of affordable housing and a grant to assist nonprofits receiving grants or loans under this Act. Sunsets January 2, 2028.
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.