Section 215.030 - Expands powers of the Missouri Housing Development Commission to make or purchase mortgage loans for residential housing, for sale or rent, in distressed communities. The program will be subject to appropriation and authorize no-interest loans for the construction of single family homes. Non-profit organizations may apply and must give the required information. Loans are made according to need. The MHDC may require an expiration date, reports and inspections.
Loans are to be put in a revolving fund to build homes one at a time until sold.
Homes shall be constructed on sites only where water and sewage services are available. Priority shall be given to low and moderate income families. An anti-speculation clause shall be added to deter buyers from reselling to make a profit.