reglab/housing_qa huggingface dataset:
CA Health & Safety Code § 50562 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 3.9 - Portfolio Restructuring|Section 50562.

50562.  (a) If a department loan is extended or subordinated, the department approves the reinstatement of a qualifying unpaid matured loan, or a new tax credit investment occurs, then the department shall enter into a new regulatory agreement with the development’s owner, or amend the existing agreement. The agreement shall be binding upon the development’s owner and successors in interest upon sale or transfer of the development property, regardless of any prepayment of the loan. The agreement shall be recorded in the office of the county recorder in the county in which the development is located. The new or amended regulatory agreement shall:(1) Set standards for tenant selection to ensure occupancy by the eligible households.(2) Govern the terms of occupancy agreements.(3) Restrict rents for assisted units, consistent with this chapter.(4) Provide for periodic inspections by the department.(5) Require occupancy and financial reports, and financial audits for the development.(6) Govern the use of operating income for the development.(7) Govern the use of reserves for the development.(8) Have a term for not less than the term of the loan, including any extension.(9) Include other provisions necessary to carry out the purposes of this chapter.(b) The development’s owner shall agree to replace or amend any other loan document to accomplish the purposes of this chapter.(Amended by Stats. 2014, Ch. 680, Sec. 3. (AB 2161) Effective January 1, 2015.)
CA Health & Safety Code § 50564 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 3.9 - Portfolio Restructuring|Section 50564.

50564.  (a) Notwithstanding any other law, the department may approve the extension of a loan to an owner who occupies his or her housing unit funded by the department under any of the following loan programs: the owner component of the California Natural Disaster Assistance Act Program established by Chapter 6.5 (commencing with Section 50660), the California Homeownership Assistance Program established by Chapter 10 (commencing with Section 50775), the owner component of the California Housing Rehabilitation Program established by Chapter 6.5 (commencing with 50668), the owner component of the Deferred Payment Rehabilitation Loan Program established by Chapter 6.5 (commencing with Section 50660), the owner component of the State Earthquake Rehabilitation Assistance Program established by Chapter 6.5 (commencing with Section 50671), and the owner component of the Mobilehome Park Resident Ownership Program established by Chapter 11 (commencing with Section 50780).(b) A loan extension for a period of 10 years may be granted when the loan is due if the owner demonstrates that his or her household income is no more 50 percent of area median income, adjusted for family size, or if the department determines that it is not in the department’s interest to call the loan due.(c) Loan terms contained in the existing promissory note shall apply during the period of the loan extension. All unpaid principal and interest shall be due at the end of the extension. However, the department may require periodic payments of principal or interest, or both, during the extension period. If the borrower repays the loan prior to the end of the extension, program restrictions shall be removed. As necessary to generate sufficient revenue to cover the cost of processing loan transactions and long-term monitoring of program requirements, the department may also assess loan processing and monitoring fees.(d) The department may implement this section through guidelines that shall not be subject to Chapter 2.5 (commencing with Section 11340) of Part 1 of Title 2 of the Government Code.(Added by Stats. 2012, Ch. 780, Sec. 3. (AB 1699) Effective January 1, 2013.)
CA Health & Safety Code § 50565 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 3.9 - Portfolio Restructuring|Section 50565.

50565.  (a) For purposes of this chapter, “qualifying unpaid matured loan” shall mean either of the following:(1) A loan made pursuant to the programs listed in subdivision (a) of Section 50560 that is in material compliance, as determined by the department, with all loan terms and conditions, including, but not limited to, those required by the department loan documents or applicable statutes and regulations, or otherwise required by the department, other than having reached the due date of its promissory note without being paid.(2) A matured loan that is not in compliance, as described in paragraph (1), and is being transferred to another borrower approved by the department.(b) A reinstatement of a qualifying unpaid matured loan under this chapter shall be treated as if its term has been extended from the expired due date for purposes of calculating obligations of the borrower to the department.(Added by Stats. 2014, Ch. 680, Sec. 5. (AB 2161) Effective January 1, 2015.)
CA Health & Safety Code § 50600 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 5 - Preservation Interim Loan Programs|Section 50600.

50600.  The Legislature finds and declares all of the following:(a)  The federal Housing and Urban Development Department subsidizes over 147,000 units of California’s affordable rental housing. As the owners’ obligations expire, more than 19,000 of these units have already been converted to market-rate housing, and an additional 78,000 units are considered at risk of imminent conversion. In addition, more than 7,600 units financed with state and federal low-income housing tax credits will face some risk of conversion as the first generation of tax credit developments reach the expiration of their income and rent restrictions over the next five years. These at-risk units will likely convert to market-rate housing unless they are acquired by organizations that commit to maintaining their affordable rents. (b)  The loss of these assisted units represents not only a loss of precious affordable housing stock and hardship and potential dislocation for tenants, 40 percent of whom are seniors, but also the loss of billions of dollars of federal housing assistance to California each year. (c)  This looming loss of affordable rental housing is exacerbated by California’s failure to produce more than 50 percent of the new housing units needed to house the state’s population for each of the last eight years. The shortage is most strongly felt in the areas of low-cost housing for working families, people moving from welfare to work, and seniors and disabled people. (d)  Affordable housing organizations that wish to purchase properties at risk of converting to market rate housing often do not have access to the short-term capital needed to purchase the properties quickly. This lack of short-term capital greatly reduces the likelihood that these properties will remain affordable. (e)  The intent of this chapter is to create a short-term capital loan program to ensure that California’s supply of affordable housing is not depleted by the conversion of existing government-assisted rental housing to market-rate housing. (Added by Stats. 2002, Ch. 721, Sec. 1. Effective January 1, 2003.)
CA Health & Safety Code § 50601 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 5 - Preservation Interim Loan Programs|Section 50601.

50601.  (a) The Preservation Opportunity Fund is hereby created in the State Treasury. Notwithstanding Section 13340 of the Government Code, all money in the fund is continuously appropriated to the department without regard to fiscal years for the purposes of this chapter and for costs incurred in administering the program. The combined administrative expenses of the department and the agency shall not exceed 5 percent of the funds deposited in the fund for the purposes of this chapter.(b) The following shall be paid into the fund:(1) Any money appropriated and made available by the Legislature for purposes of the fund.(2) Any money that the department or the agency receives in repayment of loans from the fund, including interest therefrom, except as provided in subdivision (f) of Section 50603.(3) Any other money that may be made available to the department for the purposes of this chapter from any other source.(Amended by Stats. 2005, Ch. 74, Sec. 50. Effective July 19, 2005.)
CA Health & Safety Code § 50602 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 5 - Preservation Interim Loan Programs|Section 50602.

50602.  The definitions contained in Chapter 2 (commencing with Section 50050) of Part 1 shall apply to this chapter, except as follows:(a)  “Assisted housing development” has the same meaning as in paragraph (3) of subdivision (a) of Section 65863.10 of the Government Code. (b)  “Fund” means the Preservation Opportunity Fund created by Section 50601. (Added by Stats. 2002, Ch. 721, Sec. 1. Effective January 1, 2003.)
CA Health & Safety Code § 50605 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 5 - Preservation Interim Loan Programs|Section 50605.

50605.  The department shall include in its last annual report submitted to the Legislature, pursuant to Section 50408, on or before December 31, 2005, all of the following:(a)  A general description of activities undertaken pursuant to this chapter. (b)  For each project assisted pursuant to this chapter, a description of the expiration date of the project’s rent restrictions; the name and location of the purchaser; the acquisition price; the number of assisted units preserved; and the level of affordability maintained. (c)  If the sponsor for the Interim Repositioning Program subsequently sells any projects, a description of the name and location of the purchaser, the purchase price, and the total transaction costs. (d)  With respect to the Interim Repositioning Program, an evaluation of the sponsor’s success in leveraging private capital. (e)  A comparison of the cost of preserving units under the Preservation Opportunity Program versus the Interim Repositioning Program. (f)  If sufficient data exist, a comparison of the cost of preserving units with rent restrictions that have expired or are eligible to expire within two years versus units with rent restrictions that are eligible to expire within three to five years. (g)  An overall assessment of the effectiveness of the Preservation Opportunity Program and the Interim Repositioning Program as tools for preserving affordable housing. (Added by Stats. 2002, Ch. 721, Sec. 1. Effective January 1, 2003.)
CA Health & Safety Code § 50606 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 5.5 - Affordable Housing Preservation|Section 50606.

50606.  (a) It is the intent of the Legislature in enacting this chapter to provide the department the flexibility necessary to maintain the supply and quality of the affordable rental housing units for which there has already been a significant public investment.(b) The Legislature finds and declares all of the following:(1) Potential conversion of affordable housing to market rate housing is an ongoing and critical statewide problem.(2) Additionally, loans made by the department that are reaching the end of their affordability periods are also at risk of converting to market rate rents.(3) Lack of access to financial resources to rehabilitate and extend the affordability periods of housing projects increases the risk of conversion to market rate rents.(4) As affordable housing converts to market rate rents, displaced tenants may be unable to obtain replacement affordable housing, which could exacerbate the state’s homelessness crisis.(Added by Stats. 2021, Ch. 111, Sec. 16. (AB 140) Effective July 19, 2021.)
CA Health & Safety Code § 50607 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 5.5 - Affordable Housing Preservation|Section 50607.

50607.  (a) Upon appropriation by the Legislature for purposes of this chapter, the department may make loans or grants, or both loans and grants, to rehabilitate, capitalize operating subsidy reserves for, and extend the long-term affordability of department-funded housing projects that have an affordability restriction that has expired, that have an affordability restriction with a remaining term of less than five years, or are otherwise at risk for conversion.(b) Notwithstanding any other law, if the department makes a loan or grant pursuant to this chapter to a project that has an existing loan issued by the department for a multifamily housing project, the department may additionally approve an extension of the existing loan, the reinstatement of a qualifying unpaid matured loan, the subordination of a loan made by the department to new indebtedness, or an investment of tax credit equity for purposes of funding necessary rehabilitation and extending the affordability of the project without complying with the requirements of Chapter 3.9 (commencing with Section 50560). The department may also forgive some or all of the accrued interest on the existing department loan if necessary to facilitate the department’s new rehabilitation loan.(c) The department may establish loan processing or transaction fees for loans or grants authorized by this chapter, as necessary, in an amount not to exceed the amount necessary to generate sufficient revenue to cover the cost of processing loan transactions under this chapter. However, the department may waive fees to the extent necessary for project feasibility.(d) The department may adopt guidelines to implement this chapter. Any guidelines adopted pursuant to this section are hereby exempted from the rulemaking provisions of the Administrative Procedure Act (Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code).(Added by Stats. 2021, Ch. 111, Sec. 16. (AB 140) Effective July 19, 2021.)
CA Health & Safety Code § 50608 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 5.5 - Affordable Housing Preservation|Section 50608.

50608.  (a) For any loans issued pursuant to this chapter, principal and accumulated interest is due and payable upon completion of the term of the loan. The loan shall bear simple interest at the rate of 3 percent per annum on the unpaid principal balance. The department shall require annual loan payments in the minimum amount necessary to cover the costs of project monitoring. For the first 30 years of the loan term, the amount of the required loan payments shall not exceed 0.42 percent per annum.(b) All moneys received by the department in repayment of loans made pursuant to this chapter, including interest and payments in advance in lieu of future interest, shall be deposited in the Housing Rehabilitation Loan Fund established by Section 50661. Moneys deposited in that fund pursuant to this subdivision shall be used for purposes of the Multifamily Housing Program (Chapter 6.7 (commencing with Section 50675)). (c) The department may establish maximum loan-to-value requirements for some or all of the types of projects that are eligible for funding under this chapter.(d) The department shall establish per-unit and per-project loan limits for all project types. (Added by Stats. 2021, Ch. 111, Sec. 16. (AB 140) Effective July 19, 2021.)
CA Health & Safety Code § 50609 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 5.5 - Affordable Housing Preservation|Section 50609.

50609.  (a) The department may designate an amount not to exceed 1.5 percent of funds appropriated for use pursuant to this chapter for the purposes of curing or averting a default on the terms of any loan or other obligation by the recipient of financial assistance, or bidding at any foreclosure sale where the default or foreclosure sale would jeopardize the department’s security in the rental housing development assisted pursuant to this chapter. The funds so designated shall be known as the “default reserve.”(b) The department may use default reserve funds made available pursuant to this section to repair or maintain any rental housing development assisted pursuant to this chapter that was acquired to protect the department’s security interest.(c) The payment or advance of funds by the department pursuant to this section shall be exclusively within the department’s discretion, and no person shall be deemed to have any entitlement to the payment or advance of those funds. The amount of any funds expended by the department for the purposes of curing or averting a default shall be added to the loan amount secured by the rental housing development and shall be payable to the department upon demand.(Added by Stats. 2021, Ch. 111, Sec. 16. (AB 140) Effective July 19, 2021.)
CA Health & Safety Code § 50650 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 6 - CalHome Program|Section 50650.

50650.  The Legislature finds and declares as follows:(a)  An adequate supply of safe and affordable housing is the foundation for strong and sustainable communities. Owner occupied housing is a key housing resource, contributing to neighborhood stability as well as economic vitality.(b)  In California, homeownership is beyond the reach of a large segment of the population. There are also many homeowners who lack the resources to make necessary repairs to their homes, or who would welcome the opportunity to share them with suitable tenants.(c)  Reflecting California’s diversity, there is a variety of proven approaches to the promotion of homeownership within the state. The purpose of the CalHome Program established by this chapter is to support existing homeownership programs aimed at lower and very low income households, and in the case of a disaster, as defined in Section 8680.3 of the Government Code, households at or below moderate income, and operated by private nonprofit and local government agencies, and thereby to increase homeownership, encourage neighborhood revitalization and sustainable development, and maximize use of existing homes.(d)  The CalHome Program is intended to take the place of the Senior Citizens’ Shared Housing Program established by Chapter 3.6 (commencing with Section 50533), which is repealed by the act enacting this chapter.(Amended by Stats. 2019, Ch. 159, Sec. 15. (AB 101) Effective July 31, 2019.)
CA Health & Safety Code § 50650.1 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 6 - CalHome Program|Section 50650.1.

50650.1.  This chapter shall be known and may be cited as the CalHome Program.(Added by Stats. 2000, Ch. 84, Sec. 2. Effective January 1, 2001.)
CA Health & Safety Code § 50650.2 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 6 - CalHome Program|Section 50650.2.

50650.2.  The department shall administer this chapter.(Added by Stats. 2000, Ch. 84, Sec. 2. Effective January 1, 2001.)
CA Health & Safety Code § 50650.4 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 6 - CalHome Program|Section 50650.4.

50650.4.  (a) To be eligible to receive a grant or loan, local public agencies or nonprofit corporations shall demonstrate sufficient organizational stability and capacity to carry out the activity for which they are requesting funds, including, where applicable, the capacity to manage a portfolio of individual loans over an extended time period. Capacity may be demonstrated by substantial successful experience performing similar activities, or through other means acceptable to the department. In administering the CalHome program, the department may permit local agencies and nonprofit corporations to apply their own underwriting guidelines when evaluating CalHome rehabilitation loan applications, following prior review and approval of those guidelines by the department. The local agency or nonprofit corporation shall not subsequently alter its underwriting guidelines with respect to the use of CalHome funds without review and approval by the department, including how the local agencies and nonprofit corporations will ensure participation by low-income households if making loans in response to a disaster as described in paragraph (1) of subdivision (g) of Section 50650.3. In allocating funds, the department shall utilize a competitive application process, using weighted evaluation criteria, including, but not limited to, the extent that the program or project utilizes volunteer or self-help labor, trains youth and young adults in construction skills, creates balanced communities, involves community participation, or whether the program or project contributes toward community revitalization. To the extent feasible, the application process shall ensure a reasonable geographic distribution of funds.(b) In administering department funds received pursuant to subdivision (a), local public agencies and nonprofit corporations shall not deny the funding application of, or apply different underwriting guidelines to, a housing program or project solely on the basis of either of the following:(1) The home is a manufactured home or mobilehome, as defined in Sections 18007 and 18008.(2) The home is located in a mobilehome park or in a manufactured housing community, as defined in Sections 18210.7 and 18214.(Amended by Stats. 2019, Ch. 159, Sec. 17. (AB 101) Effective July 31, 2019.)
CA Health & Safety Code § 50650.6 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 6 - CalHome Program|Section 50650.6.

50650.6.  The department may use up to 5 percent of the funds appropriated for the purposes of this chapter for its costs in administering the program.(Added by Stats. 2000, Ch. 84, Sec. 2. Effective January 1, 2001.)
CA Health & Safety Code § 50650.7 (2021)
2021 California Code|Health and Safety Code - HSC|DIVISION 31 - HOUSING AND HOME FINANCE|PART 2 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT|CHAPTER 6 - CalHome Program|Section 50650.7.

50650.7.  For appropriations of fifteen million dollars ($15,000,000) or less, the department may administer the funds using guidelines that shall not be subject to the Administrative Procedure Act (Chapter 3.5 (commencing with Section 11340) of Part 1 of Title 2 of the Government Code). If an appropriation exceeds that amount, the department may administer the funds using guidelines for 24 months, during which time those guidelines shall not be subject to the Administrative Procedure Act. The guidelines and any regulations governing the CalHome Program shall include, among other things, loan terms and limits, underwriting standards, home price limits, application procedures and selection criteria, loan and grant documentation requirements, and monitoring requirements.(Added by Stats. 2000, Ch. 84, Sec. 2. Effective January 1, 2001.)