Section 4-1204 - Purposes of Program

The purposes of the Program are to: (1) provide decent, safe, and sanitary rental housing for households of lower income; (2) provide financial assistance to political subdivisions or housing authorities to acquire, construct, reconstruct, renovate, or rehabilitate rental housing affordable to households of lower income; (3) stimulate the development and ownership of rental housing for households of lower income by political subdivisions, housing authorities, or partnerships that include political subdivisions or housing authorities; (4) provide financial assistance to private sector entities to acquire, construct, reconstruct, renovate, or rehabilitate housing units: (i) for sale to political subdivisions, housing authorities, or partnerships that include political subdivisions or housing authorities, as affordable rental housing for households of lower income; or (ii) for occupancy by households of lower income that include one or more individuals with disabilities or special needs; (5) promote affordable housing programs and increased contributions to the production of affordable rental housing by political subdivisions, housing authorities, and the private sector, including

s; (5) promote affordable housing programs and increased contributions to the production of affordable rental housing by political subdivisions, housing authorities, and the private sector, including for profit and nonprofit entities; (6) encourage households of lower income that live in partnership rental housing to contribute actively to the operation or maintenance of the housing or the community; (7) finance rental housing that is: (i) to be occupied by households of lower income; (ii) to be owned by political subdivisions or housing authorities or partnerships that include political subdivisions or housing authorities; and (iii) expected to be financially self-sufficient, without further governmental financing for maintenance, renovation, or operating subsidies; and (8) encourage the private sector to provide rental housing for households of lower income that include one or more individuals with disabilities or special needs.