Budget Amendment ID: FY2015-S4-349

ECO 349

Promoting Home Ownership

Mr. Rush moved that the proposed new text be amended moved that the bill be amended by inserting, after section __, the following new section:-

“SECTION __.  Notwithstanding any general or special law, regulation or guideline to the contrary, II.A.2.c.(1) of the Department of Housing and Community Development Comprehensive Permit Guidelines is amended by striking it in its entirety and inserting in place thereof the following:-  ‘1. General - In an owner occupied facility, in communities where the percentage of renter-occupied residential units exceeds 30% of all occupied residential units, if at least 25% of units are to be occupied by Income Eligible Households earning 80% or less than the area median income, or alternatively, if at least 20% of units are to be occupied by households earning 50% or less of area median income, and meet all criteria outlined in section 1, then all of the units in the development shall be eligible for inclusion in the SHI.  In determining the number of units required to satisfy either percentage threshold, fractional numbers shall be rounded up to the nearest whole number.”