Budget Amendment ID: FY2024-S3-241

ECO 241

Small Properties State Acquisition Fund

Ms. Jehlen, Ms. Edwards, Messrs. Brady and Payano and Ms. Rausch moved that the proposed new text be amended in section 2, by inserting after item 7004-9316 the following new item:-

"xxxx-xxxx For the Small Properties State Acquisition Fund; provided, that this program is to issue soft loans to supplement other acquisition soft loans administered by municipal or other affordable housing acquisition lenders on a rolling basis; provided further, that acquisitions pursuant to this program shall follow the affordability restrictions of said affordable housing acquisition lenders; provided further, that loans under this program shall be used for the acquisition of buildings of no less than 1 unit and no more than 8 units of residential housing for rental or ownership, or mixed-use buildings, for a term of at least 30 years....................................$12,000,000"