53560. (a) There is hereby established the Transit-Oriented Development Implementation Program, to be administered by the Department of Housing and Community Development, to provide local assistance to developers for the purpose of developing higher density uses within close proximity to transit stations that will increase public transit riderships. (b) The department may adopt guidelines to administer this […]
53561. (a) There is hereby created in the State Treasury the Transit-Oriented Development Implementation Fund. (b) All interest, dividends, and pecuniary gains from investments or deposits of moneys in the fund shall accrue to the fund, notwithstanding Section 16305.7 of the Government Code. There shall be paid into the fund both of the following: (1) Any moneys appropriated […]
53562. (a) To the extent that funds are available, the department shall make loans for the development and construction of a housing development project within close proximity to a transit station. To be eligible for a loan, the housing development project shall meet all of the following: (1) At least 15 percent of the units in the […]
53564. (a) The department may use up to 5 percent of the funds appropriated for the purposes of this part for its costs in administering the programs authorized by this part. (b) The department may administer the programs pursuant to guidelines that shall not be subject to the requirements of Chapter 3.5 (commencing with Section 11340) of […]
53565. (a) Notwithstanding any other law, funds appropriated for deposit into the Regional Planning, Housing, and Infill Incentive Account in the Housing and Emergency Shelter Trust Fund of 2006 by Item 2240-101-6069 of the Budget Act of 2007, as reappropriated by Item 2240-492 of the Budget Act of 2010; Item 2240-101-6069 of the Budget Act of […]
53566. (a) For any loans issued pursuant to this part, both of the following shall apply: (1) Loan terms for rental housing shall be consistent with Section 50675.6 and any other requirements concerning loan terms in the Multifamily Housing Program (Chapter 6.7 (commencing with Section 50675) of Part 2). (2) Loan terms for owner-occupied housing shall be consistent […]
