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 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.