Section 33334.13 Of Article 4. Preparation And Adoption Of Redevelopment Plans By The Agency From California Health And Safety Code >> Division 24. >> Part 1. >> Chapter 4. >> Article 4.
33334.13
. (a) Notwithstanding Sections 50079.5, 50093, and 50105,
for purposes of providing assistance to mortgagors participating in a
homeownership residential mortgage revenue bond program pursuant to
Section 33750, or a home financing program pursuant to Section 52020,
or a California Housing Finance Agency home financing program, "area
median income" means the highest of the following:
(1) Statewide median household income.
(2) Countywide median household income.
(3) Median family income for the area, as determined by the United
States Department of Housing and Urban Development with respect to
either a standard metropolitan statistical area or an area outside of
a standard metropolitan statistical area.
Nothing in Section 50093 shall prevent the agency from adopting
separate family size adjustment factors or programmatic definitions
of income to qualify households, persons, and families for the
programs of the agency.
(b) To the extent that any portion of the Low and Moderate Income
Housing Fund is expended to provide assistance to mortgagors
participating in programs whose income exceeds that of persons and
families of low or moderate income, as defined in Section 50093, the
agency shall, within two years, expend or enter into a legally
enforceable agreement to expend twice that sum exclusively to
increase and improve the community's supply of housing available at
affordable housing cost, as defined in Section 50052.5, to lower
income households, as defined in Section 50079.5, of which at least
50 percent shall be very low income households, as defined in Section
50105.
(c) In addition to the requirements of subdivision (c) of Section
33413, the agency shall require that the lower and very low income
dwelling units developed pursuant to this subdivision remain
available at affordable housing cost to lower and very low income
households for at least 30 years, except as to dwelling units
developed with the assistance of federal or state subsidy programs
which terminate in a shorter period and cannot be extended or
renewed.
(d) The agency shall include within the report required by Section
33080 information with respect to compliance by the agency with the
requirements of this subdivision.