Section 33334.19 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.
33334.19
. (a) Notwithstanding Section 33670 or any other provision
of this division, an agency may increase, improve, and preserve the
supply of low- and moderate-income housing located within a transit
village plan adopted pursuant to the Transit Village Development
Planning Act of 1994, Article 8.5 (commencing with Section 65460) of
Chapter 3 of Division 1 of Title 7 of the Government Code, and is
within its territorial limits but outside of a project area. In the
event that the agency seeks to comply with any of its obligations
under Section 33413 under a transit village plan, it shall provide
two units outside of a project area, both of which shall be at the
same level of affordability as, and otherwise comply with, all
requirements pertaining to the unit that would otherwise have been
available inside a project area.
(b) To implement subdivision (a), an agency may increase, improve,
and preserve the supply of low- and moderate-income housing which is
located within a transit village plan with funds from the Low and
Moderate Income Housing Fund. In using these funds, the agency shall
comply with all requirements of the Community Redevelopment Law
(Division 24 (commencing with Section 33000) of the Health and Safety
Code).
(c) To implement subdivision (a), notwithstanding subdivision (a)
of Section 33670, an agency may determine the location and character
of any residential construction which is located within a transit
village plan and which is to be financed pursuant to Chapter 8
(commencing with Section 33750) and may make mortgage or construction
loans to participating parties through qualified mortgage lenders,
or purchase mortgage or construction loans without premium made by
qualified mortgage lenders to participating parties, for financing
residential construction of multifamily rental units located within a
transit village plan.
(d) Expenditures from the Low and Moderate Income Housing Fund
pursuant to this section shall be deemed to be part of the agency's
redevelopment plans, as if those redevelopment plans had been amended
to include those expenditures, and the agency is not required to
comply with Article 12 (commencing with Section 33450). The
Legislature hereby deems those expenditures to benefit the agency's
project areas.