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Section 62109 Of Chapter 1. Housing For Persons Of Low And Moderate Income From California Government Code >> Division 4. >> Title 6. >> Part 2. >> Chapter 1.
62109
. (a) Notwithstanding Sections 50079.5, 50093, and 50105 of
the Health and Safety Code, for purposes of providing assistance to
mortgagors participating in a homeownership residential mortgage
revenue bond program pursuant to Section 33750 of the Health and
Safety Code, or a home financing program pursuant to Section 52020 of
the Health and Safety Code, 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.
(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 of the Health and Safety Code, the authority 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 an affordable housing cost, as defined in Section 50052.5, to lower income households, as defined in Section 50079.5 of the Health and Safety Code, of which at least 50 percent shall be very low income households, as defined in Section 50105 of the Health and Safety Code.
(c) In addition to the requirements of subdivision (c) of Section 33413 of the Health and Safety Code, the authority shall require that the lower and very low income dwelling units developed pursuant to this subdivision remain available at an affordable housing cost to lower and very low income households for at least 45 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 authority shall include within the report required by Section 62008 information with respect to compliance by the agency with the requirements of this subdivision.
(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.
(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 of the Health and Safety Code, the authority 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 an affordable housing cost, as defined in Section 50052.5, to lower income households, as defined in Section 50079.5 of the Health and Safety Code, of which at least 50 percent shall be very low income households, as defined in Section 50105 of the Health and Safety Code.
(c) In addition to the requirements of subdivision (c) of Section 33413 of the Health and Safety Code, the authority shall require that the lower and very low income dwelling units developed pursuant to this subdivision remain available at an affordable housing cost to lower and very low income households for at least 45 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 authority shall include within the report required by Section 62008 information with respect to compliance by the agency with the requirements of this subdivision.
