Section 51054 Of Chapter 4. General Powers From California Health And Safety Code >> Division 31. >> Part 3. >> Chapter 4.
51054
. The agency may make or undertake commitments to make
development loans, construction loans, mortgage loans, and property
improvement loans to housing sponsors to finance housing
developments, as provided in Chapter 5 (commencing with Section
51100) of this part.
The agency may, in conjunction with a construction loan, set aside
a reserve to provide improvement security required under subdivision
(c) of Section 66462 and Chapter 5 (commencing with Section 66499)
of Division 2 of Title 7 of the Government Code, which shall be in
lieu of improvement security otherwise required by such provisions.