Section 51320 Of Chapter 6.5. Manufactured Housing From California Health And Safety Code >> Division 31. >> Part 3. >> Chapter 6.5.
51320
. The agency may make or purchase loans for the following
purposes:
(a) To finance the acquisition, construction, or development of
mobilehome parks that meet either of the following criteria:
(1) Are cooperatively owned by persons and families of low and
moderate income.
(2) Consist of lots that will be purchased or rented primarily by
persons and families of low and moderate income. However, if
subsidies are available, the costs of renting spaces and making
mortgage payments on manufactured housing shall be affordable to
those persons of low income residing within the park. In the event of
a mobilehome park owned by a nonprofit corporation which will own
the lots and the mobilehomes, the loans may include financing of park
acquisition, construction, or development and manufactured housing
acquisition.
(b) To finance the purchase of manufactured housing to be placed
in a mobilehome park which is financed pursuant to subdivision (a).
(c) For the purposes of this chapter, "loan" shall include
lease-purchase financing.