2013 Session

Budget Amendments - HB1500 (Member Request)

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Chief Patron: Lingamfelter
Housing Trust Fund

Item 108 #1h

Item 108 #1h

First Year - FY2013 Second Year - FY2014
Commerce And Trade
Housing and Community Development, Department of FY2013 $0 FY2014 $3,000,000 GF

Page 88, line 39, strike "$47,049,112" and insert "$50,049,112".
Page 90, after line 17, insert:
"H. In addition to the amounts provided for the Housing Trust Fund in paragraph G. of this item, $3,000,000 from the general fund in the second year shall be deposited into the Housing Trust Fund for a Foreclosure Rehabilitation Program.  This program is intended to be used to provide grants and/or forgivable loans to stabilize neighborhoods in jurisdictions hardest hit by the foreclosure crisis.  Eligibility for funding for this program is contingent upon the availability of low-cost private or other capital to support the development to leverage the amounts available for this purpose."

(This amendment increases the amounts dedicated to the Housing Trust Fund from $7.0 million to $10.0 million in fiscal year 2014. The additional amounts would be used to support foreclosure rehabilitation grants and/or forgivable loans for the purpose of stabilization of neighborhoods in jurisdictions hardest hit by foreclosure.)