8.111.503 HMF LOAN ELIGIBLE LOAN ACTIVITIES
(1) The board may make an HMF loan for the following purposes:
(a) matching funds for public or private funds available from other sources for the development of housing for low-income or moderate income households;
(b) bridge financing necessary to make development of housing for low-income or moderate income households feasible;
(c) acquisition of existing housing stock for the purpose of preservation of or conversion to housing for low-income or moderate income households;
(d) preconstruction technical assistance as described in 90-6-134(4), MCA, for housing for low-income and moderate income households in rural areas and small cities and towns;
(e) acquisition of land for housing developments, land banking, and land trusts; and
(f) short-term, site-based housing vouchers for needy individuals.
(2) An HMF loan may not be made that will supplant existing or available funding for eligible activities.
History: 90-6-136, MCA; IMP, 90-6-134, MCA; NEW, 2002 MAR p. 75, Eff. 1/18/02; AMD, 2008 MAR p. 40, Eff. 1/18/08.