(1) The board may make an RLA 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; and

(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.

(2) An RLA loan may not be made that will supplant existing or available funding for eligible activities.