| Summary |
Under current law, the division of housing (division) within the
department of local affairs must submit an annual public report on the
funding of affordable housing preservation and production (public
report). The bill requires the division to add to the public report
information on applications for affordable housing programs that the
division administers, including the number of applications approved,
denied, and pending, the amount of money awarded from approved
applications, and the amount of money applied for but not awarded from
denied applications. The bill also requires the division to add to the public
report information regarding money in the housing development grant
fund, including amounts in the fund and the use of the money in the
preceding year.
The bill also establishes procedures and timelines for the division
to follow for affordable housing programs administered by the division.
The bill requires that the division accept applications once a month or on
a rolling basis and requires that the division review applications and issue
any requests for additional information, forms, or questions to applicants
within 10 calendar days of an application period closing. The division
must either issue final decisions on applications or submit applications to
the board of housing for final decision within 45 days following the
submission of completed applications. If applications are submitted to the
state housing board, the state housing board must make a final decision
on an application within 15 days of receiving the application.
After a final decision approving an application, the division shall
issue an award letter that includes information on the timeline for issuing
money to the applicant, any terms for a loan or grant period, and any
conditions that must be met before a contract in connection with the
approval is executed. The division shall also provide a draft contract to
the approved applicant within 30 days of the application being approved.
Within 90 days of the division receiving a substantially complete
post-award due diligence package from an approved applicant, the
division shall execute any required contracts for the affordable housing
program and send it to the approved applicant within 10 days of
execution.
The bill also amends existing grant, loan, or other affordable
housing programs administered by the division to require the application
process to be followed for any applications submitted under these
programs and requires any programs that have adopted policies,
procedures, or guidelines for the application process to be amended if
they are inconsistent with the application process established by the bill.
Under current law, a local government or tribal government
desiring to receive funding from the statewide affordable housing fund or
desiring to make affordable housing projects within its territorial
boundaries eligible for funding from the statewide affordable housing
fund must establish a baseline number of affordable housing units within
its territorial boundaries every 3 years, beginning in 2024, and commit to
increasing affordable housing units by 3% each year over the baseline
number within that 3-year period (affordable housing unit requirements).
The bill allows a local government or tribal government to donate
land to a community land trust or a nonprofit affordable homeownership
developer for development as affordable homeownership property and
receive a credit for the purposes of calculating whether the local
government or the tribal government has met the affordable housing unit
requirements for the year in which the land is donated. The credit is in the
amount of one and one-half units per unit constructed on the donated land
and is claimed when the building permits for the project have been
approved by the applicable building authority. Additionally, a school
district that donates land in the same manner may assign its credit to the
local government or tribal government.
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