§ 4-1204. Purposes of Program

   The purposes of the Program are to:

   (1) provide decent, safe, and sanitary rental housing for households of lower income;

   (2) provide financial assistance to political subdivisions or housing authorities to acquire, construct, reconstruct, renovate, or rehabilitate rental housing affordable to households of lower income;

   (3) stimulate the development and ownership of rental housing for households of lower income by political subdivisions, housing authorities, or partnerships that include political subdivisions or housing authorities;

   (4) provide financial assistance to private sector entities to acquire, construct, reconstruct, renovate, or rehabilitate housing units:

      (i) for sale to political subdivisions, housing authorities, or partnerships that include political subdivisions or housing authorities, as affordable rental housing for households of lower income; or

      (ii) for occupancy by households of lower income that include one or more individuals with disabilities or special needs;

   (5) promote affordable housing programs and increased contributions to the production of affordable rental housing by political subdivisions, housing authorities, and the private sector, including for profit and nonprofit entities;

   (6) encourage households of lower income that live in partnership rental housing to contribute actively to the operation or maintenance of the housing or the community;

   (7) finance rental housing that is:

      (i) to be occupied by households of lower income;

      (ii) to be owned by political subdivisions or housing authorities or partnerships that include political subdivisions or housing authorities; and

      (iii) expected to be financially self-sufficient, without further governmental financing for maintenance, renovation, or operating subsidies; and

   (8) encourage the private sector to provide rental housing for households of lower income that include one or more individuals with disabilities or special needs.

HISTORY: An. Code 1957, art. 83B, § 2-1103(b), 2-1104; 2005, ch. 26, § 2; 2006, ch. 117.