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2012 Maine Revised Statutes
TITLE 30-A: MUNICIPALITIES AND COUNTIES (HEADING: PL 1987, c. 737, Pt. A, @2 (new))
Chapter 202: AFFORDABLE HOUSING PARTNERSHIP
30-A §5032. Use of money


30-A ME Rev Stat § 5032 (2012 through 125th Legis) What's This?

Part 2: MUNICIPALITIES HEADING: PL 1987, C. 737, PT. A, §2 (NEW)

Subpart 8: DEVELOPMENT HEADING: PL 1987, C. 737, PT. A, §2 (NEW)

Subchapter 4: LAND ACQUISITION PROGRAM HEADING: PL 1989, C. 601, PT. B, §4 (NEW)

§5032. Use of money

Money provided to municipalities under this subchapter must be in the form of low-interest loans. Money provided to nonprofit housing corporations may be in the form of grants, low-interest loans or no-interest loans. Funds available under this subchapter must be used to acquire or preserve land for affordable housing for the homeless and lower-income and moderate-income households including mortgageable predevelopment costs. Funds may be used to make minor capital improvements to land acquired under this chapter to facilitate its use for housing. [1991, c. 574, §4 (AMD).]

SECTION HISTORY

1989, c. 601, §B4 (NEW). 1991, c. 574, §4 (AMD).

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