The purpose of the Predevelopment Loan Program is to:
- (1) Provide for financial and technical assistance to local governments, housing authorities, and not-for-profit organizations who will provide for the sponsorship of housing for the target population in the state, such housing to be financed by federal, state, local, or private resources.
- (2) Ensure maximum leverage of federal, state, and local public funds and private resources in the construction and financing of housing for the target population.
- (3) Create a Housing Predevelopment Fund to be used by eligible sponsors of housing.
History.--s. 13, ch. 88-376; s. 2, ch. 93-181; s. 26, ch. 97-167.
Note.--Former s. 420.305.