§ 50951 Low-Income Housing Requirements

• •At least 30% of homes built or fixed with government loans must be for very low-income families at cheap rents.
• •If the government can't get enough money (subsidies) to do this, they don’t have to follow the 30% rule.
• •No loans will be given for building or fixing homes if it would mess up the government’s ability to use their current money to meet this rule.

A company wants to build 100 new apartments using a government loan.

The company must make sure at least 30 of those apartments (30%) are cheap enough for very low-income families to rent. If the government doesn’t have enough money to help make those 30 apartments cheap, the company might not get the loan at all.