Health and Safety Code - HSC
DIVISION 31. HOUSING AND HOME FINANCE [50000 - 54913]
( Division 31 repealed and added by Stats. 1977, Ch. 610. ) PART 3. CALIFORNIA HOUSING FINANCE AGENCY [50900 - 51532]
( Heading of Part 3 amended (as amended by Stats. 1994, Ch. 94) by Stats. 2000, Ch. 471, Sec. 17.5. ) CHAPTER 4. General Powers [51050 - 51070]
( Chapter 4 added by Stats. 1977, Ch. 610. ) 51054.
The agency may make or undertake commitments to make development loans, construction loans, mortgage loans, and property improvement loans to housing sponsors to finance housing developments, as provided in Chapter 5 (commencing with Section 51100) of this part.
The agency may, in conjunction with a construction loan, set aside a reserve to provide improvement security required under subdivision (c) of Section 66462 and Chapter 5 (commencing with Section 66499) of Division 2 of Title 7 of the Government Code, which shall be in lieu of improvement security otherwise required by such provisions.
(Amended by Stats. 1979, Ch. 1207.)