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RSA 204-C:20 · Findings

Title
XVII: HOUSING AND REDEVELOPMENT
Chapter
204-C · HOUSING FINANCE AUTHORITY
Status
current
Official source linked
Yes
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204-C:20 Findings. – Prior to making any mortgage loan or any loan to a lending institution, or prior to purchasing any loan or mortgage loan under this chapter, the authority shall find with respect to each such commitment:

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I.

That, with respect to rental multi-family housing, eligible elderly and low income persons and families can afford the adjusted rental or carrying charges set for a reasonable number, as determined by the authority, but in no event fewer than 1/8 of the units in the housing, to be financed pursuant to such commitment without the expenditure of more than 30 percent of their annual income for basic shelter cost, including the additional cost, if any, of heat, hot water, and other utilities, except telephone; provided, however, that, if necessary to make the project financially feasible, such percentage of annual income may be increased to 32 percent; and provided further that, if, in order to meet federal requirements or to obtain federal assistance, a different percentage of annual income shall be required, then such percentage of annual income shall be increased, or based on the federal requirement, if applicable;

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II.

That with respect to housing other than rental multi-family housing, that the general housing market area, as determined by the authority, to be served by such housing does or shall by reason of the housing to be provided include housing for eligible elderly or low income persons and families, as well as eligible persons and families;

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III.

That there exists a shortage of decent, safe and sanitary dwelling accommodations at rents or carrying charges which eligible persons and families including eligible elderly and low income persons and families can afford within the general housing market area, as determined by the authority, to be served by such housing;

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IV.

That without the assistance contemplated by such commitment, private enterprise cannot supply such housing in such general housing market area at rentals or carrying charges which eligible persons and families can afford; and at which eligible elderly and low income persons and families can afford without the expenditure of more than 30 percent of their income for basic shelter cost, including the additional cost, if any, of heat, hot water, and other utilities, except telephone;

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V.

That as to any loan to a lending institution or purchase of a loan or mortgage loan, an inadequate supply of funds for housing loans or mortgage loans exists in normal banking channels within the state and available to the general housing area;

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VI.

That such housing either is itself designed to house eligible elderly and low income persons and families and eligible persons and families of varied economic means or shall not create or contribute to an undue concentration of low income families in one neighborhood;

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VII.

That the housing to be financed by the authority pursuant to such commitment shall increase the supply of or promote the quality of decent, safe and sanitary housing for eligible persons and families, including a reasonable number, as determined by the authority, of eligible elderly and low income persons and families and shall be of public use and provide a public benefit;

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VIII.

That such housing shall be undertaken, and the eligible mortgagor, eligible person and family or lending institution regulated, pursuant to the rules of the authority and subject to this chapter; and

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IX.

That the authority's estimate of its revenues from the financing of such housing, together with all subsidies, grants or other financial assistance from governmental agencies or other sources to be received in connection with such housing, shall equal in the aggregate the amount estimated by the authority as necessary for debt service on its bonds and notes to be issued for the purpose of financing such housing. Source. 1981, 466:2. 1983, 468:10. 1988, 240:6, eff. July 1, 1988. 2014, 323:4, eff. Sept. 30, 2014.

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Source note

Source. 1981, 466:2. 1983, 468:10. 1988, 240:6, eff. July 1, 1988. 2014, 323:4, eff. Sept. 30, 2014.

Source history

  • 1981, 466:2
  • 1983, 468:10
  • 1988, 240:6, eff. July 1, 1988
  • 2014, 323:4, eff. Sept. 30, 2014

Related materials

Bill relationships

  • 2026 HB1405 amend

    arantee program. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Subdivision; Affordable Housing Guaranteed Loan Program. Amend RSA 204-C by inserting after section 92 the following new subdivision: Affordable Housing Guaranteed Loan Program 204-C:93 Definitions. In this subdivision: I. "Affordable housing" means: (a) Housing whose combined re

  • 2026 HB1405-FN amend

    arantee program. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Subdivision; Affordable Housing Guaranteed Loan Program. Amend RSA 204-C by inserting after section 92 the following new subdivision: Affordable Housing Guaranteed Loan Program 204-C:93 Definitions. In this subdivision: I. "Affordable housing" means: (a) Housing whose combined re

  • 2026 HB1661 amend · effective 2028-07-01

    Enacted by the Senate and House of Representatives in General Court convened: 1 New Section; Housing Finance Authority; Affordable Housing Fund; Annual Appropriation. Amend RSA 204-C by inserting after section 57-a the following new section: 204-C:57-b Annual Appropriation. There is hereby appropriated annually the sum of $1,500,000 to the housing finance authority established in RSA 204-C, for

  • 2026 HB1661-FN amend · effective 2028-07-01

    Enacted by the Senate and House of Representatives in General Court convened: 1 New Section; Housing Finance Authority; Affordable Housing Fund; Annual Appropriation. Amend RSA 204-C by inserting after section 57-a the following new section: 204-C:57-b Annual Appropriation. There is hereby appropriated annually the sum of $1,500,000 to the housing finance authority established in RSA 204-C, for

  • 2026 HB1662 amend

    ouse of Representatives in General Court convened: 1 New Section; Housing and Development; Housing Finance Authority; Low-Cost Financing for Developers and Homeowners. Amend RSA 204-C by inserting after section 92 the following new section: 204-C:93 Low-Cost Financing for Developers and Homeowners. Notwithstanding any provision of law to the contrary, the housing finance authority (HFA) shall of

  • 2026 HB1662-FN amend

    ouse of Representatives in General Court convened: 1 New Section; Housing and Development; Housing Finance Authority; Low-Cost Financing for Developers and Homeowners. Amend RSA 204-C by inserting after section 92 the following new section: 204-C:93 Low-Cost Financing for Developers and Homeowners. Notwithstanding any provision of law to the contrary, the housing finance authority (HFA) shall of

  • 2026 HB1713 amend · effective 2026-07-01

    s. Amend RSA 204-D:1 to read as follows: 204-D:1 Definitions. As used in this chapter: I. "Authority" means the New Hampshire housing finance authority established under RSA 204-C. II. "Committee" means the long range capital planning and utilization committee established under RSA 17-M. III. “Eligible housing” means single-family housing, multi-family housing, manufactured housing parks or

  • 2026 HB604 amend · effective 2025-07-01

    accessory dwelling units. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Section; Loan Forgiveness Program Established. Amend RSA 204-C by inserting after section 70 the following new section: 204-C:64-a Loan Forgiveness Program. I. There is hereby established a conditional loan program to be administered by the New Hampshire housing finance authori

  • 2026 HB604-FN amend

    accessory dwelling units. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Section; Loan Forgiveness Program Established. Amend RSA 204-C by inserting after section 70 the following new section: 204-C:64-a Loan Forgiveness Program. I. There is hereby established a conditional loan program to be administered by the New Hampshire housing finance authori