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4900.0340 OCCUPANCY IN MULTIUNIT DEVELOPMENTS.

Initial occupancy in multiunit developments financed by the agency shall be limited to persons and families of low and moderate income; provided, however, that to the extent necessary to avoid economic loss resulting from inability to achieve full occupancy, and in order to encourage economic integration, a housing sponsor may, with the prior written approval of the commissioner, permit initial occupancy of up to 25 percent of the units in the housing project by persons and families who are not persons and families of low and moderate income.

Preference for occupancy in multiunit developments financed by the agency may not be given to persons and families by virtue of their prior residence in the community in which the development is located; except that the housing sponsor may, with the prior written approval of the commissioner allow preference for persons and families displaced by public action or natural disaster or for previous residents of a rehabilitated multiunit development financed by the agency.

Statutory Authority:

MS s 462A.06

History:

L 1987 c 186 s 15

Published Electronically:

June 11, 2008