§ 1106-b. Low income turnkey/enhanced housing trust fund program
established. There is hereby established within the housing trust fund
corporation a low income turnkey/enhanced housing trust fund program.
Within the limit of funds available for this purpose in the
turnkey/enhanced housing account, the corporation is hereby authorized
to enter into contracts to provide grants or loans to eligible
applicants for all or a portion of turnkey/enhanced rental project costs
to construct or rehabilitate turnkey/enhanced rental projects subject to
the terms and conditions of this article. Upon completion of
construction or rehabilitation of a turnkey/enhanced rental project, an
eligible applicant may, where appropriate, transfer such project to an
eligible owner.