CHAPTER 14.5. Building Equity and Growth in Neighborhoods Program
Chapter 14.5 added by Stats. 2002, Ch. 724, Sec. 2.
§§ 50860–50866 · 8 sections
- § 50860 (a) The Building Equity and Growth in Neighborhoods (BEGIN) Program and the Building Equity and Growth in Neighborhoods (BEGIN) Fund are hereby created. (b)…
- § 50861 The department shall issue a notice of funding availability to all cities, counties, or cities and counties specifying when funds are available for the BEGIN…
- § 50862 A city, county, or city and county that receives a grant from the BEGIN Fund shall use the proceeds from the grant for downpayment assistance to a prospective…
- § 50862.5 Downpayment assistance provided pursuant to this chapter shall be in the form of a second mortgage loan. The maximum amount of the loan shall be set in the…
- § 50863 Grants shall only be made to a qualifying city, county, or city and county that has demonstrated that it has provided incentives or reduced or removed…
- § 50864 The department shall prioritize and quantify the criteria it establishes pursuant to Section 50863 by assigning points to each of the criteria. Applications of…
- § 50865 The department may administer the BEGIN Program through guidelines that shall not be subject to the requirements of Chapter 3.5 (commencing with Section 11340)…
- § 50866 No more than 5 percent of the funds deposited in the BEGIN Fund may be used to pay the costs of administration of this chapter.