Housing Opportunity Bond Financing - Single Family

Moneys held in the program fund will be used for low interest loans to developers to finance in part the acquisition, construction or renovation of housing. These funds may be used in conjunction with conventional financing, bond financing or other private/public financing to construct and/or rehabilitate residential housing and finance predevelopment and site development costs. No HOB loan may be made or unconditionally committed to be made unless the developer has evidence of a firm commitment letter from funding sources detailing the terms and conditions for the balance of the total costs of the housing development.