Adjusted         Executive                       
                                 Appropriation           Request                       Percent 
                                       2000-01           2001-02            Change      Change 

AGENCY SUMMARY
  General Fund                       1,700,000           700,000        (1,000,000)    -58.82%
  Total for AGENCY SUMMARY:          1,700,000           700,000        (1,000,000)    -58.82%


AID TO LOCALITIES
  General Fund                       1,700,000           700,000        (1,000,000)    -58.82%
  Total for AID TO LOCALITIES:       1,700,000           700,000        (1,000,000)    -58.82%

Capital Grant/Low Rent Lease
  General Fund                         700,000           700,000                 0       0.00%
  Total for Program:                   700,000           700,000                 0       0.00%

Small Owners Assistance Program
  General Fund                       1,000,000                 0        (1,000,000)   -100.00%
  Total for Program:                 1,000,000                 0        (1,000,000)   -100.00%

                                                                                                                                                

                           ALL FUNDS PERSONNEL
                          BUDGETED FILL LEVELS
                                                                                                                                                
                            Current  Requested
Program                     2000-01    2001-02    Change
                                                                                                                                                
                                                                                                                                                 

                          BUDGET HIGHLIGHTS
                   (Executive Budget: pp. 221-222)

The Housing Finance Agency (HFA) is a public benefit corporation that finances 
low- and moderate-income rental housing.  HFA issues taxable and tax-exempt 
bonds to provide mortgage loans to developers of mixed-income and affordable 
rental projects.  HFA also plays a role in administering housing programs 
supported by State and Federal appropriations.

The Agency is included in the Transportation, Economic Development and 
Environmental Conservation Budget Bill.

Aid to Localities

The Executive recommends an appropriation of $700,000, a decrease of $1,000,000 
from State Fiscal Year (SFY)
2000-01.  The $700,000 funds the Capital Grant - Low Rent Lease Subsidy Program 
and will provide rental subsidies for approximately 230 low-to-moderate income 
individuals.

The $1,000,000 decrease can be attributed to the elimination of the Small Owners 
Assistance Program, a legislative add.

Article VII Proposals

The Executive proposes that HFA pay $1,000,000 to the Federal Small Cities 
Community Development Program account to support administrative costs.