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.