Backward    Forward     Overview    Table of Contents

HOUSING FINANCE AGENCY 


                         Adjusted      Executive    Legislative                       
                           Approp.        Request        Approp.
                           2000-01        2001-02        2001-02    Change


AID TO LOCALITIES
  General Fund          1,700,000         700,000        700,000         0 
  Total for 
  AID TO LOCALITIES:    1,700,000         700,000        700,000         0

Agency Mission

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.

Year-to-Year Change

The Executive requests appropriations totaling $700,000 for State Fiscal Year (SFY) 2001-02, a decrease of $1,000,000 or 58.82 percent from SFY 2000-01 levels.

Legislative Proposals

The Assembly directs HFA to establish a fiscal year of April 1 to March 31. On or before March 15th, the Board of Directors will determine the balances existing in all accounts within HFA. No later than May 15th, HFA shall provide a comprehensive annual report to the Executive and to the Legislature concerning all activities.