New construction is added to the low- and moderate-income requirement
What the document says“Section 105(c)(3) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(c)(3)) is amended by striking ``or rehabilitation'' and inserting ``, rehabilitation, or new construction''.”
The section amends section 105(c)(3) of the Housing and Community Development Act of 1974 so that the phrase covering rehabilitation now also covers new construction.
What the document actually says“Section 105(c)(3) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(c)(3)) is amended by striking ``or rehabilitation'' and inserting ``, rehabilitation, or new construction''.”
Two words come out of an older rule. Three words go in. The new words add new building to what the rule covers.
That older rule is about who the housing must serve. It sets a test tied to income. The change makes the test reach new homes too.
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