California Health and Safety Code 33751 – The Legislature further finds and determines that a program to …
The Legislature further finds and determines that a program to provide residential construction financing would accomplish the following:
(a) Facilitate increasing the supply of urban housing and ease the housing shortage that exists in many parts of the state.
Terms Used In California Health and Safety Code 33751
- Financing: means the lending of moneys or any other thing of value for the purpose of facilitating residential construction pursuant to this chapter, including the making of construction loans and mortgage loans to purchasers of newly constructed and newly rehabilitated residences and the making of loans to qualified mortgage lenders, and the making of mortgage loans to purchasers of newly constructed or existing residences located in targeted areas as provided in Section 33760. See California Health and Safety Code 33753
- Residential construction: means the construction of new residences or the rehabilitation and improvement of substandard residences to meet requirements of local codes and the redevelopment plan. See California Health and Safety Code 33753
- State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
(b) Encourage Californians of all social and economic positions to reinhabit urban areas, thereby rendering these areas more socially balanced and economically self-sufficient.
(c) Reduce pressures for suburbanization and thereby mitigate many of the problems caused by urban migration, including inefficient use of scarce energy resources and urban sprawl.
(d) Stimulate urban building and construction activity and thereby increase urban employment and improve the urban tax base.
(Added by Stats. 1975, Ch. 48.)