Notwithstanding any other provisions of this chapter, DSHA is not empowered to finance any housing development undertaken by a housing sponsor pursuant to §§ 4031, 4032 and 4033 of this title, unless prior to the financing of any housing development hereunder DSHA finds:

(1) That there exists a shortage of decent, safe and sanitary housing at rentals or prices which persons and families of low-income or moderate-income can afford within the general housing market area to be served by the proposed housing development;

(2) That private enterprise and investment have been unable, without assistance, to provide the needed decent, safe and sanitary housing at rentals or prices which persons or families of low- and moderate-income can afford or to provide sufficient mortgage financing for residential housing for occupancy by such persons or families;

(3) That the housing sponsor or limited-profit housing sponsor or sponsors undertaking the proposed housing development in this State will supply well-planned, well-designed housing for persons or families of low- and moderate-income and that such sponsors are financially responsible;

(4) That the housing development to be assisted pursuant to this chapter will be of public use and will provide a public benefit;

(5) That the housing development will be undertaken within the authority conferred by this chapter upon DSHA and the housing sponsor or sponsors.

71 Del. Laws, c. 357, § ?6;

Terms Used In Delaware Code Title 31 Sec. 4034

  • Area: means the State. See Delaware Code Title 31 Sec. 4001
  • Authority: means a public body corporate or politic, organized in accordance with Chapter 43 or 45 of this title for a purpose, with the powers and subject to the restrictions set forth in those chapters, including a community exercising the powers and duties of a slum clearance and redevelopment authority; provided however, that "Authority" shall not mean the Delaware State Housing Authority. See Delaware Code Title 31 Sec. 4001
  • DSHA: means the Delaware State Housing Authority created by § 4010 of this title. See Delaware Code Title 31 Sec. 4001
  • Housing development: means living accommodations provided or to be provided pursuant to this chapter for 2 or more families by a housing sponsor. See Delaware Code Title 31 Sec. 4001
  • Housing sponsor: means individuals, public bodies, joint ventures, partnerships, limited partnerships, trusts, firms, associations or other legal entities or any combination thereof, corporations, cooperatives and condominiums, approved by DSHA, as qualified, either to own, construct, acquire, rehabilitate, operate, manage or maintain a housing development whether nonprofit or organized for limited profit and subject to the regulatory powers of DSHA and other terms and conditions set forth in this chapter. See Delaware Code Title 31 Sec. 4001
  • State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
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