Housing finance.

Existing law establishes the Multifamily Housing Program under the administration of the Department of Housing and Community Development to provide a standardized set of program rules and features applicable to all housing types based on the department's California Housing Rehabilitation Program. Under the Housing and Emergency Shelter Trust Fund Act of 2002, $195,000,000 is to be expended for supportive housing projects under the Multifamily Housing Program. Existing law establishes priority criteria for housing projects and requires that a borrower of program funds include specified data in an annual report to the department. Existing law authorizes the department take specified action to provide and maintain rents that are affordable to the target population, as defined. This bill would modify the definition of the term "target population" and make several changes to the information a borrower may include in his or her annual report. The bill would also impose new requirements with respect to the populations served by the supportive housing program.