§ 15-5-1708 - Purposes and uses of the Arkansas Housing Trust Fund. - Arkansas Statutes

15-5-1708. Purposes and uses of the Arkansas Housing Trust Fund.

(a) Money held in the Arkansas Housing Trust Fund shall be used to provide assistance for eligible activities proposed by eligible applicants, including without limitation grants, loans, loan guarantees, and loan subsidies.

(b) Eligible activities may include without limitation the following:

(1) New construction, reconstruction, or rehabilitation of rental housing or housing designed for owner occupancy;

(2) Rental assistance;

(3) Land acquisition;

(4) Predevelopment costs;

(5) Infrastructure;

(6) Transitional housing;

(7) Down payment assistance;

(8) Housing and foreclosure counseling; and

(9) Technical assistance.

(c) Eligible applicants of assistance from the housing trust fund shall include without limitation:

(1) Local governments;

(2) Public housing authorities, public housing agencies, and public housing facilities boards;

(3) Nonprofit organizations;

(4) Nonprofit housing developers; and

(5) For-profit housing developers.