Affordable housing.

Existing law authorizes the Department of Housing and Community Development to provide technical assistance to groups and persons with various housing needs and to administer various housing loan programs. Existing law authorizes the department to extend the term of existing multifamily housing loans made under specified programs upon the request of any borrower, subject to certain conditions, as provided. This bill would authorize the department to extend the term of an existing department loan, subordinate a department loan to new debt, and authorize an investment of tax credit equity under certain rental housing finance programs, subject to specified conditions. The bill would authorize the department to charge a fee to cover its costs related to extending the term of a loan or for processing the restructuring of a loan. The bill would make changes with regard to existing rent subsidies and rents under existing department housing programs, as specified. The bill would require the department, within available resources, to post on its Internet Web site information regarding household incomes and rents for developments approved for restructuring, as specified. The bill would authorize the department to adopt guidelines that are not subject to the Administrative Procedures Act, as specified.