Scope, Purpose, and Applicability

(1) The first phase of the Housing Innovations Fund (HIF) program (HIF I) was created by St. 1987, c. 226 (budget line item 3722-8879), which authorized the Department of Housing and Community Development to use up to $30 million in general obligation bond funds for the creation of Alternative Forms of Housing for Low-income Persons and Families. HIF I was established to provide loans for Eligible Projects sponsored and developed by Nonprofit Corporations. (2) The second phase of the Housing Innovations Fund program (HIF II) was created by St. 1993, c. 494 (budget line item 3722-8899), which authorized the Department of Housing and Community Development to use up to $30 million in general obligation bond funds for the development of Alternative Forms of Housing for Low-income Persons and Families. HIF II was established to provide loans for Eligible Projects developed by Nonprofit Corporations or Limited Equity Cooperative Housing Corporations. (3) The third phase of the Housing Innovations Fund program (HIF III) was created by St. 1998, c. 257 (budget line item 7004-8986), which authorized the Department of Housing and Community Development to use up to $21 million in general obligation bond funds for the creation and retention of Alternative Forms of Housing for Low-income and Very Low-income Persons and Families. HIF III was established to provide loans for Eligible Projects developed by Nonprofit Corporations or Limited Equity Cooperative Housing Corporations. (4) The fourth phase of the Housing Innovations Fund program (HIF IV) was created by St. 2002, c. 244 (budget line item 7004-7013), which authorized the Department of Housing and Community Development to use up to $35 million in general obligation bond funds for the creation and retention of Alternative Forms of Housing for Low-income and Extremely Low- income Persons and Families. HIF IV was established to provide loans for Eligible Projects developed by one or more Nonprofit Corporations or Limited Equity Cooperative Housing Corporations. (5) The fifth phase of the Housing Innovations Fund program was created by St. 2004, c. 290 (budget line item 7004-7013) (the HIF V Legislation), which authorized the Department of Housing and Community Development to use up to $50 million in general obligation bond funds for the program established pursuant to the HIF IV Legislation. (6) The sixth phase of the Housing Innovations Fund program was created by St. 2008, c. 119, § 2 (budget line item 7004-0036) (the HIF VI Legislation) and § 6, which also established the Housing Innovations Trust Fund as M.G.L. c. 121E. M.G.L. c. 121E was established to provide financial assistance for Eligible Projects developed by one or more Nonprofit Corporations or Limited Equity Cooperative Housing Corporations. Budget line item 7004-0036 authorized the Department of Housing and Community Development to use up to $75 million in general obligation bond funds for the creation and retention of Alternative Forms of Housing for Low- income and Extremely Low-income Persons and Families. (7) The seventh phase of the Housing Innovations Fund program was created by St. 2018, c. 99, § 2 (budget line item 7004-0056) (the HIF VII Legislation), which authorized the Department of Housing and Community Development to use up to $100,000,000 in general obligation bond funds for the creation and retention of Alternative Forms of Housing for Low-income and Extremely Low-income Persons and Families. (Mass. Register #1407 12/27/19) (8) M.G.L. c. 121E established the Housing Innovations Trust Fund. References in 760 CMR 23.00 to funding under, for, or pursuant to M.G.L. c. 121E shall mean funding for the program described in M.G.L. c. 121E authorized by the HIF VI Legislation, HIF VII Legislation, or any other funding for such program authorized by the Legislature. (9) In the event of any actual or potential inconsistency between or among the provisions of 760 CMR 23.00, the applicable HIF Legislation or the HIF Program Guidelines, or the loan or other documents evidencing a loan or other form of financial assistance provided under the HIF program, such provisions shall be interpreted, to the extent reasonably possible, so as to reconcile any such inconsistencies. If such provisions cannot reasonably be reconciled, the provisions of the applicable HIF Legislation, including M.G.L. c. 121E, 760 CMR 23.00, the HIF Program Guidelines, and such loan or other financing documents, in the foregoing order of priority, shall control.