Scope, Purpose, and Applicability

(1) The Community-based Housing loan program (CBH Program) was created by St. 2004, c. 290, § 2E (budget line item 4000-8201) (CBH 1 Legislation), as modified and continued by St. 2008, c. 119, § 2 (budget line item 7004-0030) and § 11 ( collectively CBH 2 Legislation), St. 2013, c. 129, § 2 (budget line item 7004-0041) and § 19 (CBH 3 Legislation), and St. 2018, c. 99, § 2 (budget line item 7004-0051) and § 30 (CBH 4 Legislation), which authorized the Department of Housing and Community Development to use certain general obligation bond funds for loans supporting the development and redevelopment of Community-based Housing, or if funded under the CBH 3 Legislation or CBH 4 Legislation, Community-based Housing or Supportive Housing, for Persons Certified Eligible (PCEs) who are not eligible for housing developed pursuant to the Facilities Consolidation Fund (FCF) program authorized by St. 2004, c. 290, § 2E (budget line item 4000-8200) (FCF 3 Legislation), as modified and continued by St. 2008, c. 119, § 2 (budget line item 7004-0029) and § 11 (collectively FCF 4 Legislation), and St. 2013, c. 192, § 2 (budget line item 7004-0040) (FCF 5 Legislation), and St. 2018, c. 99, § 2 (budget line item 7004-0050) and § 30 (FCF 6 Legislation). The CBH Program provides loans for Eligible Projects developed by one or more Nonprofit Corporations, organizations in which one or more Nonprofit Corporations have a controlling financial or managerial interest, or, if funded pursuant to the CBH 2, CBH 3 or CBH 4 Legislation, For-profit Organizations; provided that preference for subcontracts shall be given to Nonprofit Corporations. In the event of any actual or potential inconsistency between or among the provisions of 760 CMR 60.00, the applicable CBH Legislation, the CBH Guidelines, or the loan documents evidencing a loan made under the CBH 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 CBH Legislation, 760 CMR 60.00, the CBH Guidelines and such loan documents, in the foregoing order of priority, shall control.