Eligible Projects/Uses

A CBH Loan can only be made for a Residential Housing Development that is a Financially Feasible Project and that: (1) is developed to be owned and operated by one or more Non-profit Corporations (or an entity or entities in which one or more Nonprofit Corporations have a controlling financial or managerial interest, as approved by DHCD), a Single-purpose Owner Entity, a For-profit Organization, or a joint venture partnership with a for-profit developer and one or more of the foregoing, provided that preference in awarding subcontracts shall be given to Nonprofit Corporations; in accordance with the EOHHS Services Plan, provides Community-based Housing for PCEs; involves the Creation of Housing, the Preservation of Housing or the refinancing of an existing CBH Loan if permitted under 760 CMR 60.04(4); (4) as required by the CBH Legislation, will be subject to a Land Use Restriction for the benefit of DHCD and any other appropriate state housing and service agencies for loans granted under CBH 1 and 2; for the benefit of DHCD, EOHHS, MRC and any other appropriate state housing and service agencies for loans granted under CBH 3; and for the benefit of DHCD for loans granted under CBH 4, running with the land on which the Project is located and duly registered/filed, requiring that the Project shall be used for the purpose of providing Community-based Housing for PCEs and reserving all the CBH Units in the Project for occupancy by Low-income Persons or Families, which Land Use Restriction shall be released only in accordance with the provisions of the CBH Legislation, 760 CMR 60.00 and the CBH Guidelines; and complies, or upon completion will comply, with the CBH Legislation and all other applicable federal, state or local requirements, including the Americans with Disabilities Act of 1990, M.G.L. c. 79A, and 105 CMR 410.00: Minimum Standards of Fitness for Human Habitation State Sanitary Code: Chapter II.