Housing: multifamily affordable housing programs

The law directs major state housing-finance entities to make modular and other factory-built projects eligible and workable under key affordable-housing programs. It also addresses the upfront deposits needed before factory production begins.

What the law does ​

• Requires agencies to review and revise guidelines and regulations as needed to facilitate factory-built housing.
• Clarifies that factory-built housing projects are eligible uses of funding in specified multifamily affordable-housing programs.
• Requires agencies that directly finance projects to allow sufficient early deposits for materials and factory production.
• Allows agencies to require bonds, guarantees, letters of credit, or other security for early-deposit funding.

Who it affects ​

• Developers and sponsors of factory-built multifamily affordable-housing projects.
• Factories and general contractors producing or building factory-built housing.
• Applicants for funding through specified affordable housing, farmworker housing, veteran housing, infill, and transit-oriented development programs.