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HomeHealth and Safety CodeDiv. 24Pt. 1Ch. 8Art. 1§ 33750 Redevelopment Housing Loan Authority

§ 33750 Redevelopment Housing Loan Authority

Health and Safety Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 33750 Redevelopment Housing Loan Authority

Key Takeaways

  • •The law lets special groups (redevelopment agencies) give out long-term, low-interest loans to help build or fix up homes in areas that need improvement.
  • •These loans are meant to help places that are struggling because regular banks won’t give loans there.
  • •The goal is to make neighborhoods better by adding more houses and fixing up old ones.
  • •This is supposed to help cities grow and get stronger economically.

Example

Imagine a neighborhood where many houses are old and falling apart, and banks won’t give loans to fix them up. A group called a redevelopment agency steps in and offers low-interest loans to homeowners or builders.

This helps people fix up their homes or build new ones, making the whole neighborhood nicer and safer. Without these loans, the area might stay run-down and get worse over time.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 33750 Redevelopment Housing Loan Authority

The Legislature finds and declares that it is necessary and essential that redevelopment agencies be authorized to make long-term, low-interest loans through qualified mortgage lenders to finance residential construction in order to encourage investment and upgrade redevelopment project areas and increase the supply of housing. Unless redevelopment agencies intervene to generate mortgage funds and to provide some form of assistance to finance residential construction, many redevelopment areas will stagnate and deteriorate because owners and investors are not able to obtain loans from private sources. The Legislature further finds and declares that financing of rehabilitation, as provided in this chapter, serves an essential public purpose for the economic renewal of our cities. (Amended by Stats. 1981, Ch. 602.)

Last verified: January 23, 2026

Key Terms

redevelopmentmortgageofferportlegislatureinvestmentconstructionassistance

Related Statutes

  • § 33751.5 Low-Income Housing Development
  • § 33752 Urban Redevelopment Financing Rules
  • § 33753 Residential Construction Financing Definitions
  • § 50882 Families Moving To Work Fund
  • § 33751 Urban Housing Construction Financing

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Health and Safety Code. Section 33750.
View Official Source