Missouri Statute | Act | Code |Public Health And Welfare| US Code - US Statute

As used in sections 215.010 to 215.250 unless the context
otherwise requires:

(1) "Approved mortgagor" shall mean:

(a) Any limited-dividend corporation, nonprofit corporation, public
housing corporation, public agency, or any combination thereof, formed in
accordance with the provisions of this chapter and approved by the
commission;

(b) Low and moderate income persons and families purchasing single family
dwellings under criteria set out by the commission;

(c) Persons or families obtaining weatherization loans under criteria set
out by the commission; or

(d) Individuals, partnerships or corporations with respect to loans made
by the commission for the acquisition, construction or rehabilitation of
residential housing which meet criteria established by the commission;

(2) "Commission" means the state housing development commission created
by sections 215.010 to 215.250;

(3) "Commitment in principle", a commitment made prior to submission of a
final application. Such type of commitment shall not have a priority
position over other commitments;

(4) "Development costs" means the costs approved by the commission as
appropriate expenditures which may be incurred by sponsors of residential
housing, within this state, and may include but not be limited to:

(a) Payments for options to purchase properties on the proposed
residential housing site, deposits on contracts of purchase, or, with
prior approval of the commission, payments for the purchase of such
properties;

(b) Legal and organizational expenses, including payments of attorneys'
fees, project manager and clerical staff salaries, office rent and other
incidental expenses;

(c) Payment of fees for preliminary feasibility studies, advances for
consultant, planning, engineering and architectural work;

(d) Expenses for surveys as to need and market analyses;

(e) Necessary application and other fees to federal, state and local
government agencies;

(f) Such other expenses incurred by the approved mortgagor as the
commission may deem appropriate to effectuate the purposes of sections
215.010 to 215.250;

(5) "Land development" means the process of acquiring land for
residential housing construction, and of making, installing, or
constructing nonresidential housing improvements, including waterlines
and water supply installations, sewerlines and sewage disposal
installations, steam, gas, and electric lines and installations,
telephone and other communications lines and installations, roads,
streets, curbs, gutters, sidewalks, whether on or off the site, which the
commission deems necessary or desirable to prepare such land for
residential housing construction within this state;

(6) "Limited-dividend corporation" means a corporation limited as to its
dividends and earnings and organized pursuant to the laws of Missouri;

(7) "Low income or moderate income persons and families" means persons or
families who are in low or moderate income groups and who cannot afford
to pay enough to cause private enterprise in their community to build a
sufficient supply of adequate, safe and sanitary residential housing;

(8) Wherever the word "mortgage" appears in sections 215.010 to 215.250
it shall be deemed to include deed of trust;

(9) "Nonprofit corporation" means a pro forma decree corporation, or a
nonprofit corporation incorporated pursuant to the provisions of the
general not-for-profit corporation law of Missouri;

(10) "Project cost" means the sum total of all reasonable or necessary
costs incurred by an approved mortgagor for carrying out all works and
undertakings for the completion of a development and approved by the
commission. These shall include but shall not necessarily be limited to
all of the following costs: Studies and surveys; plans, specifications,
architectural and engineering services; legal, organizational, marketing
consultant or other special services; financing, land or building
acquisition, demolition, construction, equipment and site development of
new and rehabilitated buildings; movement of existing buildings to other
sites; rehabilitation, reconstruction, repair or remodeling of existing
buildings; carrying charges during construction; the cost of placement of
tenants or occupants and relocation services in connection with a
development; and, to the extent not already included herein, all
development costs;

(11) "Residential housing" or "development" means a specific facility,
work or improvement within this state, undertaken primarily to provide
dwelling accommodations for low income or moderate income persons,
including the acquisition, construction or rehabilitation of land,
buildings and improvements thereto, and including such social, medical,
recreational, educational, nursing, commercial, communal, dining,
training, rehabilitation, therapeutic or other nonhousing facilities and
services as may be incidental or appurtenant thereto, or as the
commission may deem appropriate to effectuate the purposes of sections
215.010 to 215.250 for the low income and moderate income persons
intended hereby to be assisted;

(12) "Weatherization" means the retrofitting which is identified by an
energy audit and meets standards as established by the Missouri housing
development commission in consultation with the department of natural
resources for single or multifamily dwelling and includes one or more of
the following:

(a) Insulation of walls, ceiling, floors, pipes or water heaters;

(b) Storm or insulated doors and windows;

(c) Caulking and weatherstripping;

(d) Higher efficiency replacement space heating, water heating, air
conditioning and ventilation systems;

(e) Installation of solar collectors for heating, cooling and hot water,
including associated piping, ductwork, pumps and on-site preparations
costs; and

(f) Any other conservation measure or renewable resource system which the
commission determines to be eligible as long as such measures or systems
are in strict conformance with the purposes of this section. (L. 1969
H.B. 130 § 1, A.L. 1974 H.B. 1190, A.L. 1982 H.B. 1501, A.L. 1985 H.B.
484)

1. There is hereby created and established as a governmental
instrumentality of the state of Missouri the "Missouri Housing
Development Commission" which shall constitute a body corporate and
politic.

2. The commission shall consist of the governor, lieutenant governor, the
state treasurer, the state attorney general, and six members to be
selected by the governor, with the advice and consent of the senate. The
persons to be selected by the governor shall be individuals knowledgeable
in the areas of housing, finance or construction. Not more than four of
the members appointed by the governor shall be from the same political
party. The members of the commission appointed by the governor shall
serve the following terms: Two shall serve two years, two shall serve
three years, and two shall serve four years, respectively. Thereafter,
each appointment shall be for a term of four years. If for any reason a
vacancy occurs, the governor, with the advice and consent of the senate,
shall appoint a new member to fill the unexpired term. Members are
eligible for reappointment.

3. Six members of the commission shall constitute a quorum. No vacancy in
the membership of the commission shall impair the right of a quorum to
exercise all the rights and perform all the duties of the commission. No
action shall be taken by the commission except upon the affirmative vote
of at least six of the members of the commission.

4. Each member of the commission appointed by the governor is entitled to
compensation of fifty dollars per diem plus his reasonable and necessary
expenses actually incurred in discharging his duties under sections
215.010 to 215.250. (L. 1969 H.B. 130 §§ 2 to 5, A.L. 1992 S.B. 676
Adopted by referendum, Proposition C, November 3, 1992)

Effective 11-3-92

1. The commission is hereby granted, has and may exercise all
powers necessary or appropriate to carry out and effectuate its purpose,
including but not limited to the following:

(1) To make, purchase or participate in the purchase of uninsured,
partially insured or fully insured loans, including mortgages insured or
otherwise guaranteed by the federal government, or mortgages insured or
otherwise guaranteed by other insurers of mortgages to approved
mortgagors to finance the building, rehabilitation or purchase of
residential housing designed and planned to be available for rental or
sale to low-income or moderate-income persons or families, as well as to
finance the building, rehabilitation or purchase of residential housing
in distressed communities as defined in section 135.530, RSMo, planned to
be available for rental or sale to persons or families of any income
level, or which will be occupied and owned by low-income or
moderate-income persons, persons of any income level in distressed
communities or families upon such terms as designated in sections
215.010, 215.030, 215.060, 215.070, 215.090 and 215.160; or to purchase
or participate in the purchase of any other securities which are secured,
directly or indirectly, by any such loan;

(2) Insure any loan, the funds of which are to be used for the purposes
of sections 215.010 to 215.250 and the borrower of which agrees to the
restrictions placed on such projects by the commission;

(3) To make or participate in the making of uninsured or federally
insured construction loans to approve mortgagors of residential housing
for occupancy by persons and families of low to moderate income or
occupancy by persons and families of any income level in distressed
communities as defined in section 135.530, RSMo. Such loans shall be made
only upon determination by the commission that construction loans are not
otherwise available, wholly or in part, from private lenders upon
reasonably equivalent terms and conditions. No commitment for a loan,
except a "commitment in principle", shall be made unless all plans for
development have been completed and submitted to the commission;

(4) To make temporary loans, with or without interest, but with such
security for repayment as the commission deems reasonably necessary and
practicable, to defray development costs to approved mortgagors of
residential housing for occupancy by persons and families of low and
moderate income;

(5) Adopt bylaws for the regulation of its affairs and the conduct of its
business and define, from time to time, the terms "low-income" and
"moderate-income" so as to best carry out the purposes of sections
215.010 to 215.250 for the people intended hereby to be assisted. The
definition may vary from one part of the state to another depending on
economic factors in each section;

(6) To accept appropriations, gifts, grants, bequests, and devises and to
utilize or dispose of the same to carry out its purpose;

(7) To make and execute contracts, releases, compromises, and other
instruments necessary or convenient for the exercise of its powers, or to
carry out its purpose;

(8) To collect reasonable fees and charges in connection with making and
servicing its loans, notes, bonds, obligations, commitments, and other
evidences of indebtedness, and in connection with providing technical,
consultative and project assistant services. Such fees and charges shall
be limited to the amounts required to pay the costs of the commission,
including operating and administrative expenses, and reasonable
allowances for losses which may be incurred;

(9) To invest any funds not required for immediate disbursement in
obligations of the state of Missouri or of the United States government
or any instrumentality thereof, the principal and interest of which are
guaranteed by the state of Missouri, or the United States government or
any instrumentality thereof, or bank certificates of deposit, or, in the
case of funds pledged to note or bond issues of the commission, in such
investments as the commission may determine; provided that on the date of
issuance such note or bond issues are rated by Standard & Poor's
Corporation not lower than "AA" in the case of long-term obligations or
"SP-1+" in the case of short-term obligations or rated by Moody's
Investors Service, Inc., not lower than "Aa" in the case of long-term
obligations or Moody's Investment Grade I in the case of short-term
obligations, or the equivalent ratings by such rating agencies in the
event the ratings described in this section are changed;

(10) To sue and be sued;

(11) To have a seal and alter the same at will;

(12) To make, and from time to time, amend and repeal bylaws, rules and
regulations not inconsistent with the provisions of sections 215.010 to
215.250;

(13) To acquire, hold and dispose of personal property for its purposes;

(14) To enter into agreements or other transactions with any federal or
state agency, any person and any domestic or foreign partnership,
corporation, association or organization;

(15) To acquire real property, or an interest therein, in its own name,
to sell, transfer and convey any such property to a buyer, to lease such
property to a tenant to manage and operate such property, to enter into
management contracts with respect to such property and to mortgage such
property;

(16) To sell, at public or private sale, any mortgage, negotiable
instrument or obligation securing a construction, land development,
mortgage or temporary loan;

(17) To procure insurance against any loss in connection with its
property in such amounts, and from such insurers, as may be necessary or
desirable;

(18) To consent, whenever it deems it necessary or desirable in the
fulfillment of its purpose, to the modification of the rate of interest,
time of payment or any installment of principal or interest, or any other
terms, of any mortgage loan, mortgage loan commitment, construction loan,
temporary loan, contract or agreement of any kind to which the commission
is a party;

(19) To make and publish rules and regulations respecting its lending,
insurance of loans, federally insured construction lending and temporary
lending to defray development costs and any such other rules and
regulations as are necessary to effectuate its purpose;

(20) To borrow money to carry out and effectuate its purpose and to issue
its negotiable bonds or notes as evidence of any such borrowing in such
principal amounts and upon such terms as shall be necessary to provide
sufficient funds for achieving its purpose, and to secure such bonds or
notes by the pledge of revenues, mortgages or notes of others;

(21) To issue renewal notes, to issue bonds to pay notes, and whenever it
deems refunding expedient, to refund any bonds by the issuance of new
bonds, whether the bonds to be refunded have or have not matured;

(22) To apply the proceeds from the sale of renewal notes or refunding
bonds to the purchase, redemption, or payment of the notes or bonds to be
refunded;

(23) To provide technical services to assist in the planning, processing,
design, construction or rehabilitation of residential housing for
occupancy by persons and families of low and moderate income, persons and
families in distressed communities as defined in section 135.530, RSMo,
of any income level or land development for residential housing for
occupancy by persons and families of low and moderate income or persons
and families in distressed communities of any income level;

(24) To provide consultative project assistance services for residential
housing for occupancy by persons and families of low and moderate income
or persons and families of any income level in distressed communities as
defined in section 135.530, RSMo, and for land development for
residential housing for occupancy by persons and families of low and
moderate income, or for persons and families of any income level in
distressed communities and for the residents thereof with respect to
management, training and social services;

(25) To promote research and development in scientific methods of
constructing low cost residential housing of high durability; and

(26) To make, purchase or participate in the purchase of uninsured,
partially insured or fully insured loans and home improvement loans to
sponsors to finance the weatherization of single and multifamily
dwellings, and shall issue its negotiable bonds or notes for such purpose.

2. Any rule or portion of a rule, as that term is defined in section
536.010, RSMo, that is promulgated under the authority of this chapter,
shall become effective only if the agency has fully complied with all of
the requirements of chapter 536, RSMo, including but not limited to,
section 536.028, RSMo, if applicable, after January 1, 1999. All
rulemaking authority delegated prior to January 1, 1999, is of no force
and effect and repealed as of January 1, 1999, however nothing in this
act* shall be interpreted to repeal or affect the validity of any rule
adopted and promulgated prior to January 1, 1999. If the provisions of
section 536.028, RSMo, apply, the provisions of this section are
nonseverable and if any of the powers vested with the general assembly
pursuant to section 536.028, RSMo, to review, to delay the effective
date, or to disapprove and annul a rule or portion of a rule are held
unconstitutional or invalid, the purported grant of rulemaking authority
and any rule so proposed and contained in the order of rulemaking shall
be invalid and void, except that nothing in this act* shall affect the
validity of any rule adopted and promulgated prior to January 1, 1999.
(L. 1969 H.B. 130 § 6, A.L. 1974 H.B. 1190, A.L. 1982 H.B. 1501, A.L.
1985 H.B. 484, A.L. 1989 S.B. 167, A.L. 1993 S.B. 52, A.L. 1995 S.B. 3,
A.L. 1998 H.B. 1656)

Effective 1-1-99

*"This act" (H.B. 1656, 1998) contained numerous sections. Consult
Disposition of Sections table for a definitive listing.

1. The Missouri housing development commission is hereby granted
all powers necessary to create a nonprofit corporation to promote one or
more housing equity funds to serve the state of Missouri. The nonprofit
corporation shall be known as the "Missouri Equity Fund Support
Corporation". The purpose of the housing equity fund is to receive annual
capital investments from investors and to invest those funds in the
construction or renovation of affordable housing units for low-income
families throughout the state of Missouri. The nonprofit corporation
shall not be deemed to be a political subdivision of the state and shall
not be subject to the requirements of chapter 610, RSMo.

2. As used in this section, the following terms mean:

(1) "Developer", any entity responsible for a tax credit development;

(2) "Housing equity fund", the fund or funds established to receive and
invest moneys invested by the investors in tax credit developments;

(3) "Investors", individuals, profit-making private corporations,
partnerships or other entities which invest money in the housing equity
fund and who generally pay Missouri income taxes;

(4) "Nonprofit corporation", the "Missouri Equity Fund Support
Corporation";

(5) "Tax credit development", a development which constructs or
rehabilitates affordable housing in the state of Missouri which is
eligible for state and federal low-income housing tax credits, or federal
rehabilitation tax credits.

3. The nonprofit corporation shall establish and operate, or assist and
advise in the establishment and operation of the housing equity fund
which receives investments from investors and invest such funds in tax
credit developments.

4. The nonprofit corporation shall have the following powers:

(1) To contract with corporations and partnerships operating or intending
to operate a housing equity fund, to provide to them in exchange for
reasonable compensation the following services:

(a) Legal counsel and representation;

(b) Technical assistance;

(c) Administrative assistance;

(d) Marketing of the housing equity fund to potential investors;

(e) Investment underwriting assistance;

(2) To sue and be sued;

(3) To engage in and contract for any and all types of services, actions
or endeavors, not contrary to the law, necessary to the successful and
efficient operation and continuation of the business and purposes for
which it is created;

(4) To purchase, receive, lease or otherwise acquire, own, hold, improve,
use, sell, convey, exchange, transfer and otherwise dispose of real and
personal property, or any interest therein, or other assets wherever
situated; and

(5) To incur liabilities and borrow money at rates of interest up to the
market rate.

5. The governor shall appoint a board of directors to oversee the
nonprofit corporation. The board shall consist of a total of sixteen
members, who have demonstrated knowledge of housing and related issues.
Such board shall include the following:

(1) A representative of real estate brokers and agents;

(2) A representative of residential appraisers;

(3) A representative of affordable housing advocates, which include
homeless service providers, not-for-profit social service organizations
and not-for-profit housing providers;

(4) A representative of the home construction industry;

(5) A representative of banking and savings and loan institutions;

(6) Five representatives of investors who have made capital investments
in housing equity funds which have entered, or can reasonably be expected
to enter, into service contracts with the nonprofit corporation, or
representatives of the investment partners of such investors. If unable
to select suitable members in this category, the governor may instead
select additional representatives from subdivisions (1) to (5) of this
subsection;

(7) By virtue of the office, the treasurer shall be a member of the board;

(8) By virtue of the office, the lieutenant governor shall be a member of
the board;

(9) By virtue of the office, the governor shall be a member of the board;

(10) By virtue of the office, the secretary of state shall be a member of
the board;

(11) By virtue of the office, the director of the department of economic
development shall be a member of the board; and

(12) By virtue of the office, the director of the Missouri housing
development commission shall be a member of the board.

6. Except for members serving by virtue of the office, the members' term
of office shall be four years and until their successors are appointed,
except that of the members first appointed, four shall be appointed for a
term of two years, three shall be appointed for a term of three years,
and three shall be appointed for a term of four years. Vacancies on the
board shall be filled in the same manner as the original appointments,
except that, if the vacancy occurs during an unexpired term, the
appointment shall be for only the unexpired portion of that term.

7. Board members of the nonprofit corporation shall not be compensated
for their services while serving on the board; however, board members may
receive reimbursement for their actual and necessary expenses incurred in
the performance of their duties.

8. The board shall elect chair and other such officers as it deems
necessary for the conduct of its business. If so required by the board,
an officer shall give bond, in such form and amounts and with such
sureties as the board may provide, for the faithful discharge of such
officer's duties, but the premiums for any such bond shall be borne by
the nonprofit corporation.

9. The board shall employ all necessary personnel, fix their
compensation, and provide suitable quarters and equipment for the
operation of the housing equity fund.

10. The Missouri housing development commission may provide the necessary
start-up costs for the nonprofit corporation by grant or loan and may
provide subsequent operating funds as it determines.

11. The nonprofit corporation shall publish an annual report which shall
include, but not be limited to, a description of its efforts in
establishing and maintaining the operation of the housing equity fund,
the types of projects invested in and fund expenditures made by the
housing equity fund. Copies of such annual reports shall be submitted to
the governor, the members of the general assembly and the Missouri
housing development commission on or before February fifteenth of each
year. (L. 1993 H.B. 566 § 12)

1. The "Missouri Housing Trust Fund" is hereby established in
the state treasury. At the conclusion of each fiscal year, the state
treasurer shall allocate all moneys in the Missouri housing trust fund to
the Missouri housing development commission for disbursement and
investment as directed in this section. Moneys deposited in the fund
shall include the designated funds received from the user fee established
in section 59.319, RSMo, money transferred from the Missouri housing
development commission and any other amounts which may be received from
grants, gifts, bequests, the state or federal government, or any other
source. Moneys in the fund shall be used solely for the purposes
established by sections 215.034 to 215.039.

2. All administrative costs of this program incurred by the Missouri
housing development commission shall be paid from this fund, which costs
annually shall not exceed two percent of the net annual revenues received
into the fund.

3. In administering the Missouri housing trust fund, the Missouri housing
development commission shall commit or expend the money annually
deposited into the fund and all interest earned on the fund. All money
annually deposited in and interest earned on the housing trust fund shall
be expended solely for the purposes established in sections 215.034 to
215.039.

4. The unexpended balance existing in the fund at the end of any biennium
year shall be exempt from the provisions of section 33.080, RSMo,
relating to the transfer of unexpended balances to the general revenue
fund. (L. 1994 H.B. 1745 § 215.035)

1. Housing trust fund moneys shall be used to financially
assist, in whole or in part by loans or grants, the development of
housing stock and to provide housing assistance to persons and families
with incomes at or below the levels described in subsections 2 and 3 of
this section. At least fifty percent of the loan or grant funds awarded
over each two-year period, coincident with the biennium described in
section 33.080, RSMo, shall be awarded for such activities and projects
for residential occupancy by persons and families with incomes at or
below the levels described in subsection 3 of this section.

2. Persons or families are eligible under this subsection if the
household combined adjusted gross income is equal to or less than the
following percentages of the median family income for the geographical
area:

Percent of State or Geographic Size of Household Area Family Median
Income One person 35% Two persons 40% Three persons 45% Four persons 50%
Five persons 54% Six persons 58% Seven persons 62% Eight persons 66% As
used in this section, the term "geographical area" shall be based upon
the metropolitan area or county designated as an area by the federal
Department of Housing and Urban Development under section 8 of the United
States Housing Act of 1937, as amended, for purposes of determining fair
market rental rates in which the residential unit is located, or the
median family income for the state of Missouri, whichever is larger.

3. Persons or families are eligible under this subsection if the
household combined adjusted gross income is equal to or less than the
following percentages of the median family income for the geographic area
in which the residential unit is located, or the median family income for
the state of Missouri, whichever is larger:

Percent of State or Geographic Size of Household Area Family Median
Income One person 18% Two persons 20% Three persons 23% Four persons 25%
Five persons 27% Six persons 29% Seven persons 31% Eight persons 33%

4. During each two-year period described in subsection 1 of this section,
at least thirty percent of the funds dispersed under this act* shall be
allocated to housing provider organizations which qualify as a
"not-for-profit" organization as defined in chapter 355, RSMo, or section
42(h)(5)(C) of the Internal Revenue Code of 1986. (L. 1994 H.B. 1745 §
215.036 subsecs. 1 to 4)

*"This act" (H.B. 1745, 1994) contained numerous sections. Consult
Disposition of Sections table for a definitive listing.

1. Any rental project or development receiving a loan or grant
under sections 215.036 to 215.038 shall charge gross rental rates no
greater than thirty percent of the maximum eligible household income for
the assisted unit, for a period of eighteen years following final
disbursement, or for the length of the loan, whichever is greater, or for
any longer period of time imposed by the Missouri housing development
commission. Gross rent includes the cost of any utilities other than
telephone. If any utilities are paid directly by the occupant, the
maximum rent that may be paid by the occupant is to be reduced by a
utility allowance prescribed by the Missouri housing development
commission. The owner of units shall, as a condition of receiving
assistance, cause to be incorporated into the property title a legal
covenant restating the provisions of this subsection.

2. The owner of any assisted unit shall annually certify to the Missouri
housing development commission that each grant or loan recipient is
charging rental rates in compliance with sections 215.036 to 215.038. The
Missouri housing development commission may prescribe annual owner
compliance forms and is authorized, in its discretion, to audit the
records and accounts of the owner to verify the certification.

3. The owner of any assisted unit shall annually certify to the Missouri
housing development commission that all tenants renting units from a
project or development receiving a loan or grant under sections 215.036
to 215.038 are income eligible pursuant to sections 215.036 to 215.038.
The Missouri housing development commission may prescribe annual owner
compliance forms and is authorized, in its discretion, to audit the
records and accounts of the owner to verify the certification. (L. 1994
H.B. 1745 § 215.036 subsecs. 5, 6, 7)

The following are projects eligible for assistance under
sections 215.034 to 215.039:

(1) Limited equity cooperatives in multifamily units, which shall be
considered rental housing, and the monthly cooperative fee shall be
considered the rental rate, or detached units, in urban, rural, or
suburban areas;

(2) Rent subsidies for newly constructed units or rehabilitated
multifamily units otherwise assisted under this act*;

(3) Rent subsidies for existing units which are not in violation of
municipal or county housing codes;

(4) Capacity building grants for not-for-profit housing corporations, as
defined in subsection 4 of section 215.036, where the recipient serves a
rural area and has been involved in housing construction, rehabilitation
or services of the nature described in section 215.036 for less than four
years;

(5) Matching funds for social services directly related to special needs
tenants in assisted projects;

(6) Infrastructure improvement for eligible projects;

(7) New construction of permanent rental housing;

(8) Rehabilitation of vacant rental houses, or vacant multifamily units;

(9) New construction or rehabilitation of single-room occupancy units;

(10) New construction or rehabilitation of single-family housing;

(11) Shelters and related services for the homeless;

(12) Emergency aid such as temporary rental and mortgage payment and
repairs to prevent homelessness;

(13) Provisions for rental housing for elderly and low-income residents
of rural areas of Missouri by the Farmers Home Administration, or its
successor agency;

(14) Mortgage insurance guarantees or payments for eligible projects; and

(15) Housing related services, including, but not limited to, home
maintenance programs. (L. 1994 H.B. 1745 § 215.036 subsec. 8)

*"This act" (H.B. 1745, 1994) contained numerous sections. Consult
Disposition of Sections table for a definitive listing.

1. In administering the Missouri housing trust fund, the
Missouri housing development commission may, in its discretion, enter
into agreements with municipal or county government entities for the
purpose of assisting programs of activities of such entities that meet
the purposes of the Missouri housing trust fund established in sections
215.034 to 215.039.

2. The Missouri housing development commission is hereby granted all
powers necessary to carry out the purposes of sections 215.034 to
215.039, including the authority to write rules and regulations pursuant
to section 215.030 and chapter 536, RSMo.

3. The Missouri housing development commission shall publish an annual
report which shall include, but not be limited to, the types of projects
assisted and fund expenditures made by the Missouri housing trust fund.
Copies of such annual reports shall be submitted to the governor and the
members of the general assembly on or before January fifteenth of each
year. (L. 1994 H.B. 1745 § 215.038)

The commission shall charge a reasonable fee on all loans not
federally insured to insure said loans. The proceeds of said fees shall
be deposited in a separate fund to be known as the "Housing Insured Loan
Fund". This fund shall be deposited when received in a bank approved for
deposit of state funds. No moneys shall be withdrawn from the fund except
to be used for the purchase of mortgage insurance or to pay for any
losses on said loans. (L. 1969 H.B. 130 § 7)

1. The commission shall establish a fund to be known as the
"Housing Development Fund". There shall be paid into the housing
development fund:

(1) Any moneys appropriated and made available to the commission to carry
out the purposes of this fund;

(2) Any moneys which the commission receives in repayment of advances or
loans made from the fund; and

(3) Any other moneys which may be made available to the commission for
the purpose of such fund from any other source or sources.

2. Moneys held in the housing development fund may be used to make
noninterest-bearing advances to nonprofit corporations to defray
development costs of constructing or rehabilitating residential housing
if such housing complies with the standards set by the commission under
sections 215.010 to 215.250. No noninterest-bearing advances may be made
unless the commission may reasonably anticipate that permanent financing
of the residential housing may be obtained.

3. Each advance shall be repaid in full concurrent with the receipt by
the nonprofit corporation of the proceeds of the permanent financing or
of the construction loan, unless the commission shall extend the period
for the repayment of such advance, provided that no such extension shall
be granted beyond the date of final payment under the permanent financing.

4. If the commission shall determine at any time that permanent financing
may not be obtained, the advance shall become immediately due and payable
and shall be paid from any assets of the residential housing project. (L.
1969 H.B. 130 §§ 8, 9)

CROSS REFERENCE: Housing development fund abolished subject to exemption,
RSMo 33.571

1. The commission shall administer, in cooperation with the
department of mental health, a fund to be known as the "Mental Health
Housing Trust Fund", which is hereby created in the state treasury.

2. Notwithstanding any other provision of the law to the contrary, any
proceeds received by the state from the sale of surplus real property
formerly used by the department of mental health shall, upon
appropriation, be paid into the mental health housing trust fund. Moneys
in the mental health housing trust fund shall be invested by the state
treasurer in the same deposits and obligations in which state funds are
authorized by law to be invested; except that, the income accruing from
such funds shall be credited to the mental health housing trust fund on
an annual basis.

3. Interest earned on moneys held in the mental health housing trust fund
may, upon appropriation, be used to:

(1) Finance the rental, purchase, construction or substantial
rehabilitation of community-based housing for clients of the department
of mental health who have a mental illness, developmental disability or
are chemically dependent, through grants or loans or both;

(2) Support department of mental health housing voucher expenses for
department of mental health clients;

(3) Pay subsidies and administrative costs of consumer home-ownership
programs, for the department of mental health clients;

(4) Provide matching grants for federal, state or local housing projects
which serve clients of the department of mental health;

(5) Fifty percent of proceeds from the sale of habilitation center
property shall, subject to appropriations, be used for the construction
or substantial renovation of habilitation centers.

4. The department of mental health shall work in cooperation with the
commission in selecting the projects which are to be funded. The
commission shall review the proposals for financial feasibility. The
commission shall fund those projects which are financially feasible and
which are approved by the department of mental health, in the priority
order established by the department. To the maximum extent possible, the
proceeds of the sale of surplus property formerly used by the department
of mental health shall be invested in those municipalities which
comprised the population catchment area of the facility being disposed of
and in other municipalities in great need as determined by the department.

5. The commission shall manage the mental health housing trust fund. Such
management shall include, but not be limited to, accepting deposits,
reviewing and funding projects approved by the department of mental
health, and reporting to the department of mental health on fund
activities.

6. Notwithstanding the provisions of section 33.080, RSMo, to the
contrary, money in the fund shall not be transferred and placed to the
credit of general revenue at the end of the biennium, except by
appropriation.

7. Notwithstanding the provisions of subsection 2 of this section, the
proceeds of the sale of real property known as the St. Joseph State
Hospital shall not be paid into the mental health housing trust fund but
shall be used for the construction of the new state hospital in St.
Joseph, Missouri. (L. 1993 S.B. 388, A.L. 1994 S.B. 742)

1. The commission may make mortgage loans for the construction
and rehabilitation of such residential housing as in the judgment of the
commission has promise of supplying well-planned, well-designed housing
for low and moderate income persons or families in locations where there
is a need for such housing. Such loans may include interim as well as
permanent loans, and the housing may include ancillary commercial and
other appurtenant facilities to the extent permitted by applicable
commission regulations.

2. The commission may make loans to approved mortgagors which may develop
and operate residential housing projects under sections 215.010 to
215.250 on a rental, cooperative or condominium basis.

3. The commission may make or purchase low interest loans to approved
mortgagors in connection with weatherization of single family and
multifamily dwellings.

4. The commission shall establish a program to make loans to approved
mortgagors for the purchase and development of owner-occupied multiunit
dwellings of not more than four units and other residential rental
property located within one-fourth of a mile from the residence of the
owner of such residential rental property.

5. All single family and multifamily dwellings constructed under section
215.030 shall be built according to weatherization standards established
by the Missouri housing development commission in consultation with the
department of natural resources. (L. 1969 H.B. 130 §§ 10, 11, A.L. 1974
H.B. 1190, A.L. 1982 H.B. 1501, A.L. 1985 H.B. 484, A.L. 1993 H.B. 566)

The Missouri housing development commission, or its successor
agency, shall continue to implement the home improvement and
weatherization loan program which was in effect prior to June 18, 1991.
The commission may contract with local political subdivisions and
nonprofit organizations pursuant to criteria developed by the commission
to further the goals of the home improvement and weatherization loan
program. (L. 1991 S.B. 185 § 2)

Effective 6-18-91

The commission may establish a special fund to be known as the
"Debt Service Reserve Fund", and shall pay into such debt service reserve
fund:

(1) Any moneys appropriated and made available by the state for the
purposes of such fund;

(2) Any proceeds from the sale of bonds by the commission, to the extent
provided in the resolution of the commission authorizing the issuance
thereof; and

(3) Any other moneys which may be made available to the commission for
the purpose of such fund from any other source or sources. All moneys
held in the debt service reserve fund shall be invested in accordance
with subdivision (9) of section 215.030 and as the commission may by
resolution determine. (L. 1969 H.B. 130 § 12, A.L. 1972 H.B. 1259, A.L.
1974 H.B. 1190, A.L. 1975 H.B. 949, A.L. 1985 H.B. 484)

The commission may set from time to time the interest rates at
which it shall make loans, keeping its interest rates at the lowest level
consistent with the commission's cost of operation and its
responsibilities to the holders of its bonds, bond anticipation notes and
other responsibilities. (L. 1969 H.B. 130 § 13)

With respect to an approved mortgagor which is a limited
dividend corporation, the net earnings of such approved mortgagor shall
be limited to an amount not to exceed a percentage per annum established
by the commission of such approved mortgagor's equity in a development.
The equity in a development shall consist of the difference between the
amount of the mortgage loaned and the project cost or the difference
between the mortgage as reduced by payment to principal and the project
cost. The commission shall at the time of establishing such percentage
consider such factors as financial risk, location of the development,
proposed use of the residential facilities and management cost. The
equity in any development may be increased by the actual cost of capital
improvements approved by the commission and by reduction of the mortgage
in payment to principal. Any acceleration of payment to principal shall
be subject to prior approval of the commission. With respect to every
development the commission shall, pursuant to rules and regulations
adopted by it, establish such approved mortgagor's initial equity at the
time of making the final mortgage advance. Such net earnings shall be
computed after deducting from gross earnings the following:

(1) All costs and expenses of maintenance and operation;

(2) Amounts paid for taxes, assessments, insurance premiums and other
similar charges;

(3) Amounts paid annually by the approved mortgagor to principal and
interest on the mortgage note or notes then outstanding.

The development plan may contain provisions, satisfactory to the
commission that any surplus earnings in excess of the rate of net
earnings provided in sections 215.010 to 215.250 may be held by the
corporation as a reserve for maintenance of such rate of return in the
future and may be used by the corporation to offset any deficiency in
such rate of return which may have occurred in prior years; or may be
used to accelerate the amortization payments; or for the enlargement of
the project; or for reduction in rentals therein; provided, that any
excess of such surplus earnings remaining at the termination of the loan
shall be turned over by the corporation to the commission. (L. 1969 H.B.
130 § 14, A.L. 1974 H.B. 1190, A.L. 1985 H.B. 484, A.L. 1989 S.B. 167)

The ratio of loan to project cost and the amortization period of
loans made by the commission shall be determined in accordance with
regulations formulated and published by the commission. (L. 1969 H.B. 130
§ 15)

The commission shall require that occupancy of all housing
financed or otherwise assisted under sections 215.010 to 215.250 be open
to all persons regardless of race, national origin, religion, or creed,
and that contractors and subcontractors engaged in the construction or
rehabilitation of such housing shall provide equal opportunity for
employment, without discrimination as to race, national origin, religion
or creed. (L. 1969 H.B. 130 § 16)

1. The commission may from time to time issue its negotiable
revenue bonds or notes in such principal amount, as, in the opinion of
the commission, shall be necessary to provide sufficient funds for
achieving its corporate purposes, including the making of mortgage loans
for residential housing to be occupied by low and moderate income
persons; for the rehabilitation of existing structures so occupied; for
the construction of residential housing and appurtenant community
facilities as provided in sections 215.010 to 215.250; for establishment
of reserves to secure such bonds and notes; and all other expenditures of
the commission incident to and necessary to carry out its corporate
purposes and powers.

2. The commission may from time to time issue renewal notes, issue bonds
to pay such notes, and whenever it deems refunding expedient, to refund
any bonds by the issuance of new bonds, whether the bonds to be refunded
have or have not matured, and to issue bonds partly to refund bonds then
outstanding and partly for any other purpose. The refunding bonds shall
be sold and the proceeds applied to the purchase, redemption or payment
of the bonds to be refunded.

3. The notes and bonds issued under sections 215.010 to 215.250 shall be
authorized by resolution of the members of the commission, shall bear
such date or dates, and shall mature at such time or times, in the case
of any note, or any renewal thereof, not exceeding twenty years, from the
date of issue of such original note, and in the case of any bond not
exceeding fifty years from the date of issue, as the resolution may
provide. The notes and bonds shall bear interest at such rate, be in such
denominations, be in such form, either coupon or registered, carry such
registration privileges, be executed in such manner, be payable in such
medium of payment, at such place or places and be subject to such terms
of redemption as such resolution or resolutions may provide. The notes
and bonds of the commission may be sold by the commission, at public or
private sale, at such price or prices as the commission shall determine.

4. The state shall not be liable on notes or bonds of the commission and
such notes and bonds shall not be a debt of the state, and such notes and
bonds shall contain on the face thereof a statement to such effect. (L.
1969 H.B. 130 §§ 17 to 20)

A resolution of the commission authorizing the issuance of any
notes or bonds or any issue thereof under sections 215.010 to 215.250 may
provide for:

(1) Pledging all or any part of the fees and charges made or received by
the commission and all or any part of the moneys received in payment of
mortgage loans and interest thereon and other moneys received or to be
received, to secure the payment of the notes or bonds or of any issue
thereof, and subject to such agreements with bondholders or noteholders
as may then exist;

(2) Pledging all or any part of the revenue of the commission, including
payments or income from mortgages or obligations owned or held by the
commission, to secure the payment of notes or bonds issued under sections
215.010 to 215.250 or of any issue of such notes or bonds, subject to
such agreements with noteholders or bondholders as may then exist;

(3) Pledging of any loan, grant, or contribution from the federal, state,
or local government, if authorized by the terms of such loan, grant or
contribution;

(4) The use and disposition of the gross income from mortgages owned by
the commission and payment of principal of mortgages owned by the
commission;

(5) The setting aside of reserves or sinking funds and the regulation and
disposition thereof;

(6) Limitations on the purpose to which the proceeds of sale of notes or
bonds may be applied and pledging such proceeds to secure the payment of
the notes or bonds or of any issue thereof;

(7) Limitations on the issuance of additional notes or bonds; the terms
upon which additional notes or bonds may be issued and secured and the
refunding of outstanding or other notes or bonds;

(8) The procedure, if any, by which the terms of any contract with
noteholders or bondholders may be amended or abrogated, the amount of
notes or bonds the holders of which must consent thereto and the manner
in which such consent may be given;

(9) Vesting in a trustee or trustees such property, rights, powers and
duties in trust as the commission may determine, which may include any or
all of the rights, powers and duties of the trustee appointed by the
bondholders pursuant to sections 215.010 to 215.250 and limiting or
abrogating the right of the bondholders to appoint a trustee or limiting
the rights, powers and duties of such trustee;

(10) Any other matters of like or different character, which in any way
affect the security or protection of the notes or bonds issued by the
commission. (L. 1969 H.B. 130 § 21)

No member of the commission or any authorized person executing
the notes or bonds shall be liable personally on the notes or bonds or be
subject to any personal liability or accountability by reason of the
issuance thereof. (L. 1969 H.B. 130 § 22)

The commission, subject to the terms of any agreements with
noteholders or bondholders as may then exist, shall have power out of any
funds available therefor and not otherwise committed, to purchase notes
or bonds of the commission which shall thereupon be canceled at a price
not exceeding: (a) if the notes or bonds are redeemable, the redemption
price then applicable plus accrued interest to the next interest payment
date thereon, or (b) if the notes or bonds are not then redeemable, the
redemption price applicable on the first date after such purchase upon
which the notes or bonds become subject to redemption plus accrued
interest to such date. (L. 1969 H.B. 130 § 23)

The commission shall not have outstanding at any one time bonds
and notes for any of its purposes in an aggregate principal amount
exceeding two hundred million dollars, excluding bonds and notes issued
to refund outstanding bonds and notes; provided, however, that the
limitation contained in this section shall not apply to any bonds or
notes of the commission which are secured, directly or indirectly, by
first mortgage loans which have been insured or guaranteed by an agency
or instrumentality of the United States, or any bonds or notes of the
commission which at the time of issuance are rated not lower than "Aa" by
Moody's Investors Service, Inc., in the case of long-term obligations or
rated Moody's "Investment Grade I" by Moody's Investors Service, Inc., in
the case of short-term obligations; or rated not lower than "AA" by
Standard & Poor's Corporation in the case of long-term obligations or
rated "SP-1+" by Standard & Poor's Corporation in the case of short-term
obligations, or the equivalent ratings by Moody's Investors Service,
Inc., or Standard & Poor's Corporation in the event the ratings described
in this section are changed. (L. 1969 H.B. 130 § 24, A.L. 1974 H.B. 1190,
A.L. 1985 H.B. 484)

1. If the commission defaults in the payment of principal or
interest on any issue of notes or bonds after the same shall become due,
whether at maturity or upon call for redemption, and such default
continues for a period of thirty days or if the commission fails or
refuses to comply with the provisions of sections 215.010 to 215.250, or
defaults in any agreement made with the holders of any issue of notes or
bonds, the holders of twenty-five percent in aggregate principal amount
of the notes or bonds of such issue then outstanding may appoint a
trustee to represent the holders of such notes or bonds for the purposes
set forth in this section and sections 215.180 and 215.190.

2. The trustee appointed pursuant to subsection 1 may, and upon written
request of the holders of twenty-five percent in principal amount of such
notes or bonds then outstanding shall, in his own name:

(1) Enforce all rights of the noteholders or bondholders including the
right to require the commission to collect fees and charges and interest
and amortization payments on mortgage loans made by it adequate to carry
out any agreement as to, or pledge of, such fees and charges and interest
and amortization payments of such mortgages and other properties, and to
require the commission to carry out any other agreements with the holders
of such notes or bonds and to perform its duties under sections 215.010
to 215.250;

(2) Bring suit upon such notes or bonds;

(3) Require the commission to account as if it were the trustee of an
express trust for the holders of such notes or bonds;

(4) Enjoin any acts or things which may be unlawful or in violation of
the rights of the holders of such notes or bonds; or

(5) Declare all such notes or bonds due and payable; and if all defaults
shall be made good, then, with the consent of the holders of twenty-five
percent of the principal amount of such notes or bonds then outstanding,
to annul such declaration and its consequences.

3. In addition to the powers granted in subsections 1 and 2 the trustee
shall have and possess all of the powers necessary or appropriate for the
exercise of any functions specifically set forth herein or incident to
the general representation of bondholders and noteholders in the
enforcement and protection of their rights. (L. 1969 H.B. 130 §§ 25, 26,
27)

The venue of any action or proceeding brought by the trustee
under section 215.170 shall be in Cole County. Before declaring the
principal of notes or bonds due and payable, the trustee shall first give
thirty days' notice in writing to the governor, to the commission and to
the attorney general of the state of Missouri. (L. 1969 H.B. 130 § 28)

The notes and bonds of the commission are securities in which
all public officers and bodies of this state and all municipalities and
municipal subdivisions, all insurance companies and associations, and
other persons carrying on an insurance business, all banks, trust
companies, savings associations, savings and loan associations,
investment companies, all administrators, guardians, executors, trustees,
and other fiduciaries, and all other persons whatsoever who are now or
may hereafter be authorized to invest in bonds or other obligations of
the state, may properly and legally invest funds, including capital, in
their control or belonging to them. (L. 1969 H.B. 130 § 29)

The commission shall not be required to pay any taxes and
assessments to the state of Missouri, or any county, municipality or
other governmental subdivision of the state of Missouri, upon any of its
property or upon its obligations or other evidences of indebtedness
pursuant to the provisions of sections 215.010 to 215.250, or upon any
moneys, funds, revenues or other income held or received by the
commission, and the notes and bonds of the commission and the income
therefrom shall at all times be exempt from taxation, as aforesaid,
except for death and gift taxes, taxes on transfers, sales taxes, real
property taxes and business and occupation taxes. (L. 1969 H.B. 130 § 30)

The commission is authorized to provide to nonprofit
corporations such advisory, consultative, training and education services
as will assist them to become owners of housing constructed or
rehabilitated under sections 215.010 to 215.250. Advisory and education
services may include, but are not necessarily limited to, technical and
professional planning assistance, the preparation and promulgation of
organizational planning and development outlines and guides, consultation
services, training courses, seminars and lectures, the preparation and
dissemination of newsletters and other printed materials and the services
of field representatives. The commission is also authorized to provide
nonprofit corporations with advisory, consultative, technical, training
and educational services in the management of residential housing,
including but not limited to home management and training and advisory
services for the residents so as to promote efficient and harmonious
management thereof. (L. 1969 H.B. 130 § 31)

No part of the funds of the commission shall inure to the
benefit of or be distributable to its members or officers or other
private persons except that the commission shall be authorized and
empowered to pay reasonable compensation, other than to the members of
the commission, for services rendered and to make loans as previously
specified in furtherance of its purpose, provided that no such loans
shall be made to any member of the commission. (L. 1969 H.B. 130 § 32)

Upon termination or dissolution, all rights and properties of
the commission, including the housing development fund, shall pass to and
be vested in the state of Missouri, subject to the rights of lienholders
and other creditors. (L. 1969 H.B. 130 § 33)

The commission shall cause an annual audit to be made by an
independent certified public accountant of its books, accounts, and
records, with respect to its receipts, disbursements, contracts,
mortgages, leases, assignments, loans and all other matters relating to
its financial operations, including those of the housing development
fund. The person performing such audit shall furnish copies of the audit
report to the state auditor, where they shall be placed on file and made
available for inspection by the general public. The person performing
such audit shall also furnish copies of the audit report to the governor,
the speaker of the house of representatives, the president of the senate
and the majority and minority leaders of both houses. (L. 1969 H.B. 130 §
34)

Beginning July 1, 2006, the commission shall not award grants or
loans to any home rule city with more than four hundred thousand
inhabitants and located in more than one county unless the governing body
of such city has implemented oversight procedures to review expenditures
and development plans for all housing contracts in excess of one hundred
thousand dollars. (L. 2005 H.B. 58 merged with S.B. 210)

Any funds appropriated from general revenue for the
administrative cost of operating the state housing development commission
shall be reimbursed by the commission to general revenue as funds become
available to the commission. (L. 1969 H.B. 130 § 35)

The "State Commission on Regulatory Barriers to Affordable
Housing" is hereby created. The commission shall identify federal, state
and local regulatory barriers to affordable housing and recommend means
to eliminate such barriers. The commission shall report its findings,
conclusions and recommendations in a report to be filed no later than
August 31, 1995, and August thirty-first of each year thereafter, with
the speaker of the house of representatives, the president pro tempore of
the senate and the governor. The commission may also provide a copy of
its report to any unit of federal, state or local government. (L. 1994
H.B. 1745 § 1 subsec. 1)

The commission shall consist of nine voting members, seven of
which shall be appointed by the governor by and with the advice and
consent of the senate. The appointed commission members shall include two
residential general contractors, two citizens at large, one residential
land developer, one residential architect and one residential engineer.
The chief administrative officers of the Missouri housing development
commission and the Missouri department of economic development shall also
be members of the commission and shall retain their memberships on the
commission for the duration of their service to the Missouri housing
development commission and the Missouri department of economic
development. The commission may, in its discretion, establish other ex
officio members as it deems prudent, who shall stand appointed and
qualified for membership on the commission upon the resolution of the
commission. Members of the commission shall serve for terms of three
years, but of the first members appointed, three shall serve for a term
of one year, two shall serve for a term of two years and two shall serve
for a term of three years. Vacancies on the commission shall be filled
for the unexpired term in the same manner as original appointments are
made. The commission may remove any of its members for cause after
hearing. Members of the commission on regulatory barriers to affordable
housing shall receive no compensation for their services, but may be
reimbursed for actual and necessary expenses incurred by them in the
performance of their duties. (L. 1994 H.B. 1745 § 1 subsec. 2)

1. For purposes of sections 215.261 to 215.263, the term
"affordable housing" means all residential structures newly constructed
or rehabilitated, which a person earning one hundred fifteen percent or
less of the median income for the person's county, as determined by the
United States Bureau of the Census, could afford if spending twenty-nine
percent of that person's gross income annually on such housing.

2. Clerical, research and general administrative support staff for the
commission shall be provided by the Missouri department of economic
development. (L. 1994 H.B. 1745 § 1 subsecs. 3, 4)

As used in sections 215.300 to 215.318, the following terms mean:

(1) "Additional subsidies", subsidies provided by the Missouri housing
development commission to the owner of a subsidized multifamily rental
housing project pursuant to section 215.311;

(2) "Administering agency", the Missouri housing development commission;

(3) "Affordable rent", a rent amount less than or equal to thirty percent
of a family's income;

(4) "Expand affordability", to reduce the cost of the housing to one or
more low income tenants;

(5) "HUD", the United States Department of Housing and Urban Development,
and shall include the Federal Housing Administration and a local housing
authority when it is acting to administer a HUD program;

(6) "Low income tenant", a tenant who is a person or group of persons
residing in the same housing accommodation so long as the total income
for all such persons for the most recent twelve-month period is less than
or equal to fifty percent of the median income for the area, as defined
by HUD, in accordance with section 1437a, Title 42, United States Code;

(7) "Low income unit", a housing unit for which the annual rental charge
is less than or equal to thirty percent of the maximum annual income for
a low income tenant;

(8) "Moderate income tenant", a tenant who is a person or group of
persons residing in the same housing accommodation so long as the total
income for all such persons for the most recent twelve-month period is
more than fifty percent but less than or equal to eighty percent of the
median income for the area, as defined by HUD, in accordance with section
1437a, Title 42, United States Code;

(9) "Moderate income unit", a housing unit for which the annual rental
charge is less than or equal to thirty percent of the maximum annual
income for a moderate income tenant;

(10) "Mortgage prepayment", repayment of outstanding debt on a loan
issued pursuant to a federal mortgage insurance program, prior to the
maturity date of the loan;

(11) "Multifamily rental housing project", a building or buildings under
common ownership and containing four or more rental units that were
constructed or substantially rehabilitated pursuant to a federal mortgage
insurance program;

(12) "Prepayment restriction", any limitation imposed by the federal
government with regard to the repayment of outstanding debt on a loan
issued pursuant to a federal mortgage insurance program, prior to the
maturity date of the loan, without the prior approval of the secretary of
the Department of Housing and Urban Development. (L. 1989 H.B. 378 § 17)

The provisions of sections 215.300 to 215.318 shall apply to all
multifamily rental housing projects in any city or town in this state
constructed or substantially rehabilitated pursuant to sections 236 and
221(d)(3) of the National Housing Act, as amended. (L. 1989 H.B. 378 § 18)

Any owner of a multifamily housing project subject to the
provisions of sections 215.300 to 215.318 which is or will become
eligible for mortgage prepayment without the prior approval of the
secretary of the Department of Housing and Urban Development shall be
eligible for additional subsidies under the provisions of sections
215.300 to 215.318. (L. 1989 H.B. 378 § 19)

1. The Missouri housing development commission shall review HUD,
state, and local public records and produce a report on subsidized
multifamily rental housing projects in the state by December 31, 1989.
Such report shall include:

(1) The name and address of the owner of record of the property;

(2) The name and address of the management company of the property;

(3) The name and address of the property mortgagee;

(4) Details on the type or types of subsidy the property is receiving;

(5) The number of units of the property covered by each subsidy;

(6) The earliest and latest possible date under current agreements for
termination of each subsidy extended to the property;

(7) Copies of the individual regulatory agreements for each of the
buildings;

(8) Any additional contractual agreements between HUD and the building
owner, except those not available under the Freedom of Information Act,
as amended;

(9) Any state or local subsidies, waivers, or variances granted to the*
owner of the property with regard to the specific subsidized multifamily
rental housing project.

2. Such report shall be made available to the public.

3. Upon publication of the report, the administering agency shall
distribute copies to owners of the following subsidized multifamily
rental housing projects and said owners shall provide said information to
their current and new tenants:

(1) The name and address of the owner of record of the property;

(2) The name and address of the management company for the property;

(3) The name and address of the property mortgagee;

(4) Details on the type of subsidy the property is receiving;

(5) The number of units of the property covered by each subsidy;

(6) The earliest and latest possible date under current agreements for
termination of each subsidy extended to the property.

4. As state and local government agencies are provided with notices of
intent to prepay, plans of action, and other information under Title II
of the United States Housing and Community Development Act of 1987, they
shall provide such information to tenants dwelling at the relevant
property and also to their representatives and also make it available to
the public. (L. 1989 H.B. 378 § 20)

*Word "the" does not appear in original rolls.

1. An owner of a multifamily rental housing project seeking
additional subsidies for the property shall file with the Missouri
housing development commission a request for subsidies in such form and
manner as the Missouri housing development commission shall prescribe.
Upon receipt of a notice of intent, the Missouri housing development
commission shall provide the owner with such information as the owner
needs to prepare a plan to expand affordability, which information shall
include a description of the state incentives authorized under sections
215.300 to 215.318 and the affordability restrictions placed on
properties whose owners are granted the additional subsidies. The owner
may submit the plan to expand affordability to the Missouri housing
development commission in such form and manner as the Missouri housing
development commission shall prescribe.

2. The plan to expand affordability shall include:

(1) A description of any incentive that the owner is requesting from the
state or local government agencies as determined by prior consultation
between the owner and any appropriate state or local agencies;

(2) An assessment of the effect of the grant of the proposed incentives
on present and future tenants dwelling at the property, including, but
not limited to, affordability and maintenance of units of the property;

(3) Any other information that the Missouri housing development
commission determines is necessary to achieve the purposes of sections
215.300 to 215.318.

3. The owner may from time to time revise and amend the plan of action as
may be necessary to obtain approval of the plan under this section.

4. After receiving a plan of action from an owner of a multifamily rental
housing project, the Missouri housing development commission may enter
into such agreements as are necessary to satisfy the criteria for
approval under section 215.314.

5. Such agreements may include the provision to the owner by the state or
local government of one or more of the following incentives that the
Missouri housing development commission determines to be necessary
including:

(1) State income tax credits, pursuant to section 32.115, RSMo;

(2) Recommendations to local governments to grant property tax abatements;

(3) Financing for second mortgages from the housing development fund as
established by section 215.050;

(4) Grants from the housing development fund as established by section
215.050. (L. 1989 H.B. 378 § 21)

The Missouri housing development commission shall not make
additional subsidies to a multifamily rental housing project unless the
owner enters into such agreements with the state or local government
agency as are necessary to assure that:

(1) The housing will be retained as housing affordable for low income
families or persons, and moderate income families or persons for the
remaining term of the mortgage or until the term of any subsidy contract
expires or an additional twenty years, whichever is longer, and
throughout such extended period, adequate expenditures shall be made for
maintenance and operation of the housing;

(2) The owner shall not charge or attempt to charge rents in excess of
those deemed affordable to low income families for forty percent of those
units becoming available to new tenants following vacation of a
subsidized unit by previous tenants, and the owner shall not charge or
attempt to charge rents in excess of those deemed affordable to moderate
income families for the remaining sixty percent of the subsidized units
becoming available following vacation by previous tenants;

(3) Following any vacation of a moderate or low income unit by its
occupants the owner shall rent the unit to a household that qualifies as
a low income household or moderate income household on its initial
occupancy of the unit;

(4) The owner shall not increase rents on additional subsidy units more
than one time every twelve months nor by more than a percentage amount
equal to the percentage increase in the CPI for the preceding year unless
the administering agency approves a greater increase due to extraordinary
circumstances;

(5) The owner shall seek to retain, renew, extend and utilize, to the
greatest extent feasible, any financing or subsidy arrangements available
to the project which would expand the affordability of the housing;

(6) The owner shall not refuse to accept housing vouchers and section 8
existing housing certificates from tenants in partial payment of rent due;

(7) The owner shall not discriminate against any household desiring to
rent a subsidized unit on the basis of the household's receipt of any
public assistance payments or utilization of housing vouchers or section
8 existing housing certificates;

(8) Each year following grant of the additional subsidies, no later than
sixty days following the anniversary date of the first grant of
additional subsidies, the owner of the multifamily rental housing project
shall submit a written certification to the administering agency on a
form provided by the administering agency which set forth the rent of
each additional subsidy unit held by the owner as of the date of the
certification and which certifies to the administering agency that the
occupants of each additional subsidy unit qualified as a low income
household or moderate income household on the date of initial occupancy
of the additional subsidy unit by that household;

(9) Any tenant residing in a multifamily rental housing project receiving
additional subsidies may petition the administering agency for a downward
adjustment of rent, if the tenant is paying rent in excess of thirty
percent of his* income. (L. 1989 H.B. 378 § 22)

*Word "their" appears in original rolls.

Prior to entering agreements to grant additional subsidies to
the owner of a subsidized multifamily rental housing project, the
Missouri housing development commission shall consult with the owner, the
tenants, the local government, and HUD and shall hold a public hearing.
The Missouri housing development commission shall give due consideration
to any comments submitted by the tenants and the local government with
regards to the expansion of affordability. (L. 1989 H.B. 378 § 23)

1. The provisions of any agreement to grant additional subsidies
to an owner shall supersede any municipal or county ordinance covering
the same subject matter.

2. Nothing contained in sections 215.300 to 215.318 shall be construed to
require an owner to enter into any agreements referred to in such
sections or to accept subsidies set out in these sections. (L. 1989 H.B.
378 §§ 24, 25)

After August 28, 1994, before the commission approves any
assistance for multifamily rental housing of twelve or more units, the
commission shall notify the chief elected official of the city or, if not
within a city, notify the chief elected official of the county in which
proposed site is located, of the request to the commission for assistance
for multifamily rental housing and invite written comments from the chief
elected official of the city or county within thirty days before taking
action on the assistance request. (L. 1994 H.B. 1766 § 215.252)

Sections 215.340 to 215.349 shall be known as the "Workfare
Renovation Project". Subject to participation by qualifying cities, the
Missouri housing development commission shall establish a two-year pilot
project in each of the two cities defined in section 215.345 which shall
provide for the renovation of property in the urban core of the city for
subsequent purchase pursuant to the provisions of sections 215.340 to
215.349. (L. 1997 2d Ex. Sess. S.B. 1 § 8)

Effective 12-23-97

As used in sections 215.340 to 215.349, the following terms mean:

(1) "Agency", the participating city's administering agency of the
workfare renovation project;

(2) "City", any city not within a county or any city with at least three
hundred fifty thousand inhabitants which is located in more than one
county;

(3) "Commission", the state housing development commission authorized
pursuant to sections 215.010 to 215.250;

(4) "Federal poverty level", the first poverty income guidelines
published in the calendar year by the United States Department of Health
and Human Services;

(5) "Low income", a household income which does not exceed two hundred
percent of the federal poverty level;

(6) "Project", the renovation of one or more properties on the urban core
of the city which have been determined to be of substandard quality or
condition and the subsequent sale of such property following renovation;

(7) "Renovate" or "renovation", the reconstruction, remodeling,
repairing, weatherizing, installation of energy conservation measures or
devices, and similar work necessary to make urban core city property
safe, sanitary and decent, and make such property meet the minimum
building code requirements and occupancy requirements of a city, as the
term city is defined in this section. (L. 1997 2d Ex. Sess. S.B. 1 § 9)

Effective 12-23-97

1. The workfare renovation project shall have the following
goals:

(1) To assist low-income individuals in learning a trade by providing
them with an opportunity to participate in the renovation of urban core
property; and

(2) To create tax-producing property for the participating cities out of
existing urban core city property.

2. The governing body of any city defined in section 215.345, by enacting
the appropriate ordinances, may participate in the workfare renovation
project by donating existing inner-city property to the project,
submitting a plan for renovation in the city to the commission and
establishing an agency to administer the project in such city pursuant to
any authority delegated to such agency by the commission. In any city not
within a county or any city with at least three hundred fifty thousand
inhabitants which is located in more than one county, the Missouri
housing development commission using available state resources shall
assign, either directly or through contract, staff to oversee each
respective city's project. In any city not within a county, such staff
shall annually report the progress of the project to the mayor and the
board of aldermen.

3. The commission may:

(1) Receive, hold and convey title to real estate on the workfare
renovation project carried out by the participating city and receive and
use for the purposes described in sections 215.340 to 215.355 any grants
or loans made by the commission pursuant to section 215.035 or section
215.050;

(2) Approve all proposed inner-city property for renovation;

(3) Approve the workers who will perform the renovation and
reconstruction work. The workers, to be selected from the local labor
force, shall be capable of performing the work for which they will be
hired, and shall be, as far as practicable, persons who are classified as
low income or receiving public assistance and who are indigenous to the
areas which are selected for renovation activity;

(4) Contract and be contracted with;

(5) Seek such legal and other professional and staff assistance deemed
necessary to carry out the purposes of sections 215.340 to 215.355;

(6) Sell the properties renovated, but such sales shall be subject to the
following requirements:

(a) Each property shall be sold only to a person who will be the actual
owner of record of the property and will actually occupy the property for
a period of not less than five years; and

(b) Each property shall be sold at a price which will allow the
commission to recover all costs incurred by it in renovating and selling
such property, including, but not limited to, the labor, materials and
other renovation expenses;

(7) Do all other things necessary to implement and administer the
residential renovation program authorized by sections 215.340 to 215.355,
including administering a revolving fund for continued funding and
operations of the program, and submitting an annual report on
expenditures made in the previous fiscal year by December first,
beginning in 1999, to the state auditor, the speaker of the house and the
president pro tem of the senate;

(8) Utilize all appropriate tax credit and wage diversion programs
offered through state departments to assist low-income residents of this
state in becoming self-sufficient through the workfare renovation project.

4. No rule or portion of a rule promulgated pursuant to the authority of
sections 215.340 to 215.355 shall become effective unless it has been
promulgated pursuant to the provisions of chapter 536, RSMo. The
provisions of this section and chapter 536, RSMo, are nonseverable and if
any of the powers vested with the general assembly pursuant to chapter
536, RSMo, including the ability to review, to delay the effective date,
or to disapprove and annul a rule or portion of a rule, are subsequently
held unconstitutional, then the purported grant of rulemaking authority
and any rule so proposed and contained in the order of rulemaking shall
be invalid and void. (L. 1997 2d Ex. Sess. S.B. 1 § 10, A.L. 1998 H.B.
1052 § 10)

Properties selected for renovation pursuant to the provisions of
sections 215.340 to 215.349 shall be located in those areas of the urban
core of the city which are in the greatest need of neighborhood
rehabilitation. Each administering agency shall make a plan or plans to
carry out the purposes of this section and such plans shall be available
to the public. In making the plan or plans required by this section, each
agency shall hold public hearings at reasonable times and places from
which to obtain community input in order to assess the impact of any
proposed plan on any neighborhood involved and to assist them in
determining which neighborhood or neighborhoods shall be given the
highest priority. The factors which the agency may consider, among all
other relevant considerations, are:

(1) The number of properties owned by the city in a neighborhood which
could be renovated; and

(2) The prior commitment of private developers to the area selected or
adjacent areas for purposes of assuring that purchasers of such property
can obtain financing and insurance. (L. 1997 2d Ex. Sess. S.B. 1 § 11)

Effective 12-23-97

State and federal funds appropriated to the department of
economic development and the department of social services for job
training shall be used to train eligible individuals participating in the
workfare renovation project pursuant to sections 215.340 to 215.355. (L.
1998 H.B. 1052 § 1)

The Missouri housing development commission shall, to the extent
possible and in conjunction with the participating cities, select
properties for renovation pursuant to the workfare renovation project
established in sections 215.340 to 215.355 so that diverse socioeconomic
backgrounds and circumstances are reflected in the renovated
neighborhoods and communities. (L. 1998 H.B. 1052 § 2)

The department of social services, the participating cities and
the Missouri housing development commission shall consult and collaborate
on issues involving funding and implementation of the workfare renovation
project established in sections 215.340 to 215.355 to help ensure the
success of the pilot project sites in meeting the objectives of the
workfare renovation project. (L. 1998 H.B. 1052 § 3)

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