Synopsis As Introduced Amends the Housing Authorities Act. Provides that a Housing Authority in any municipality having a population in excess of 1,000,000 shall be authorized to participate as a partner or member of a partnership, limited liability company, joint venture, or other form of a business arrangement with a for-profit developer and shall have all powers deemed necessary and appropriate to engage in the rehabilitation and development or ownership, or both development and ownership, of low-income and mixed-income rental and for-sale housing as a partner or member of a partnership, limited liability company, or joint venture. Effective immediately.
House Floor Amendment No. 1 Authorizes a housing authority in a municipality over 1,000,000 to participate in a business arrangement with a non-profit developer (as well as with a for-profit developer).