Department of Housing and Community Development - Appraisal Gap From Historic Redlining Financial Assistance Program - Qualified Properties

Summary

The bill broadens the definition of a “qualified property” for the state’s Appraisal Gap From Historic Redlining Financial Assistance Program. It now covers newly built or substantially rehabilitated homes in low‑income census tracts that are either in designated sustainable communities or meet department criteria for historically redlined or urban‑renewal neighborhoods, as long as they are sold to owner‑occupants at an affordable price. The change is intended to help more developers and homebuyers close appraisal gaps in these neighborhoods.

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