CA AB2709

Authorizes the California Housing Finance Agency to issue federal loan guarantees provided by the United States Department of Housing and Urban Development for low-income housing developments.

Allows the agency to make loan guarantees in addition to grants to nonprofit housing sponsors and local public entities for planning, constructing, rehabilitating, or managing housing developments.

Requires loan guarantee assistance from HUD be allocated in conjunction with awards of tax credits for low-income rental housing by the California Tax Credit Allocation Committee.

Adds loan guarantees to the agency's objectives for full utilization of federal subsidy assistance and expands the agency's powers to determine terms and conditions of loan guarantees.

Applies prevailing wage requirements to construction financed by agency loan guarantees, consistent with existing requirements for agency-financed construction.