DE SB150

Creates the Affordable Rental Housing Program (ARHP) as a revolving fund within Delaware's Housing Development Fund to support affordable rental housing for very low-, low-, and moderate-income families, elderly individuals, and individuals with disabilities

Provides long-term loans for purchasing buildings or land, construction or renovation of buildings, and necessary facilities like water and waste disposal systems

Loans are amortized over a maximum of 50 years with payment terms not exceeding 30 years, and DSHA must provide interest credit to subsidize loan interest rates down to 1%

Tenant rent is capped at the lesser of basic rent or 30% of the tenant's adjusted income, and housing projects must accept all tenant-based rent subsidies

Housing projects must have 2 or more units per building and comply with applicable building codes, the Model Energy Code, and HUD physical standards