[§201H-33]  Powers and duties, generally. (a)  The corporation may develop fee simple or leasehold property, constructdwelling units thereon, including condominiums, planned units, and clusterdevelopments, and sell, lease, or rent or cause to be leased or rented, at thelowest possible price to qualified residents, nonprofit organizations, orgovernment agencies, with an eligible developer or in its own behalf:

(1)  Fully completed dwelling units with theappropriate interest in the land on which the dwelling unit is located;

(2)  Dwelling units that are substantially completeand habitable with the appropriate interest in the land on which the dwellingunit is located; or

(3)  The land with site improvements (other than thedwelling unit) either partially or fully developed.

(b)  The corporation shall require allapplicants for the purchase of dwelling units to make application thereforunder oath, and may require additional testimony or evidence under oath inconnection with any application.  The determination of any applicant'seligibility under this chapter by the corporation shall be conclusive as to allpersons thereafter dealing with the property; provided that the making of anyfalse statement knowingly by the applicant or other person to the corporationin connection with any application shall constitute perjury and be punishableas such.  The corporation shall establish a system to determine preferences bylot in the event that it receives more qualified applications than it hasdwelling units available.

(c)  The corporation shall adopt, pursuant tochapter 91, rules on health, safety, building, planning, zoning, and land usethat relate to the development, subdivision, and construction of dwelling unitsin housing projects in which the State, through the corporation, shallparticipate.  The rules shall not contravene any safety standards or tariffsapproved by the public utilities commission, and shall follow existing law asclosely as is consistent with the production of lower cost housing with standardsthat meet minimum requirements of good design, pleasant amenities, health,safety, and coordinated development.

When adopted, the rules shall have the forceand effect of law and shall supersede, for all housing projects in which theState, through the corporation, shall participate, all other inconsistent laws,ordinances, and rules relating to the use, zoning, planning, and development ofland, and the construction of dwelling units thereon.  The rules, beforebecoming effective, shall be presented to the legislative body of each countyin which they will be effective and the legislative body of any county maywithin forty-five days approve or disapprove, for that county, any or all ofthe rules by a majority vote of its members.  On the forty-sixth day aftersubmission, any rules not disapproved shall be deemed to have been approved bythe county.

(d)  The corporation may acquire, by eminentdomain, exchange, or negotiation, land or property required within theforeseeable future for the purposes of this chapter.  Whenever land with acompleted or substantially complete and habitable dwelling or dwellings thereonis acquired by exchange or negotiation, the exchange value or purchase pricefor each dwelling, including land, shall not exceed its appraised value. Landor property acquired in anticipation of future use may be leased for theinterim period by the corporation for such term and rent as it deemsappropriate.

(e)  Upon authorization by the legislature, thecorporation shall cause the State to issue general obligation bonds to finance:

(1)  Land acquisition;

(2)  The development and improvement of land;

(3)  The construction of dwelling units;

(4)  The purchase, lease, or rental of land anddwelling units by qualified residents, nonprofit organizations, or governmentagencies under this chapter;

(5)  Payment for any services contracted for underthis chapter, including profit or recompense paid to partners, and includingcommunity information and advocacy services deemed necessary by the corporationto provide for citizen participation in the development of housing projects,the implementation of this chapter, and the staffing of any citizen advisorycommittee the corporation may establish;

(6)  The cost of the repurchase of units under section201H‑47;

(7)  Loans for the rehabilitation and renovation ofexisting housing; and

(8)  Any other moneys required to accomplish thepurposes of this chapter.

(f)  The corporation shall do all other thingsnecessary and convenient to carry out the purposes of this chapter. [L 2006, c180, pt of §3]