A1787 — Provides that upon sale of a limited-profit housing company project, reserve and surplus funds must be held in escrow and dedicated to major capital improvements

A1787 — Provides that upon sale of a limited-profit housing company project, reserve and surplus funds must be held in escrow and dedicated to major capital improvements · Informed CitizenryThis bill amends the private housing finance law to establish requirements for the sale or conveyance of a limited-profit housing project to an entity other than a company. Under the proposed law,…Open in Informed Citizenry