The Senate Appropriations Committee on Wednesday approved a plan to use $200 million from a national mortgage settlement, with the largest chunks going to affordable housing programs.
The plan (SPB 7146) would funnel $70 million to the State Housing Initiative Program, which makes money available for such things as rehabilitating houses and helping people purchase homes.
Also, the plan would send $65 million to the State Apartment Incentive Loan program, which provides low-interest loans for affordable housing.
Other parts of the bill would send money to the court system to help handle a backlog of foreclosure cases and to legal-aid services for people facing foreclosure.
