175-6-01 Development Loans.

(A) Development loans shall be made to sponsors or private developers.

(B) A development loan shall be awarded for an amount determined by agency underwriting guidelines.

(C) Development loans shall be used for the construction and financing of the project.

(D) The interest rate and terms of the development loans shall be determined by the agency.

(E) The agency may charge fees for application, processing, extensions, closings, and other fees deemed reasonable by the agency.

HISTORY: Eff 12-29-87; 3-23-04

Rule promulgated under: RC 119.03

Rule authorized by: RC 175.02

Rule amplifies: RC 175.04, 175.06

RC 119.032 Review Date: 3/23/09