175-6-01 Development loans.

(A) Development loans shall be made to sponsors or private developers on forms prescribed by the agency and based on guidelines issued by the agency.

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

(C) Development loans shall be used for the development 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 reviewing the application, processing the application, any extensions of the loans, and the closing of the loans, and for any other fee deemed reasonable by the agency.

Effective: 06/08/2009
R.C. 119.032 review dates: 03/19/2009 and 06/08/2014
Promulgated Under: 119.03
Statutory Authority: 175.05
Rule Amplifies: 175.06
Prior Effective Dates: 12/29/1987, 3/23/2004