Section 10-B3612. LOANS TO SPONSORS: RENTAL HOUSING

 

3612.1As set forth in § 302 of the Act (D.C. Official Code § 42-2703.02(a)), the Agency may make or participate in making construction, permanent, mezzanine, and interim loan financing available to sponsors for the development of rental Housing projects for Eligible persons.

 

3612.2Financing under § 302 of the Act (D.C. Official Code § 42-2703.02(a)) shall be on whatever terms and conditions the Agency determines to be appropriate in the circumstances. The terms and conditions of financing shall be established in the Agency procedures and guidelines.

 

3612.3The terms and conditions of financing may include, but shall not be limited to the following:

 

(a)Interest rates;

 

(b)Repayment terms;

 

(c)Fees, charges, and other conditions of originating and servicing loans;

 

(d)Collateral and other security arrangements;

 

(e)Maximum loan term;

 

(f)Debt service requirements;

 

(g)Pre-payment penalties; and

 

(h)Refinancing terms.

 

 

authority

Section 306 of the District of Columbia Housing Finance Agency Act of 1979, effective March 3, 1979, (D.C. Law 2-135; D.C. Official Code § 42-2703.06 (2012 Repl.)) (Act), and 10-B DCMR § 3508.1.

source

Final Rulemaking published at 28 DCR 4544, 4556 (October 23, 1981); as amended by Final Rulemaking published at 61 DCR 4156 (April 25, 2014).