Section 22-B3607. PENALTY

 

3607.1A facility which receives a loan under this program is expected to remain in operation as a licensed CRF throughout the term of repayment and for a minimum of five (5) years thereafter.

 

3607.2In the event that unforeseen circumstances force a facility to close, the balance of the loan shall become due within five (5) months of the facility closing.

 

3607.3The Mayor may, at his or her discretion, impose a penalty of up to twenty-five percent (25%) of the original loan amount if a facility closes without good reason before the five (5) year period after repayment has expired.

 

source

Final Rulemaking Published at 27 DCR 2932 (July 4, 1980), incorporating text of Proposed Rulemaking published at 27 DCR 2076 (May 16, 1980).