§ 66.3. PROGRAM REGULATIONS.

The Director shall publish from time to time Program Regulations for the Program that are necessary and appropriate to effectively and efficiently implement the Program, as authorized by the Act and in accordance with this Chapter 66. The Director shall publish such Program Regulations on the website of MOHCD and in such other public places as the Director shall deem appropriate, and provide the Program Regulations to persons requesting a written copy thereof. The Program Regulations shall address matters including, but not limited to, Program and Fund administration, underwriting criteria, loan processing and documentation, and loan enforcement. The Program Regulations shall also cover the use of Loan proceeds for the costs of the acquisition, improvement, and/or rehabilitation of “at risk” multi-unit residential buildings, as further provided herein. Such Program Regulations and any material amendments thereto shall be subject to review and approval by the Loan Committee, and shall be reported to the General Obligation Bond Oversight Committee at the first meeting of that committee following the effective date of such Program Regulations or amendments.

(Added as Sec. 66.2 by Ord. 1-93, App. 1/7/93; amended by Ord. 1-01, File No. 001968, App. 1/12/2001; redesignated and amended by Ord. , File No. 180890, App. 11/9/2018, Eff. 12/10/2018)

(Former Sec. 66.3 added by Ord. 1-93, App. 1/7/93; amended by Ord. 1-01, File No. 001968, App. 1/12/2001; Ord. 122-06, File No. 060386, App. 6/14/2006; redesignated as Sec. 66.4 and amended by Ord. , File No. 180890, App. 11/9/2018, Eff. 12/10/2018)