Section 8016 - Approval of Projects and Commitment of Funds(a) Program staff shall review applications for loan commitments and prepare recommendations based on the above factors. Applicants shall be notified of the staff recommendation and of the date and time that the committee will consider their applications.(b) The committee shall evaluate applications and make recommendations to the director pursuant to Section 6904 of this Part.(c) The director shall review the committee recommendations and approve, approve with amendments, or disapprove the applications. The director's decision shall be final. Written notification of the approval of an application shall constitute a conditional loan commitment from the fund.(d) The department shall inform the applicant in writing of the director's decision. An approval shall set forth the terms and conditions, if any, placed on the approval.Cal. Code Regs. Tit. 25, § 8016
Note: Authority cited: Sections 50406(n) and 50786(a), Health and Safety Code. Reference: Sections 50406, 50406.2 and 50786, Health and Safety Code.