Cal. Code Regs. tit. 25 § 8116

Current through Register 2024 Notice Reg. No. 50, December 13, 2024

Section 8116 - Maximum Loan Amounts

The loan amount is limited to the total amount of eligible costs required, when considered with other available financing and assistance, in order to achieve all of the following:

(a) to enable the development and construction of the rental housing development;

(b) to ensure that rents for assisted units are in accordance with program requirements;

(c) to operate in compliance with all other program requirements; and

(d) to allow a debt service coverage ratio in an amount sufficient to satisfy the requirements of other lenders providing financing for the rental housing development, but not to exceed 115 percent, except as otherwise required by law.

Cal. Code Regs. Tit. 25, § 8116

1. New section filed 12-14-90 as an emergency; operative 12-14-90 (Register 91, No. 11). A Certificate of Compliance must be transmitted to OAL by 4-15-91 or emergency language will be repealed by operation of law on the following day.
2. Repealed by operation of law on 4-16-91.
3. New section filed 7-19-91 as an emergency; operative 7-19-91 (Register 92, No. 16). A Certificate of Compliance must be transmitted to OAL 11-6-91 or emergency language will be repealed by operation of law on the following day.
4. New section refiled 11-15-91 as an emergency; operative 11-15-91 (Register 92, No. 16). A Certificate of Compliance must be transmitted to OAL 3-16-92 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 11-15-91 order transmitted to OAL 12-12-91 and filed 1-13-92 (Register 92, No. 16).

Note: Authority cited: Sections 50406(n), 50884 and 50895, Health and Safety Code. Reference: Sections 50880 and 50893, Health and Safety Code.