Section 7220 - Grant or Loan Cancellation(a) After notice has been given to the recipient and other parties with an interest in the housing development, an award of Program funds may be canceled. Cancellation may occur after an award has been approved but before any disbursements have been made or after partial disbursement of the Program funds, if the following occur: (1) The objectives for which the award was made cannot, for any reason, be met; or(2) Alternative sources of matching financing cannot be obtained by the recipient; or(3) The recipient has not abided by the conditions of the conditional commitment or other agreements executed with the Department.(4) The recipient has failed to execute required agreements or to provide necessary documentation within a reasonable time period prescribed by the Department.Cal. Code Regs. Tit. 25, § 7220
1. Repealer of former Section 7220 and renumbering and amendment of Section 7222 to Section 7220 filed 2-10-83; designated effective 3-4-83 pursuant to Government Code Section 11346.2(d) (Register 83, No. 7).
2. Amendment of section heading and section filed 4-2-2008; operative 5-2-2008 (Register 2008, No. 14). Note: Authority cited: Sections 50402 and 50406, Health and Safety Code. Reference: Section 50517.5, Health and Safety Code.
1. Repealer of former Section 7220 and renumbering and amendment of Section 7222 to Section 7220 filed 2-10-83; designated effective 3-4-83 pursuant to Government Code Section 11346.2(d) (Register 83, No. 7).
2. Amendment of section heading and section filed 4-2-2008; operative 5-2-2008 (Register 2008, No. 14).