Cal. Code Regs. tit. 25 § 7743

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

Section 7743 - Eligible Costs

CalHome funds in support of a development project shall be used only for the following costs:

(a) purchase of real property;

(b) building permits and state and local fees;

(c) predevelopment costs directly related to the single-family housing development;

(d) onsite improvements related to single-family housing development (within the boundaries of the subdivision or individual parcels for scattered site developments);

(e) carrying costs during construction, including insurance, construction financing fees and interest, taxes, and any other expenses necessary to hold the property while the single-family housing development is under construction;

(f) escrow, title insurance, recording and other related costs;

(g) costs for items intended to assure the completion of construction, such as contractor bond premiums;

(h) environmental hazard reports, surveys, and investigations; and

(i) payoff of bridge loan financing for site acquisition which has a term of thirty-six (36) months or less.

Cal. Code Regs. Tit. 25, § 7743

1. New section filed 9-29-2003; operative 9-29-2003 pursuant to Government Code section 11343.4 (Register 2003, No. 40).

Note: Authority cited: Sections 50406(n) and 50650.2, Health and Safety Code. Reference: Section 50650.3(b), Health and Safety Code.

1. New section filed 9-29-2003; operative 9-29-2003 pursuant to Government Code section 11343.4 (Register 2003, No. 40).