D.C. Mun. Regs. tit. 22, r. 22-B3607
Current through Register Vol. 71, No. 49, December 6, 2024
A facility which receives a loan under this program is expected to remain in operation as a licensed CRF throughout the term of repayment and for a minimum of five (5) years thereafter.
In the event that unforeseen circumstances force a facility to close, the balance of the loan shall become due within five (5) months of the facility closing.
The Mayor may, at his or her discretion, impose a penalty of up to twenty-five percent (25%) of the original loan amount if a facility closes without good reason before the five (5) year period after repayment has expired.
D.C. Mun. Regs. tit. 22, r. 22-B3607