Laserfiche WebLink
}{istor~cal Rehabilitation Financing Program <br />-Page Two <br /> <br /> 5. The Proponent shall submit rehabilitation <br />plans to the Administrative Officer, who shall coordinate <br />review of said plans by the Director of Building Safety, the <br />Planning Director, the Fire Chief, and the Director of <br />Public Works, for the purpose of determining whether the <br />proposal complies with the laws and regulations of the City <br />of Santa Aha, or such conditions and modifications as are <br />necessary to bring the proposal into compliance. <br /> <br /> 6. The proponent shall submit rehabilitation <br />plans to a locally appointed architectural review board to <br />achieve rehabilitation in conformance with the Secretary of <br />the Interior standards for Rehabilitation of Historic <br />Structures. <br /> <br /> 7. The Administrative Officer shall prepare a <br />recommendation with respect to the granting a long-term, <br />low-interest loan to the proponent, based upon the availability <br />of funding, the relative priority of the proposed rehabilitation <br />project, and the assurance of future repayment of the loan. <br />In formulating his recommendations, the Administrative <br />Officer may require the proponent to furnish him with any <br />and all information necessary to assure compliance with the <br />limitations set forth in Section 8, and such other terms and <br />conditions as are necessary or appropriate. <br /> <br /> 8. If the Administrative Officer determines that <br />the loan should be granted, he shall prepare a loan agreement <br />with the proponent and submit the same, together with his <br />recommendations, to the City Council for approval or disapproval. <br />In accordance with the requirements of the Marks Historical <br />Rehabilitation Act the loan agreement shall be subject to <br />the following limitations: <br /> <br />(a) Outstanding loans on the property to be <br />rehabilitated, including the amount of the <br />loans for rehabilitation, shall not exceed 80 <br />percent of the anticipated after-rehabilitation <br />value of the property. <br /> <br />(b) The maximum repayment period for historical <br />rehabilitation loans shall be 40 years or <br />four-fifths of the economic life of the <br />property, whichever is less. <br /> <br />(c) No less than 90% of any loan for historical <br />rehabilitation shall be used for historical <br />rehabilitation, as defined in Section 37602(c) <br />of the Health and Safety Code of the State of <br />California. <br /> <br />EXHIBIT B <br /> <br /> <br />