Sec.8-218c-5. Eligible costs

(a) Eligible costs

The CHDC may provide loans, loan guarantees and interest subsidies for the construction or rehabilitation of projects from available state and private resources. Eligible costs which may be included are those rehabilitation costs necessary to bring the units into conformance with State Building Code standards, as determined by the CHDC and approved by the Commissioner. Eligible costs may also include, but are not limited to, the following: appraisal fees; building permits; costs of processing and closing the loan; and, architectural, engineering, or related professional services, if required.

(b) Appraisals

Fee appraisals must be made for all properties to be assisted and will be made on the after-rehabilitation value of the property.

(Effective May 23, 1986)