In addition to such requirements and conditions as are established under the rules and regulations required to be prepared and approved under Section 10-173.08 of this Division, no deep well loan authorized herein shall be made unless: The property in question is a single-family, owner-occupied residential structure. The County Health Officer has issued a written notification to the property owner in question of the Health Officer's determination that said property owner is serviced by a well or other water supply which is, or is likely to become, contaminated. The property owner in question has made application to the County for a housing rehabilitation loan and/or grant made available pursuant to the provisions of Division 4A of this Subtitle for improvements including the drilling of a deep well and was determined to be ineligible for such loan and/or grant for reasons other than fund unavailability. The property owner in question has applied in good faith to at least one (1) private institution for a loan for the same purpose as loans made hereunder, and has had such loan application rejected.