Regulation .06 Eligible Uses.
Regulation .06 Eligible Uses.LinkCopy Citation
The proceeds of a mortgage loan may be used to finance:
A.
Purchase of a newly constructed building to provide a group home;
B.
Permanent long-term mortgage financing, including refinancing;
C.
Purchase of an existing building to provide a group home;
D.
Modifications to a building purchased with a loan if the modification improves, repairs, renovates, or rehabilitates the building to:
(1)
Make it suitable as a group home; or
(2)
Eliminate housing, building, fire, safety, health, or other code violations;
E.
Closing costs associated with site acquisition, purchase, or refinance of a group home;
F.
Engineering, legal, title, survey, or architectural fees associated with the rehabilitation, purchase, or modification of a group home;
G.
Costs associated with site preparation and evaluation including soil borings, environmental review reports, and testing for environmental hazards;
H.
A refinance of an existing group home;
I.
Construction costs for a new building to be used as a group home; or
J.
Other development costs considered reasonable by the Department.