California Code of Regulations
Title 14 - Natural Resources
Division 4 - Division of Boating and Waterways
Chapter 1 - Division of Boating and Waterways
Article 1.4 - Recreational Marina Loan Regulations
Section 5173 - Application Review
Universal Citation: 14 CA Code of Regs 5173
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) The borrower's formal application will be judged as to the following principal considerations:
(1) Engineering feasibility, including a determination as to whether or not the project can be developed within the total amount of funds to be made available.
(2) Financial feasibility, including an analysis of the availability of capital to finance construction to completion, market analysis or market survey to determine the financial feasibility of the project, anticipated berthing and other charges used in estimating revenues, and evaluation of the sufficiency of revenues to cover annual costs on a year-by-year basis, including the amortization of the applied-for loan.
(b) Upon request of the applicant, the department may issue a letter of intent, explaining the availability of State funds, the status of the loan application and other requirements necessary for the approval of the loan.
1. New section filed 7-2-2001; operative 8-1-2001 (Register 2001, No. 27).
Note: Authority cited: Sections 63.9(e) and 76.8, Harbors and Navigation Code. Reference: Sections 76.3, 76.4, 76.5 and 85.2, Harbors and Navigation Code.
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