Compilation of Rules and Regulations of the State of Georgia
Department 110 - RULES OF GEORGIA DEPARTMENT OF COMMUNITY AFFAIRS
Chapter 110-19 - DOWNTOWN DEVELOPMENT REVOLVING LOAN FUND (DD RLF)
Subject 110-19-1 - DOWNTOWN DEVELOPMENT REVOLVING LOAN FUND (DD RLF)
Rule 110-19-1-.03 - Fund Availability

Universal Citation: GA Rules and Regs r 110-19-1-.03

Current through Rules and Regulations filed through September 23, 2024

(1) Loan funds available to the Department for this program will in turn be made available for application throughout the fiscal year and will be reviewed based upon the criteria provided in rule section 110-19-1-.05.

(2) The Department's concentration of assets (loans) in any one community is limited to 15% of the Downtown Development Revolving Loan Fund's total assets. However, under certain circumstances the Commissioner of the Department may authorize a waiver of this policy; provided that the concentration of assets in the affected community does not exceed 20% of the Downtown Development Revolving Loan Fund's total assets. The Department also reserves the right to limit the amount of funding for certain business types.

(3) In the event of a natural disaster or other extraordinary event, the Commissioner of the Department may authorize a waiver of the concentration of assets policy.

O.C.G.A.§ 50-8-8.

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