New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 21 - COMMUNITY REVITALIZATION AND DEVELOPMENT
Part 3 - LENDING PROCEDURES OF THE MAIN STREET REVOLVING LOAN FUND
Section 21.21.3.11 - MSRL CONTRIBUTIONS - ELIGIBLE COSTS
Universal Citation: 12 NM Admin Code 21.21.3.11
Current through Register Vol. 35, No. 18, September 24, 2024
Costs which can be paid with MSRL funds to the loan pool are architectural, design, graphic design, construction and engineering documents and planning costs, inspection of work in progress, contracted restoration, rehabilitation, and repair and costs necessary to meet code compliance. The division or the lending institution with prior approval of the committee, may use the MSRL funds to the loan pool to pay costs associated with enforcement of the obligations of the borrower under the promissory note, mortgage or loan agreement.
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