Pennsylvania Code
Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT
Part III - Business Financing
Subpart C - Loans
Chapter 73 - PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY
Subchapter B - STATEMENT OF POLICY
MISCELLANEOUS
Section 73.313 - Loss sharing agreement
Universal Citation: 12 PA Code ยง 73.313
Current through Register Vol. 54, No. 44, November 2, 2024
Following certification of an industrial development agency by the PIDA, the PDIA may enter into an agreement with the agency for the sharing of losses between the PDIA and the agency on industrial development projects. A loss sharing agreement entered into would:
(1) Be subject to the approval of the PIDA's counsel.
(2) Not apply to industrial park or multitenancy projects, unless an investor-developer is involved in the project.
(3) Not apply in the event of losses caused by or attributable to the agency.
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