67-6216. AUTHORITY TO MAKE LOANS. The association is authorized to make loans to housing sponsors for the necessary expenses, prior to construction, in planning, and obtaining financing for, the rehabilitation or construction of housing projects. Such loans shall be made without interest and shall not exceed eighty percent (80%) of the reasonable costs expected to be incurred in planning, and in obtaining financing for, such housing prior to the availability of financing, including, but not limited to preliminary surveys and analyses of market needs, preliminary site engineering and architectural fees, site acquisition, application and mortgage commitment fees, and construction loan fees and discounts. The association shall require repayment of loans made under this section, under such terms and conditions as it may require, upon completion of the project or sooner, and may cancel any part or all of a loan if it determines that it cannot be recovered from the proceeds of any permanent loan made to finance the rehabilitation or construction of the housing project.
History:
[67-6216, added 1972, ch. 324, sec. 16, p. 789; am. 1974, ch. 104, sec. 26, p. 1210; am. 1996, ch. 253, sec. 21, p. 825.]
Structure Idaho Code
Title 67 - STATE GOVERNMENT AND STATE AFFAIRS
Chapter 62 - IDAHO HOUSING AND FINANCE ASSOCIATION
Section 67-6202 - IDAHO HOUSING AND FINANCE ASSOCIATION CREATED.
Section 67-6203 - COMMISSIONERS — CHAIRMAN — APPOINTMENTS.
Section 67-6204 - VICE-CHAIRMAN, EXECUTIVE DIRECTOR AND OTHER PERSONNEL — APPOINTMENTS — QUORUM.
Section 67-6205 - DEFINITIONS.
Section 67-6206 - POWERS OF ASSOCIATION.
Section 67-6207A - ADDITIONAL POWERS.
Section 67-6207B - MORTGAGE LOANS — RULES — PURCHASE.
Section 67-6207C - HOUSING SPONSORSHIP.
Section 67-6207D - PERIODIC EXAMINATION OF INCOME OF PERSONS RESIDING IN HOUSING PROJECTS.
Section 67-6208 - TAX EXEMPT STATUS.
Section 67-6209 - HOUSING PROJECTS SUBJECTED TO ORDINANCES AND REGULATIONS.
Section 67-6210 - POWER TO ISSUE BONDS.
Section 67-6211 - ADDITIONAL DEFINITIONS AND CAPITAL RESERVE FUND PROCEDURES.
Section 67-6212 - REFUNDING OF OBLIGATIONS.
Section 67-6213 - DEPOSIT OF FUNDS.
Section 67-6214 - RIGHTS OF BONDHOLDER.
Section 67-6215 - RIGHTS NOT TO BE IMPAIRED BY STATE.
Section 67-6215A - REMEDIES OF BONDHOLDERS.
Section 67-6215B - LEGAL INVESTMENTS.
Section 67-6216 - AUTHORITY TO MAKE LOANS.
Section 67-6218 - FEASIBILITY.
Section 67-6219 - TECHNICAL ASSISTANCE.
Section 67-6220 - AUDITS — ANNUAL REPORTS.
Section 67-6221 - CONFLICT OF INTEREST.
Section 67-6222 - EXEMPTION OF REAL PROPERTY OF ASSOCIATION FROM LEVY AND SALE BY EXECUTION.
Section 67-6223A - DONATIONS TO HOUSING AND FINANCE ASSOCIATION.
Section 67-6224 - CONSTRUCTION OF ACT.
Section 67-6224A - LEGISLATIVE CONSTRUCTION.
Section 67-6225 - CONSTITUTIONALITY.