Government Grants, Loans: Rural Housing Site Loans and Self_Help Housing Land Development Loans (Uses, Restrictions)

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Rural Housing Site Loans and Self_Help Housing Land Development Loans

USES AND USE RESTRICTIONS
		For the purchase and development of adequate sites, including necessary equipment which becomes a permanent part of the development; for water and sewer facilities if not avail- able; payment of necessary engineering, legal fees, and closing costs; for needed landscaping and other necessary facilities related to buildings such as walks, parking areas, and driveways. Restrictions: loan limitation of $200,000 without national office approval; loan funds may not be used for refinancing of debts, payment of any fee, or com- mission to any broker, negotiator, or other person for the referral of a prospective applicant or solicitation of a loan; no loan funds will be used to pay operating costs or expenses of administration other than actual cash cost of incidental administrative expenses if funds to pay those expenses are not otherwise available. Repayment of loan is expected within two years.

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