Chapter 32 — RESIDENTIAL REHABILITATION LOAN PROGRAM›Article VII — TERMS OF CONVENTIONAL RAP LOANS
SEC. 32.61. MAXIMUM REPAYMENT PERIOD FOR LOAN; INITIATION OF PAYMENTS AFTER…
San Francisco Administrative Code · edición 2025 · actualizado 2026-07-08 · San Francisco
Esta sección aún no está traducida y se muestra en inglés.
(a) The maximum repayment period for a conventional RAP loan shall be 20 years or ¾ of the economic life of the property, whichever is less.
(b) Subject to budgetary and fiscal limitations, payments on a conventional RAP loan shall not be required to commence prior to completion of the improvements for which such loan is made; provided that payments shall begin no later than six months after an initial disbursement from proceeds of the loan. The monthly payment due under the loan shall be adjusted to insure repayment of the principal and interest due on the loan within the time required by paragraph (a) of this Section.
(Added by Ord. 23-74, App. 1/9/74)