SEC. 50.21. ELIGIBILITY FOR LOANS.

Each arts organization working in a facility in San Francisco which has been or is subject to being cited for code violations or incipient code violations or that intends to acquire or renovate a facility in San Francisco shall be eligible for a loan under this Chapter. Loans under this Chapter shall be available only to arts organizations with annual budgets of less than $2,500,000, and only for the repair and maintenance or acquisition of facilities containing 50 to 600 seats. Each arts organization shall apply for a loan in compliance with all applicable rules and regulations as

promulgated by the Director; shall demonstrate to the satisfaction of the Director the ability to repay such a loan, and shall meet all applicable requirements as set forth in this Chapter.

Priority for loans shall be given to arts organizations seeking funds to correct life safety code violations in the facility where they are presently working or acquisitions necessitated by life safety code defects and to arts organizations that have demonstrated compliance with repayment obligations on prior loans from the City or other lending institutions. It is the intent of the Board of Supervisors that the maximum degree of cultural and ethnic diversity be achieved among loan recipients, to insure that minority, disabled, lesbian/gay and other arts organizations may share in the benefits of this program. In administering this loan program, the Director shall give priority to this intent and shall insure that sufficient funds are available to achieve this purpose.

(Added by Ord. 69-84, App. 2/15/84; amended by Ord. 160-91, App. 4/25/91; Ord. 114-06, File No. 051519, App. 6/1/2006)