Restrictions on the use of funds.

CFR · 2024-01-01 · US · Title 7

(a) (1) Housing intended to serve temporary and transient residents, with the exception of housing to serve migrant farm workers in accordance with § 3560.554; (2) Special care facilities or institutional-type homes; (3) Facilities which are not in compliance with the design requirements specified in § 3560.60; (4) Any costs associated with space in a housing project that is leased for commercial use or any commercial facilities except essential service-type facilities when otherwise not conveniently available; (5) Specialized equipment for training and therapy; (6) Operating capital for a central dining facility or any items which do not become affixed to the real estate security with the exception of household furnishings for farm labor housing units financed under sections 514 and 516; (7) Compensation to a loan applicant for value of land contributed in excess of the equity contribution requirements in § 3560.63(c); (8) Refinancing of an applicant's debt except when the debt involves interim financing or when refinancing is necessary to obtain a release of an existing lien on land owned by a nonprofit organization; (9) Payment of any fee, charge, or commission to a broker or anyone else as a developer's fee or for referral of a prospective loan applicant or solicitation of a loan; (10) Payment to any officer, director, trustee, stockholder, member, or agent of an applicant; or (11) Purchasing land for a site in excess of what is needed, except when: (i) The applicant cann

official document · source cfr-2024 · id 7:§ 3560.54