CalHome funds in support of a development project shall be used only for the following costs:
(a) purchase of real property;
(b) building permits and state and local fees;
(c) predevelopment costs directly related to the single-family housing development;
(d) onsite improvements related to single-family housing development (within the boundaries of the subdivision or individual parcels for scattered site developments);
(e) carrying costs during construction, including insurance, construction financing fees and interest, taxes, and any other expenses necessary to hold the property while the single-family housing development is under construction;
(f) escrow, title insurance, recording and other related costs;
(g) costs for items intended to assure the completion of construction, such as contractor bond premiums;
(h) environmental hazard reports, surveys, and investigations; and
(i) payoff of bridge loan financing for site acquisition which has a term of thirty-six (36) months or less.
Credits
Note: Authority cited: Sections 50406(n) and 50650.2, Health and Safety Code. Reference: Section 50650.3(b), Health and Safety Code.
1. New section filed 9-29-2003; operative 9-29-2003 pursuant to Government Code section 11343.4 (Register 2003, No. 40).
This database is current through 6/21/24 Register 2024, No. 25.
Cal. Admin. Code tit. 25, § 7743, 25 CA ADC § 7743
