Section 25395.24 Of Article 8.5. Cleanup Loans And Environmental Assistance To Neighborhoods From California Health And Safety Code >> Division 20. >> Chapter 6.8. >> Article 8.5.
25395.24
. (a) The department may approve all, or part of, a loan
request pursuant to Section 25395.23, except the maximum amount of a
loan approved pursuant to Section 25395.23 shall not exceed two
million five hundred thousand dollars ($2,500,000).
(b) The department shall not approve a loan pursuant to Section
25395.23 if the total debt against the eligible property subject to
the release or threatened release of a hazardous material on which
the response action will be taken exceeds 80 percent of the estimated
value of the property after all necessary response actions are
complete.