Section 37627 Of Chapter 2. Powers And Procedures From California Health And Safety Code >> Division 24. >> Part 10. >> Chapter 2.
37627
. The historical rehabilitation financing program may include:
(1) A requirement that rehabilitation financed by the program
shall meet standards higher than the applicable state or local
standards for rehabilitation of properties, including, but not
limited to, design guidelines, standards of aesthetics, use of
materials, integrity of design, or historical authenticity.
(2) A provision for limitation of the degree or kind of historical
rehabilitation eligible for financing, including, but not limited
to, rehabilitation of parapets or dangerous parts of facades of
historic properties.
(3) A requirement that the local agency receive a legally binding
assurance that the property rehabilitated with financing from this
program shall be preserved, subject to reasonable conditions. The
form and conditions of such assurance shall be specified in a
historical rehabilitation financing program.
(4) A capital outlay program for the historical rehabilitation
area which identifies the public improvements needed to support
private rehabilitation efforts. Such improvements may include street
improvements, street closures, street fixtures, and landscaping.
(5) If the program is likely to result in anticipated increases in
rents or other housing costs which would cause displacement of
residents of historic properties, or is likely to result in residents
paying a disproportionately large percentage of their incomes for
housing, a commitment that the local agency shall make efforts to
prevent displacement of residents. Such efforts shall include, but
are not limited to, utilization of federal, state, or local funding
programs which may be available for rent subsidies.
(6) A provision for control of rents if controls are included in
order to prevent precipitous increases in rent which the
rehabilitation would engender. Such provision may include a
requirement that the borrower agree during the term of the loan not
to raise the rental amount over an amount which the local agency
establishes as a fair rate of return for similar investments and will
allow for increases that are reasonably necessary to provide for
proper maintenance of the property.