§ 120.871. Leasing part of Project Property to another business.
43 words·~1 min read·
/us/cfr/t13/s§ 120.871·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The costs of interior finishing of space to be leased out to another business are not eligible Project costs.
(b)Third-party loan proceeds used to renovate the leased space do not count towards the 504 first mortgage requirement or the Borrower's contribution.