Upon the signing of the Loan Agreement, the applicant shall have a period of 90 days within which to take out a building permit. Applicant shall commence construction within 90 days of approval date of building permit. Extensions, if warranted, may be granted at the discretion of the agency staff. Agency will monitor construction to ensure that the work is performed according to the approved application and plans. No changes to the work will be permitted without the written consent of the agency.
Interest is charged at three percent per year with a five-year amortization period.
The project must be in compliance with existing zoning and design requirements. All signs for the premises must be consistent with zoning limitations on size, placement, and materials. Multi-tenant sites must submit sign programs for the entire building. Properties on streets subject to the Core Area Combining District Overlay requirements for sun and rain protection at sidewalk frontage must provide awnings or similar improvements, where feasible. Eligible improvements include changes to building elevations and frontage, signs, awnings and trellises, planter boxes, and similar exterior improvements.