Article II. Program Loans
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4.10.201 Loans for multifamily residential rehabilitation and construction.
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The city may make construction loans and mortgage loans both directly and through loans to lenders and participation purchases to finance residential construction, rehabilitation and acquisition; provided, that at least twenty percent of the dwelling units of any residence financed pursuant to the program are to be occupied by persons or families of low or moderate income. (Ord. 1505 NCS §1 (part), 1982.)