N.M. Admin. Code § 12.21.3.18

Current through Register Vol. 35, No. 23, December 10, 2024

Section 12.21.3.18 - MSRL LOAN AMOUNT AND REPAYMENT BY PROPERTY OWNER

A. The amount of MSRL funds contributed to the loan pool shall not exceed $75,000 for any one project except if granted by a waiver of the committee at a public meeting.

B. The property owner of an approved project will repay the loan or loan subsidy in monthly installments. Payment on the interest and principal shall be in accordance with Subparagraph (c) of Paragraph (16) of Subsection C of 12.21.3.13 NMAC of these regulations.

12.21.3.18 NMAC - N, 12/15/08