Ill. Admin. Code tit. 47 § 365.603

Current through Register Vol. 48, No. 45, November 8, 2024
Section 365.603 - Recapture of Assistance

Within each set of Loan documents the Authority shall establish requirements regarding use, occupancy and rent levels as required by the Act, the Affordable Housing Act and this Part. If the Owner violates any of the provisions of the agreement or agreements containing such requirements, such violation shall be deemed a default under the Loan documents whether or not expressly so stated therein.

Ill. Admin. Code tit. 47, § 365.603