Minn. R. agency 148, ch. 4900, RECEIVERSHIP REVOLVING LOAN FUND, pt. 4900.2903

Current through Register Vol. 49, No. 28, January 6, 2025

Part 4900.2903 - APPLICATION PROCESS

Subpart 1.With prequalification.

Applicants who intend to apply as prequalified receivers must follow the procedures in items A to E:

A. become prequalified as an eligible receiver according to the selection criteria in part 4900.2902, subparts 3 and 4, for a specified line of credit amount subject to fund availability and court appointment;

B. submit to the agency a project approval application that includes information on scope of work, estimate of funds needed, and evidence that funding needed for repairs has been secured;

C. the project must be approved by the agency according to the selection criteria under part 4900.2902, subpart 3;

D. submit a court order; and

E. complete and submit a loan commitment agreement to the agency.

Subp. 2.Without prequalification.

Applicants who do not intend to apply as prequalified receivers must follow the procedures in items A to E:

A. submit a loan application;

B. submit to the agency a project approval application that includes information on scope of work, estimate of funds needed, and evidence that funding needed for repairs has been secured;

C. the project and receiver must be approved by the agency according to the selection criteria under part 4900.2902;

D. submit a court order; and

E. complete and submit a loan commitment agreement to the agency.

Minn. R. agency 148, ch. 4900, RECEIVERSHIP REVOLVING LOAN FUND, pt. 4900.2903

15 SR 376

Statutory Authority: MS s 462A.06