SEC. 32.67. INTEREST RATES AND OTHER LOAN CHARGES.

   The interest rate and any other charges for a conventional RAP loan shall be established pursuant to the provisions of Sections 32.13 and 32.23, and may include:

   (a)   The interest charged the City and County on funds borrowed to carry out the provisions of this Chapter;

   (b)   An amount needed to provide for possible defaults on outstanding loans;

   (c)   An amount to cover the cost of servicing loan accounts;

   (d)   An amount to cover the cost of making hardship loans (as provided for in Article VIII); and

   (e)   An amount to cover the costs of issuing bonds.

(Added by Ord. 23-74, App. 1/9/74)

SEC. 32.68. VARIABLE INTEREST RATE.

   In connection with a conventional RAP loan, the loan agreement may provide for a variable interest rate. If the loan agreement does provide for a variable interest rate, the terms of the loan agreement and any change in the interest rate or other charges shall conform to the requirements of Sections 37917 of the Health and Safety Code of the State of California relating to the use of variable interest rates in connection with financing residential rehabilitation.

(Added by Ord. 23-74, App. 1/9/74)

SEC. 32.69. TENANT MOVING COSTS AND RIGHT OF FIRST REFUSAL.

   All conventional RAP loan agreements shall provide that, in the case of dwelling units which must be vacated because of residential rehabilitation to be performed on the structures where they are located:

   (a)   A tenant who must vacate a dwelling unit shall have the right of first refusal to occupy that unit at a rent adjusted in accordance with the San Francisco Administrative Code when rehabilitation of the property is completed;

   (b)   The property owner shall give each tenant affected written notice 30 days prior to the date the tenant must vacate of the following:

      (1)   That the tenant has the right to first refusal to reoccupy the unit vacated when rehabilitation of the property is completed;

      (2)   That relocation assistance may be available and that relocation information may be obtained from the Chief Administrative Officer, Room 289, City Hall, San Francisco; and

      (3)   That the tenant may be subject to certain protections under the Rent Ordinance and that information concerning such protection is available from the Rent Board, 170 Fell Street, Room 16, San Francisco.

   (c)   A copy of the notice specified in clause (b) shall be forwarded to the Rent Board.

(Amended by Ord. 112-83, App. 3/11/83)

SEC. 32.70. OPEN HOUSING.

   All conventional RAP loan agreements shall provide that so long as the loan or any portion of it is outstanding the property shall be open upon sale or rental of all or any portion thereof, to all persons regardless of race, color, religion, national origin or ancestry.

(Added by Ord. 23-74, App. 1/9/74)

SEC. 32.71. EQUAL EMPLOYMENT OPPORTUNITY.

   All conventional RAP loan agreements shall provide that all contracts and subcontracts let for residential rehabilitation financed under this Chapter are to be let without regard to the race, sex, marital status, color, religion, national origin or ancestry of the contractor or subcontractor. Further, all conventional RAP loan agreements shall provide that any contractor or subcontractor engaged in residential rehabilitation financed under this Chapter must agree to provide equal opportunity for employment without regard to race, sex, marital status, color, religion, national origin or ancestry.

(Added by Ord. 23-74, App. 1/9/74)