Each owner of property located within a neighborhood conservation area is eligible for a standard RAP loan, subject to loan fund availability, provided the owner demonstrates to the satisfaction of the Loan Committee the ability to repay such a loan, applies for the loan within a time period to be designated by the City Manager and meets the other requirements of this title. A standard RAP loan may be made to investor/owners and owner-occupants having an income above 80% of median income for Tulare County. The property owner shall agree to all conditions of the loan agreement as a prerequisite to obtaining a loan. No elective officer of the state or any of its subdivisions shall be eligible to receive a loan under the provisions of this title.
(1995 Code, § 11.24.010) (Ord. 97-1800, passed - -1997)