Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
Tenants must include a copy of the lease agreement and an affidavit from the property owner <br />allowing them to make the proposed building and site modifications. Tenants will also be <br />required to verify that they have at least afive-year lease on the property. The property owner <br />will be required to co-sign the Owner Participation Agreement. <br />Financing <br />All ICG funding will be awarded as a reimbursement upon project completion, although <br />applicable Agreement documents can be executed prior to initiation of the project. <br />Funds will be awarded in the form of a forgivable loan. Loans are structured as an interest <br />bearing, forgivable one-year loan. The improvement project will be evaluated after one year by <br />Agency staff to determine if it continues to meet the terms of the Agreement with the Agency. If <br />no default occurs within the term of the Agreement, the loan is forgiven and the Participant will <br />have no further obligation. If a default occurs as defined in the Agreement, the loan becomes due <br />and payable immediately. Agency staff has the discretion to wank with the Participant to cure the <br />default and structure a repayment schedule. <br />Upon notice of a change in ownership of the Project during the term of the Agreement, the loan <br />maybe assigned to the new participant at the sole discretion of Agency staff. <br />Prevailing Wade <br />To the extent applicable to the project, all contractors and agents hired by the Participant shall <br />comply with California Labor Code Section 1720 et seq. ("Prevailing Wage Laws") and shall be <br />responsible for carrying out the requirements of the law. Participants in the ICG Program are <br />solely responsible for determining whether Prevailing Wage Laws apply to the project. <br />2 <br />