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e. Deteriorated architectural features shall be repaired rather than replaced. If <br /> replacement is required, materials shall match the existing materials in <br /> composition, design, texture and other visual qualities. <br /> f. Sandblasting or high-pressure spraying that damage building materials shall not <br /> be undertaken. <br /> g. Contemporary designed additions shall not destroy the historical, architectural or <br /> cultural material of the existing building and shall be compatible with the size, <br /> scale, material and character of the property and the neighborhood. <br /> h. Any alterations that seek to create an appearance of an earlier period is <br /> discouraged. <br /> 5. Once the project is approved, a Certificate of Appropriateness is approved and a copy is <br /> forwarded to the owner and the Construction Inspection Division if necessary. <br /> APPLICATION FOR PROCESS FOR PROPERTIES OUTSIDE THE NEAR WEST <br /> HISTORIC DISTRICT <br /> 1. The owner of the property shall submit an application to the TIF Review Committee for <br /> an administrative review. <br /> 2. The application shall be accompanied with project description, photographs, scaled, <br /> drawings (including plans and elevations), and site plans as appropriate to adequately <br /> portray how the proposed changes will affect the existing structure. <br /> 3. If structural changes are being proposed, the drawings should be completed by a <br /> registered Architect. <br /> 4. In considering the application for approval, the TIF Review Committee shall be guided <br /> by the standards as listed in A 4 above. <br /> LOAN UNDERWRITING GUIDELINES <br /> This section briefly covers the requirements for underwriting deferred loans, that is, for <br /> determining if the project is an acceptable risk and for making a final decision on whether or not <br /> the loan is to be made. Policies set forth in this procedures manual will be used to make a final <br /> decision on a loan. <br /> There are two key principles that must be evaluated when underwriting loans to determine if the <br /> borrower is an acceptable risk: <br /> 1. Value of the Securitv- The property's After-Rehab Value. <br /> 2. Scope of the rehabilitation work - to proceed, work must be sound, and it must be <br /> adequate to extend the useful life of the property and to protect the value of the security <br /> for the term of the loan. <br /> CONTRACTING FOR REHABILITATION WORK FOR DEFERRED FORGIVABLE <br /> LOANS <br /> A. General <br /> 9 <br />