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5. Rehabilitation must correct all code violations. <br /> B. Home Owner Facade Program <br /> 1. Available for owner-occupied properties on the west side North Main, from <br /> the 900 block to the 1900 block. <br /> 2. Loans available up to $20,000.00 for exterior code ite�3�s only. <br /> 3. Fifty (50) per cent of the loan will be forgiven when the following conditions <br /> exists: ! <br /> i. Property to be maintained to code for the duration of the lien. <br /> ii. The owner must occupy the property for five years after the completion of <br /> the rehabilitation. <br /> iii. No conversion to rental units, condominiums or any type of cooperative <br /> ownersh�p for the duration of the lien. <br /> 4. Fifty (50) per cent of the loan will be deferred until the �wner vacates the <br /> premises, transfers title or destruction of the property <br /> III. ACQUISITION/REHABILITATION PROGRAM <br /> A. Shopstead/Homestead Program <br /> 1. Loan term of twenty years at a fixed interest rate of thr�=e (3) per cent. <br /> 2. Loan funds will finance eligible costs such as: landsc::�ing, signage, parking <br /> lot, fire codes, code and incipient codes. <br /> 3. Priority given to owners with a business plan and the ability to secure bank <br /> financing for 45% of the acquisition and/or current owrer of the property. <br /> B. DCDF, Inc. Acquisition Rehabilitation <br /> 1. Purchase of property not to exceed $35,000.00 <br /> 2. Rehabilitation limited to $30,000.00 <br /> 3. Prospective owner would lease purchase for a five y��r period. <br /> 4. Purchase price would be determined by the fair marke: value. <br /> 5. The business must operate for four of the five years to r�ceive the 50% lease <br /> rebate. <br /> IV.RENTAL REHABILITATION PROGRAM <br /> A. Rehabilitation <br /> 1. Must correct all identified code and incipient codes. <br /> 2. Energy conversation <br />