WILLIAM DONALD SCHAEFER, Governor Ch. 422

(A)  THERE IS A HISTORIC PRESERVATION LOAN PROGRAM OF THE
TRUST, KNOWN AS THE MHT LOAN PROGRAM.

(B)  THE PURPOSE OF THE MHT LOAN PROGRAM IS TO IMPLEMENT AND
ENCOURAGE THE PRESERVATION OF HISTORIC PROPERTIES.

(C)  THE TRUST SHALL:

(1)  MANAGE, SUPERVISE, AND ADMINISTER THE MHT LOAN
PROGRAM; AND

(2)  COORDINATE THE MHT LOAN PROGRAM WITH FEDERAL OR
STATE PROGRAMS THAT COMPLEMENT OR FACILITATE CARRYING OUT THE MHT
LOAN PROGRAM.

(D)  THE MHT LOAN FUND MAY BE USED FOR THE FOLLOWING
PURPOSES:

(1)  TO MAKE LOANS TO NONPROFIT ORGANIZATIONS, LOCAL
JURISDICTIONS, BUSINESS ENTITIES, AND INDIVIDUALS FOR THE PURPOSE
OF:

(I)  ACQUIRING, REHABILITATING, OR RESTORING
HISTORIC PROPERTIES; OR

(II)  SHORT-TERM FINANCING FOR COSTS DIRECTLY
RELATED TO WORK REQUIRED OR RECOMMENDED BY THE TRUST OR THE STATE
HISTORIC PRESERVATION OFFICER TO BE UNDERTAKEN BEFORE PROCEEDING
WITH OR CONTINUING A CONSTRUCTION PROJECT IN THE STATE BEING
FUNDED WITH FEDERAL OR STATE MONEYS, WHICH MONEYS MUST SERVE AS
THE SOURCE OF REPAYMENT FOR THE LOAN, AND WHICH COSTS MAY INCLUDE
MAY INCLUDE THE COSTS OF STUDIES, SURVEYS, PLANS AND
SPECIFICATIONS, AND ARCHITECTURAL, ENGINEERING, OR OTHER SPECIAL
SERVICES;

(2)  TO FUND THE PURCHASE OR ACQUISITION BY THE TRUST
OF HISTORIC PROPERTIES OR PARTIAL INTERESTS IN HISTORIC
PROPERTIES FOR USE IN ACCORDANCE WITH THE TRUST'S AUTHORIZED
PURPOSES OR FOR RESALE OR LEASE SUBJECT TO APPROPRIATE
PRESERVATION COVENANTS; AND

(3)  TO FUND THE COSTS OF RESTORATION OR
REHABILITATION OF HISTORIC PROPERTIES OWNED BY THE TRUST FOR USE
IN ACCORDANCE WITH THE TRUST'S AUTHORIZED PURPOSES OR FOR RESALE
OR LEASE SUBJECT TO APPROPRIATE PRESERVATION COVENANTS, WHICH MAY
INCLUDE COSTS DIRECTLY RELATED TO RESTORATION OR REHABILITATION
SUCH AS THE COST OF STUDIES, SURVEYS, PLANS AND SPECIFICATIONS,
AND ARCHITECTURAL, ENGINEERING, OR OTHER SPECIAL SERVICES.

(E)  THE TRUSTEES SHALL REVIEW AND MAKE RECOMMENDATIONS TO
THE SECRETARY WHO SHALL APPROVE EACH LOAN OR EXPENDITURE OF
MONEYS FROM THE MHT LOAN FUND.

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