§410cc–32. Park preservation plan and index — Inbound Citations

(B) the Commission to assist the Commission in establishing the index and the standards and criteria required by section 410cc–32 of this title.

(d) the Commission has not made good faith efforts to (1) provide for the preservation, restoration, management, development, or maintenance of property within the park and preservation district or (2) carry out the park preservation plan approved under section 410cc–32 of this title.

(B) the goals of the park preservation plan approved under section 410cc–32(a) of this title.

(2) Subject to sections 410cc–24 and 410cc–32(b) of this title, the Secretary shall make available to the Commission any funds appropriated under section 410cc–13(a)(2) of this title for the purpose of carrying out part C of this subchapter.

(1) ¹ the total of the amounts authorized to be appropriated for the purpose of carrying out section 410cc–32(b)(2) of this title, for the payment of grants and loans under section 410cc–33 of this title, for the acquisition of property under section 410cc–34 of this title, and for carrying out any transportation program and any educational and cultural program described in section 410cc–32(c) of this title shall not exceed $33,600,000.

(1) ¹ the total of the amounts authorized to be appropriated for the purpose of carrying out section 410cc–32(b)(2) of this title, for the payment of grants and loans under section 410cc–33 of this title, for the acquisition of property under section 410cc–34 of this title, and for carrying out any transportation program and any educational and cultural program described in section 410cc–32(c) of this title shall not exceed $33,600,000.

(b) the city of Lowell has failed to notify the Commission of (1) applications for building permits or zoning variances respecting any property which is included in the index established pursuant to section 410cc–32(d) of this title, or (2) any proposals of the city of Lowell to change the regulations or laws described in paragraph (c)(1) of this subsection;

(1) owners of property within the park or preservation district to assist such owners in (A) making repairs to or improvements in any property included in the index established pursuant to section 410cc–32(d) of this title, or (B) applying for loans under subsection (a) of this section; and

(a) The Commission may make loans to the Lowell Development and Financial Corporation (established under chapter 844 of the Massachusetts General Laws and hereinafter referred to as the “corporation”) to enable the corporation to provide low interest loans for the preservation, restoration, or development of any property described in section 410cc–32(d)(1) of this title. The Commission may make any such loan to the corporation only after entering into a loan agreement with the corporation which includes the following terms:

(1) The loan to the corporation shall have a maturity of thirty-five years. At the end of such period, the corporation shall repay to the Secretary of the Treasury (in a lump sum) for deposit in the general fund of the Treasury the full amount of the loan and any additional amounts accruing to the corporation pursuant to this subsection excepting those amounts expended by the corporation for reasonable administrative expenses.

(2) The money received from the Commission, and any interest earned on such money, may be obligated by the corporation only for low interest loans made under paragraphs (6) and (7) of this subsection, except that the corporation may use such money to the extent the Commission considers reasonable to satisfy the costs of the corporation in administering the loan or procuring loan guarantees or insurance.

(3) Within five years after receiving the loan from the Commission, the corporation shall make loans under paragraphs (6) and (7) of this subsection which, in the aggregate, obligate the full amount of money received from the Commission (minus any amount required to satisfy the costs described in paragraph (2) of this subsection).

(4) As loans made under paragraphs (6) and (7) of this subsection are repaid, the corporation shall make additional loans under such paragraphs with the money made available for obligation by such repayments.

(5) The corporation shall make available to the Commission and to the Secretary, upon request, all accounts, financial records, and other information related to loans made under paragraphs (6) and (7) of this subsection.

(6) Before the corporation approves any application for a low interest loan for which money has been made available to the corporation by the Commission, the corporation shall require the prospective borrower to furnish the corporation with a statement from the Commission stating that the Commission has reviewed the application and has determined that any loan received by the prospective borrower will be spent in a manner consistent with—

(A) the standards and criteria established pursuant to section 410cc–32(e) of this title, and

(B) the goals of the park preservation plan approved under section 410cc–32(a) of this title.

(7) The corporation may approve any application for a low interest loan which meets the terms and conditions prescribed by the corporation with the approval of the Commission and for which money has been made available to the corporation by the Commission if—

(A) the prospective borrower furnishes the corporation with the statement described in paragraph (6) of this subsection;

(B) the corporation determines that such borrower has sufficient financial resources to repay the loan; and

(C) such borrower satisfies any other applicable credit criteria established by the corporation.

In order to determine whether the corporation has complied with this subsection, the Commission, or such other appropriate person or entity as the Commission may designate, shall conduct an audit at least once every two years of all accounts, financial records, and other information related to loans made under paragraphs (6) and (7) of this subsection. If the Commission determines, after conducting a hearing on the record, that the corporation has substantially failed to comply with this subsection, the outstanding balance of any loan made to the corporation under this subsection shall become payable in full upon the demand of the Commission.

(1) The Commission may make grants to owners of property described in section 410cc–32(d)(1) of this title for the preservation, restoration, management, development, or maintenance of such property in a manner consistent with the standards and criteria established pursuant to section 410cc–32(e) of this title.

(1) The Commission may acquire any property designated in paragraph (3) of this subsection, any property described in section 410cc–32(d)(1) of this title, or any interest therein, by donation, by purchase with donated or appropriated funds, or by condemnation in accordance with paragraph (2) of this subsection.

(2) conduct or support such activities in a manner which (A) to the maximum extent practicable is consistent with the standards and criteria established pursuant to section 410cc–32(e) of this title, and (B) will not have an adverse effect on the resources of the park or preservation district.

(b) No Federal entity may issue any license or permit to any person to conduct an activity within the park or preservation district unless such entity determines that the proposed activity will be conducted in a manner consistent with the standards and criteria established pursuant to section 410cc–32(e) of this title and will not have an adverse effect on the resources of the park or preservation district.

(A) the city of Lowell to assist the city in establishing regulations or laws consistent with the standards and criteria established pursuant to section 410cc–32(e) of this title; and

(a) the city of Lowell has failed to establish regulations or laws consistent with the standards and criteria established pursuant to section 410cc–32(e) of this title within one year after the date such standards and criteria have been established, except that the Secretary may extend such one-year period for not more than six months if the Secretary determines that the city has made a good faith effort to establish such regulations or laws;

(1) during the period before the city of Lowell has established regulations or laws consistent with the standards and criteria established pursuant to section 410cc–32(e) of this title, the city of Lowell has granted any building permit or zoning variance or has taken any other action respecting any property within the park or preservation district, which either the Secretary or the Commission consider to be inconsistent with such standards and criteria;

(A) the standards and criteria established pursuant to section 410cc–32(e) of this title, and

(1) The Commission may make grants to owners of property described in section 410cc–32(d)(1) of this title for the preservation, restoration, management, development, or maintenance of such property in a manner consistent with the standards and criteria established pursuant to section 410cc–32(e) of this title.