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Topic 11. Non-Residential Use
March 28, 2019
This Chapter has been revised in its entirety.
a. Eligibility Considerations
A property that has both a residential and business use may be eligible for loan guaranty if:
the property is primarily for residential use,
the non-residential use does not impair the residential character,
the property contains no more than one business unit, and
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the property is legally permitted and conforms to current zoning, or is a legal, non-conforming use that is accepted by the local authority.
b. No Value to Business or Commercial Property
No value may be given to the business operations or commercial fixtures in the appraisal.