California Harbors and Navigation Code 76.3 – (a) The department may make loans to private marina owners to …
(a) The department may make loans to private marina owners to develop a recreational marina. Loan funds from the department may be utilized for both of the following:
(1) Construction costs for berthing facilities, dredging, parking, public access facilities, restrooms, vessel pumpout facilities, oil recycling facilities, utilities, landscaping, receptacles for the purpose of separating, reusing, or recycling all solid waste materials, and other incidental boating-related amenities.
Terms Used In California Harbors and Navigation Code 76.3
- Person: means any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Harbors and Navigation Code 19
- Vessel: includes ships of all kinds, steamboats, steamships, canal boats, barges, sailing vessels, and every structure adapted to be navigated from place to place for the transportation of merchandise or persons. See California Harbors and Navigation Code 21
(2) Acquisition, collateral appraisals, permit fees, planning, engineering, and design expenses directly related to the items specified in paragraph (1).
(b) The department shall not make a loan to a recreational marina that restricts access or bars the public other than that which is consistent with general commercial business practices.
(c) Any private marina owner who purchases facilities previously developed with a department loan is eligible to apply for a new construction loan from the department.
(d) (1) The department may also make a loan to a recreational marina for the purpose of refinancing an existing loan, subject to the following conditions:
(A) Not more than 70 percent of the proceeds from the loan shall be used to refinance an existing loan.
(B) Not less than 30 percent of the loan proceeds shall be used for construction activity authorized under this section.
(C) The loan applicant shall meet all other requirements under law for loan qualification and any other applicable term or condition of law.
(2) This subdivision does not prohibit a person from applying for a loan under subdivision (a).
(Amended by Stats. 2009, Ch. 610, Sec. 11. (SB 717) Effective January 1, 2010.)