Section 73.313. Loss sharing agreement

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Following certification of an industrial development agency by the PIDA, the PDIA may enter into an agreement with the agency for the sharing of losses between the PDIA and the agency on industrial development projects. A loss sharing agreement entered into would:
(1) Be subject to the approval of the PIDA’s counsel.
(2) Not apply to industrial park or multitenancy projects, unless an investor-developer is involved in the project.
(3) Not apply in the event of losses caused by or attributable to the agency.

The provisions of this § 73.313 adopted and renumbered from § 303.83, March 20, 1992, effective March 21, 1992, 22 Pa.B. 1270; amended October 19, 2007, effective October 20, 2007, 37 Pa.B. 5601. Immediately preceding text appears at serial page (230925).

                    
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