10625

The new construction or rehabilitation of low cost rental housing units for rent to low or moderate income families must be fully completed in a maximum term of three (3) years and two (2) years, respectively, counting from the date the Executive Director issues the qualification certificate. The Executive Director may, at his full discretion, modify or extend the term provided in this section, if the interests of the Commonwealth of Puerto Rico do so justify it. The Executive Director may again collect the charge or handling fee provided in § 10629 of this title, for any request for extension of the term provided above. History —Oct. 4, 2001, No. 140, § 6.