Low Income Housing Tax Credits. The City agrees to use its diligent, reasonable and good faith efforts to support Owner’s efforts to apply for and obtain finance subsidies and Low Income Housing Tax Credits that are normally available from either the State of Vermont or the U.S. government to qualified Vermont development projects that include Affordable Housing and/or Work Force Housing, such as that which this Project intends to offer.
Low Income Housing Tax Credits. Borrower shall perform all actions and shall meet all requirements necessary or desirable to maintain the allocation of LIHTCs to it.
Low Income Housing Tax Credits. Funding Lender acknowledges that Tax Credits have been allocated with respect to the Mortgaged Property and that the Mortgaged Property is, or will be, subject to a Tax Credit Regulatory Agreement executed, or to be executed, in connection with the allocation of the Tax Credits.
Low Income Housing Tax Credits. The Borrower promises to keep each of the following covenants relating to the Low Income Housing Tax Credit:
Low Income Housing Tax Credits. To the Knowledge of Juniata, each syndication of property in which Juniata or JVB has invested for the purpose of allowing Juniata or JVB to claim a low income housing tax credit or similar tax credit is eligible and qualifies for the relevant tax credit in an amount no less than the amount that it was intended to produce. For avoidance of doubt, to the Knowledge of Juniata, the Mxxx Edge Terrace Low Income Housing Syndication, in which Juniata has invested, is eligible and qualifies for the relevant tax credit relating thereto in an amount no less than $572,218 per year through the year 2022.
Low Income Housing Tax Credits. The Project is, or will be, subjected to and benefited by the terms and conditions of the low-income housing tax credit requirements as set forth in the Code, and as required by Florida Housing Finance Corporation during the appropriate extended use period.
Low Income Housing Tax Credits. Based upon the representations of the Borrower, the Issuer determines and finds that the amount of low-income housing tax credits projected to be allocated to the Project pursuant to Section 42 of the Code does not exceed the amount necessary for the financial feasibility of the Project and its viability as a qualified housing project throughout the credit period for the Project and that the Project satisfies the requirements for the allocation of a housing credit dollar amount under the qualified allocation plan applicable to the area in which the Project is located.
Low Income Housing Tax Credits. The Project will be operated at all times in a manner which satisfies all requirements and restrictions, including tenant income and rent restrictions, applicable to projects which qualify for low-income housing Tax Credits under Section 42 of the Code, including without limitation, the following:
