At risk of losing its affordability controls definition

At risk of losing its affordability controls means a project with a deed restriction that expires within five years that is “likely” to convert to market rate (as supported by the market analysis at N.J.A.C. 5:80-33.12(c)1ii), project based assistance that expires within five years, a project that may be condemned or a project that is subject to foreclosure, unless NJHMFA determines such acquisition is part of an arrangement a purpose of which is to terminate such affordability controls. For multi-phase projects, forestalling of a foreclosure by funding of the initial phase shall not preclude latter phases of the same project from qualifying for the set-asides at N.J.A.C. 5:80-33.4(a)1, 33.5(a)1 and 33.7(a)2, provided the latter phases satisfy the remaining elements of the definition of “preservation project” below.
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At risk of losing its affordability controls means a project with a deed restriction that expires within five years *[after the tax credit date of allocation]* *of the date of the new tax credit allocation* that is “likely” to convert to market rate (as supported by the market analysis at
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At risk of losing its affordability controls means a project with a deed restriction that expires within five years after the tax credit date of allocation that is “likely” to convert to market rate (as supported by the market analysis at N.J.A.C. 5:80-33.12(c)1ii), a project [based] with project-based assistance that expires within five years after the tax credit date of allocation, a project that may be condemned, or a project that is subject to foreclosure, unless NJHMFA determines such acquisition is part of an arrangement a purpose of which is to terminate such affordability controls. For multi-phase projects, forestalling of a foreclosure by funding of the initial phase shall not preclude latter phases of the same project from qualifying for the set-asides at N.J.A.C. 5:80-
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More Definitions of At risk of losing its affordability controls

At risk of losing its affordability controls means a project with a deed restriction that expires within five years that is “likely” to convert to market rate (as supported by the market analysis at
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