Continuing Compliance definition
Examples of Continuing Compliance in a sentence
Acquire or expend for, or commit to acquire or expend for, fixed assets by lease (including any Capitalized Lease Obligations), purchase or otherwise if at the time of or upon the consummation of such acquisition or purchase there is not or will not be Continuing Compliance.
Exhibit D Certification of Continuing Compliance, or a similar form as may be approved by the Town, may be used to meet this requirement.
Such information shall be reported to the City substantially in the form of the Certification of Continuing Compliance attached hereto as Exhibit 3 or in such other format as may be agreed upon by City and Owner.
Manager’s Rights to Cure If Owner learns that actions resulting in a potential Continuing Compliance Failure have occurred (whether from its bond counsel, the IRS or other judicial or regulatory body, Manager or elsewhere), Owner shall provide written notice to Manager describing the nature of the actions and possible violation of the IRS Guidelines.
Monitoring services include review of Tenant Income Certifications and Certificates of Continuing Compliance provided by a property management company.
Annually, throughout the Period of Affordability, the Project Developer must submit a rent roll for the Property’s Affordable Units and certify Contract compliance utilizing the Project Developer’s Certification of Continuing Compliance form provided by CDD.
The Owner shall submit an annual Certification of Continuing Compliance attached hereto as Exhibit B or in such other format as may be reasonably requested by the Housing Authority.
The Project Developer shall have the following documentation available at the monitoring visit: current rent roll for the Affordable Units, Project Developer’s Certification of Continuing Compliance, and tenant files for the Affordable Units.
Manager shall have fifteen (15) Business days within which to notify Owner whether it intends to take remedial measures (at Manager’s sole expense) to cure any Continuing Compliance Failure.