Extended Use Period definition

Extended Use Period means the period beginning on the 1st day in the compliance period on which such building is part of a qualified low-income housing project, and ending on the later of the date specified by such agency in such agreement, or the date which is 15 years after the close of the compliance period.

Extended Use Period means the term of the LURA and must be a minimum of fifteen years after the termination of the Compliance Period, which has a term of fifteen years.

Extended Use Period means the period beginning with the first day of the Compliance Period and ending on the date which is 15 years after the end of the Compliance Period unless otherwise indicated in the Extended Use Agreement or unless terminated in accordance with the Extended Use Agreement.

Examples of Extended Use Period in a sentence

• These records shall be maintained for each Qualified Low-income Building throughout the applicable Extended Use Period.

• The records for the first year of the Credit Period, however, shall be retained until the later of the end of the applicable Extended Use Period or six (6) years beyond the due date (with extensions) for filing the federal income tax return for the last year of the Compliance Period of the Qualified Low-income Building.

• The points are divided into 5 separate categories for the development and team.DEVELOPMENT CHARACTERISTICS 55 possible points Increase in Extended Use Period (0-15 points)For increases beyond the initial thirty (30)-year extended use period, five (5) additional points will be awarded for each additional five (5) year period the applicant agrees to extend the extended use period (up to an additional 15 years).

• An Applicant shall not transfer ownership of the Project to the tenants until the Extended Use Period has expired.

• Applicants shall provide one financing plan for the proposed development and shall demonstrate that the proposed development will remain financially feasible and viable as a qualified low-income housing development throughout the Extended Use Period.

More Definitions of Extended Use Period

Extended Use Period means the period commencing with the first day in the Compliance Period and ending on the date which is fifteen years after the close of the Compliance Period.

Extended Use Period means, with respect to any building that is included in a Tax Credit Project, the period that begins on the first day of the Compliance Period and ends on the later of

Extended Use Period means the Compliance Period plus an additional period of at least 15 years, or a longer period, as specified in the Application and the Restrictive Covenants.

Extended Use Period means the period of time specified by MaineHousing in the Extended Use Agreement executed in connection with a Project pursuant to Section 42(h)(6)(D) of the Code, which is the period set forth in Section 5.A. for Projects allocated Credit under the State Ceiling.

Extended Use Period means the period described in Section 42(h)(6)(D) of the Code.

Extended Use Period means the continuous period, a minimum of fifteen (15) years, following the close of the Compliance Period during which a Qualifying Building must satisfy all requirements of the Code and the Credit Program. The Extended Use Period for the Development is set forth on Exhibit "A" to the Regulatory Agreement and may not be revoked or terminated prior to said date except as provided in the Code, these Chapter 36 Rules or in the Regulatory Agreement.

Extended Use Period means, with respect to any building that is part of the Project, the period beginning on the first day in the Compliance Period on which such building is part of a qualified low-income housing project and ending on the date that is 15 years after the close of the Compliance Period.