Financial Beneficiary definition

Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

Financial Beneficiary means a Person who is to receive a financial benefit of: a) 3% or more of total estimated Project cost if the total estimated Project cost is $5 million or less; and b) 3% of the first $5 million and 1% of any costs over $5 million if total estimated project cost is greater than $5 million. This definition does not include the Owner of the Tax Credit Project unless the Owner is also the Developer or the Builder and meets the above financial requirements.

Financial Beneficiary means any Developer and its principals or the principals of the Applicant entity who receives or will receive a financial benefit of:

Examples of Financial Beneficiary in a sentence

• Any other relevant matters relating to an Applicant, Developer, any Financial Beneficiary of the Applicant or Developer, and the General Contractor if, in the Credit Underwriter’s opinion, one or more members of the Development team do not possess the ability to proceed.

• In making that determination the Credit Underwriter will consider the prior and recent performance history of the Applicant, Developer, any Financial Beneficiary of the Applicant or Developer, and the General Contractor in connection with any other affordable housing development.

• Any other relevant matters relating to an Applicant, Developer, and any Financial Beneficiary of the Applicant or Developer if, in the Credit Underwriter’s opinion, one or more members of the Development team do not possess the ability to proceed.

• The Corporation shall not proceed with the request until the Applicant or Developer has satisfied any financial obligations for which the Applicant or Developer, or Principal, Affiliate or Financial Beneficiary of the Applicant or Developer is in arrears to the Corporation or any agent or assignee of the Corporation.

• The Board determines that the Applicant or any Principal, Financial Beneficiary, or Affiliate of the Applicant has made a material misrepresentation or engaged in fraudulent actions in connection with any Application for a Corporation program.

More Definitions of Financial Beneficiary

Financial Beneficiary means any Developer and its Principals or Principals of the Applicant entity who receives or will receive a financial benefit as outlined in paragraphs (a) and (b) below and as further described in this rule chapter:

Financial Beneficiary means any Member and its Principals who receives or will receive a financial benefit of 3% or more of the total development cost of the Unit.

Financial Beneficiary means one who is to receive a financial benefit of:

Financial Beneficiary means any Developer and its Principals or the Principals of the Applicant entity who receives or will receive a financial benefit of:

Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development.

Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will

Financial Beneficiary means any Developer and its Principals or the Principals of the Applicant entity who receives or will receive any direct or indirect financial benefit from a Development.