LIHTC Project definition
Examples of LIHTC Project in a sentence
Prepared by: LIHTC Project# ----------------------------------------------------------------------------- Gross Annual Unit Tenant Move-In No. Of Inc.
Prepared by: LIHTC Project# ----------------------------------------------------------------------------- Gross Annual Unit Tenant Move-In # Of Inc.
To the extent that any of HRD or its Affiliates 16 acts as the developer of any of the LIHTC Project sites, it shall use commercially reasonable 17 efforts to design to and obtain approval for the unit counts contained herein and the densities 18 feasible for the sites.
All LIHTC Project sites will 15 require development approvals from the County.
To the extent that any of HRD or its Affiliates acts 40 as the developer of any of the LIHTC Project sites, it shall agree to grant to the 41 Commission a right to purchase the LIHTC Project at fair market value at the end of the 42 initial 15-year tax credit period applicable to the LIHTC Project and again at the end of 43 the Restriction Period applicable to the LIHTC Project (the “Purchase Option”).
To the extent that any of HRD or its 15 Affiliates acts as the developer of any of the LIHTC Project sites, in the event that it elects 16 to partner with a third-party affordable housing developer, it shall first enter into a 90 day 17 exclusive negotiating period with the Commission and shall negotiate in good faith to 18 enter into a partnership with the Commission for the development of such site.
In the event that either of the Temporary Fire Station or Existing Library 19 sites are not conveyed directly to the Commission, then the number of Low Income Units to be 20 provided and/or facilitated by HRD and the percentage of Low Income Units on each LIHTC 21 Project site developed shall be the number and percentage ultimately approved by the Planning 22 Board on the LIHTC Project sites identified herein.
The documentation for, or contract of, the transfer of a 35 LIHTC Project site or any portion thereof under this Agreement shall provide for the customary 36 period for evaluating and for addressing the existing environmental conditions on the site prior to 37 the closing on the site so that the site can be made suitable for residential development in 38 accordance with such document’s or contract’s terms.