Examples of Housing Credits in a sentence
If not syndicating/selling the Housing Credits, the owner’s commitment to provide equity must be provided.
Consideration of all necessary actions with regard to the HC (Housing Credits) Program.
If the Credit Underwriter recommends that no credits be allocated to the Development and the Executive Director accepts the recommendation, the Applicant shall be notified that no Housing Credits will be allocated to the Development.
The allocation amount for acquisition Housing Credits shall be limited to the lesser of the sale price or the appraised value of the building(s).
When any Housing Credit Allocation is syndicated or sold directly to an investor, the Corporation will require that the net proceeds received on the sale of the Housing Credits be reflective of market rate pricing as depicted by the price per dollar of Housing Credit Allocation available to the Development.
Basis Boost QualificationsWith regard to Housing Credits, HUD provides regulatory guidance on the effective date of Difficult Development Area (DDA) and Qualified Census Tract (QCT) lists for the purpose of determining whether a Development qualifies for an increase in eligible basis in accordance with Section 42(d)(5)(B) of the IRC.
For Housing Credits, the investor limited partner of an Applicant limited partnership or the investor member of an Applicant limited liability company must be identified.
After the fourteenth year of the Compliance Period, unless otherwise obligated under the Extended Use Agreement, or a Land Use Restriction Agreement under another Corporation program, and provided the right to request a qualified contract for the Development was not waived in exchange for or in connection with the award of Housing Credits, the owner of a Development may submit a qualified contract request to the Corporation.
If syndicating/selling the Housing Credits, there are two exceptions to the preceding sentence.
The letter must include the following information: o Name of existing development; o Name of proposed Development; o Loan balance; o Acknowledgment that property is applying for Housing Credits; and o Applicable HUD program.