Laserfiche WebLink
200109053 <br />(f) the Project Site consists of a parcel or parcels that are contiguous except for the <br />interposition of a road, street or stream, and all of the Project Facilities comprise a single <br />geographically and functionally integrated project for residential rental property, which have <br />similarly constructed units financed pursuant to a common plan, together with Functionally <br />Related and Subordinate facilities which shall be owned by the Borrower or an Affiliated Party as <br />evidenced by the ownership, management, accounting and operation of the Project; <br />(g) no Dwelling Unit in the Project shall be occupied by the Borrower; <br />(h) the Borrower shall not discriminate on the basis of race, religion, creed, color, <br />ethnic group identification, sex, sexual preference, source of income (e.g., AFDC, SSI), mental or <br />physical disability, age, national origin, marital or familial status in the rental, lease, use or <br />occupancy of the Project or in connection with the employment or application for employment of <br />persons for the operation and management of the Project; <br />(i) the estimated cost of the acquisition and construction of the Project will be in <br />excess of $9,000,000; <br />0) if the Borrower becomes aware of any situation, event or condition which would <br />result in noncompliance of a Dwelling Unit, the Project or the Borrower with Section 42 or <br />Section 142(d) of the Code or the Regulations, the Borrower shall promptly give written notice <br />thereof to the Issuer and the Trustee; <br />(k) each building in the Project will remain suitable for occupancy taking into <br />account local health, safety and building codes; <br />(1) the Borrower will accept as tenants, on the same basis as all other prospective <br />tenants, persons who are holders of vouchers or certificates for federal housing assistance <br />payments for existing housing pursuant to Section 8 or a successor federal program, and, in <br />connection therewith, the Borrower will not apply tenant selection criteria to such voucher or <br />certificate holders which are more burdensome than the criteria applied to any other prospective <br />tenants; <br />(m) the Borrower will not knowingly take or permit to be taken any action which <br />would have the effect, directly or indirectly, of subjecting the Borrower or the Project to <br />noncompliance with Section 42 or Section 142(d) of the Code and the Regulations; <br />(n) the Borrower (or the Property Manager) shall attend in each year of the Qualified <br />Project Period (LIHTC) at least one of the property management/compliance monitoring sessions <br />sponsored by the Issuer; <br />(o) the Project shall be managed in a manner consistent with prudent property <br />management standards and in compliance with all State and local laws, ordinances and <br />regulations relating thereto; and <br />(p) the Project constitutes or will constitute a qualified low - income building or <br />qualified low- income project, as applicable, as defined in Section 42 of the Code and applicable <br />regulations. <br />-10- <br />