My WebLink
|
Help
|
About
|
Sign Out
Browse
201106807
LFImages
>
Deeds
>
Deeds By Year
>
2011
>
201106807
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/15/2011 10:49:31 AM
Creation date
9/14/2011 4:17:20 PM
Metadata
Fields
Template:
DEEDS
Inst Number
201106807
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
29
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
201i06�0� <br />(a) Throughout the Qualified Project Period (excluding Dwelling Units not <br />previously occupied), at least the Applicable Set-Aside Percentage of the completed <br />Dwelling Units in the Project shall be both a Rent Restricted Unit and occupied solely by <br />Quali�ed Tenants, prior to the satisfaction of which no additional units sha11 be rented or <br />leased to any other tenants after initial rental occupancy of Dwelling Units by Qualified <br />Tenants, as required by Section 42 of the Code. For purposes of satisfying the <br />requirement that not less than the Applicable Set-Aside Percentage of the Dwelling Units <br />be occupied by Qualified Tenants, no Qualified Tenant shall be denied continued <br />occupancy because, after admission, the Qualified TenanYs family income exceeds the <br />applicable qualifying income level set forth in the definition of "Qual�ed Tenant" <br />herein. The Owner shall at all times during the Qualified Project Period maintain the <br />percentage requirements of this Agreement by providing the next available units of <br />comparable or smaller size to Qualified Tenants as needed to achieve compliance with <br />the foregoing requirements. If necessary, the Owner shall refrain from renting Dwelling <br />Units in the Project to persons other than Qualified Tenants in order to avoid violating the <br />requirement that at all times during the Qualified Project Period at least the Applicable <br />Set-Aside Percentage of the completed Dwelling Units in the Project shall be both a Rent <br />Restricted Unit and occupied by Qualified Tenants; <br />(b) To obtain and maintain on file for each Qualified Tenant residing at the <br />Project (which shall be obtained and updated each year during occupancy by such tenant) <br />a copy of such tenant's executed Certification of Tenant Eligibility and Income <br />Verification (attached hereto as Exhibit B or in such other form and manner as may be <br />required by the applicable rules, regulations or policies now or hereafter promulgated by <br />the Authority, the Department of the Treasury or the Internal Revenue Service (the <br />"IRS")), as well as supporting documentation, which is subject to independent <br />investigation and verification by the Authority and which shall be submitted to the <br />Authority as set forth in (c) below; <br />(c) The Owner will irnmediately notify the Authority if at any time any of the <br />Dwelling Units in the Project are not occupied or available for occupancy as provided <br />above, and the Owner will prepare and submit to the Authority, not later than January 15 <br />of each year following the first year of the Qualified Project Period, a Certificate of <br />Continuing Program Compliance (the form of which is attached hereto as Exhibit C) and <br />an Annual Tax Credit Summary Report (the form of which is attached hereto as <br />Exhibit D), both executed by the Owner stating the number of Dwelling Units of the <br />Project which, as of the first date of each calendar year, were occupied by Qualified <br />Tenants (or were deemed to be occupied by Qualified Tenants as provided in <br />subparagraph (a) above for all or part of such period), together with copies of annual <br />Certifications of Tenant Eligibility and Income Verification (and supporting <br />documentation) collected by the Owner; <br />(d) The Owner shall collect and keep records for each qualified low-income <br />building in the Project that shows for each year during the Qualified Project Period the <br />following information for each building in the Project and sha11 retain such records for at <br />least six (6) years after the due date (with extensions) for filing the federal tax return for <br />that year (provided, however, that the records for the �rst (1) year of the Qualified <br />4832-2986-0106.1 '� <br />
The URL can be used to link to this page
Your browser does not support the video tag.