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16 what measures or acts will be necessary, in the opinion of the Authority, for the Developer to take or perform in order to obtain such certification. (c) Regardless of whether a Certificate of Completion is issued by the Authority, the construction of the Minimum Improvements shall be deemed to be complete upon issuance of a certificate of occupancy by the City. Section 4.5. Affordability Covenants; Qualification of TIF District. The Authority and the Developer understand and agree that the TIF District constitutes a “housing district” under Section 469.174, subdivision 11 and Section 469.1761 of the TIF Act. In that regard, the Developer agrees that the Minimum Improvements are subject to the following affordability covenants: (a) At all times from initial occupancy of the Minimum Improvements through the Maturity Date, the Minimum Improvements must comply with Section 469.1761, subdivision 3 of the TIF Act, which requires that the Minimum Improvements satisfy the income requirements for a qualified residential rental project as defined in Section 142(d) of the Internal Revenue Code. (b) In consideration of the financial assistance provided by this Agreement (from tax increment), the Developer represents and covenants that from the date the Minimum Improvements are initially occupied through the Maturity Date, at least twenty percent (20%) of the units in the Minimum Improvements, including any units designated as guest units, shall be available for occupancy by individuals or families whose income is fifty percent (50%) or less of the area median gross income. (c) If the Authority receives notice from the State Department of Revenue, the State Auditor, any Tax Official or any court of competent jurisdiction that the TIF District does not qualify as a “housing district,” due to the action or inaction of the Developer, such event shall be deemed an Event of Default under this Agreement; provided, however, that the Authority may not exercise any remedy under this Agreement so long as such determination is being contested and has not been finally adjudicated. In addition to any remedies available to the Authority under Article IX hereof, the Developer shall indemnify, defend and hold harmless the Authority for any damages or costs resulting therefrom, except with respect to damages or costs resulting from the gross negligence or willful misconduct of the Authority. (d) The Developer understands that if the Developer does not comply with the affordability covenants in this Section 4.5, the TIF Act requires the Authority to decertify the TIF District. Section 4.6. Affordable Housing Reporting. At least annually, no later than April 1 of each year commencing on the April 1 first following the issuance of the Certificate of Completion, the Developer shall provide a report to the Authority evidencing that the Developer complied with the affordability covenants set forth in Section 4.5 hereof during the previous calendar year. The Report shall include the compliance certificate set forth in EXHIBIT G and the income form entitled “Tenant Income Certificate” from the Minnesota Housing Finance Agency (MHFA HTC Form 14), or if unavailable, any similar form, for each residential unit meeting the affordability requirements under Section 4.5. The Authority may require the Developer to provide additional information in