06/07/2010 Council Packet - Laserfiche WebLink

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• 3 fr''rd( JtU. GJ '9b 11 3814-1 LUMBER C1$ fnK)t {n' iig7631 t112 O+'•1 ,i ♦ /le E. Evidence of transfer of ownership of development to the owner for developmenu stceivinj acquisition credit. P. Written statement from owner than they will utilize public housing waiting list(%) identifying nitro and address of appropriate public housing authority, iedicnting how the owner will utilize the waiting lists. • 0. Documentation of the antrum and disposition of reserver, contingencies, end any trlob savings. If the abovo revert back to developer /owner, general partner or way owncnhip interest. the MHFA will consider tinese as deferred developer feat, end for purposes of tax credit allocation, restrict the developer fees as spceifled in tho Procedural Manual. H. Recorded oopy of MHPA approved Declaration of Land Use Restrictive Covenant for Low Income Housing Credits. Do not record prior to MHFA review. T. A copy of the Election of Gross Rent if the owner wishes to elect to determine the gross runt floor on the due the building is phlox! in service pursuant to Rev. Proc.94 -57. (Please not that the original Election form must be received by MIWA for each building before that bvildh g is pieced in service if no Election of Gross Rent Form in received, the gross rent floor will be determined as of December 31. 1994.). . Copies of any waivers required by Section 42 obtained from I.R.S. K. Copies of find Syndication Agrcc>Taenu disclosing terms and conditions. , L. Original Owner Certification (MIIFA Form LSHC-3) concerning the placed in service date as defined in Section 42. M. Copies of final documents of all sources of tirade (loans, grams etc.) disclosing sit terms end condition including copies of executed originals of all loan or grant notes and mortgages. N. Final amount of premmils or rooelpu expected to be generated by the tax credits. O. Final 15 year after tax cash flow pro forma (for five or morn units). P . Such documents and instruments as see necessary and as may be required by MHFA. Q. Nonrefundable aflotauion fee of five percent (5%) of annual tax credit 'amount, if not already paid at carryover application. R. The project is mutant in the payment of compliance monitoring fees. S. Cuunsnt rent roll. T. Annual Owner's Certification (MHFA Form LUHC -12) for each calendar year beginning with the year the pmect was placed in service. U. Annual Compliance Report (MHFA Form LIHC -13) for each calendar year beginning with the your the project was placed in service. S. This allocation may be canceled and returned to the state credit ceiling for reallocation by mutual consent of the panics hereto and also is subject to cancellation at the sole discretion of the MHFA if the Owner fails to comply with the project schedule described in Exhibit E, as applicable. or the additional or specie/ conditions of the aitocation described in Exhibit C or the letter which established tho trot credit r+e+ scrvazion. 9. `The Owner agrees that for rhis Agreement to be valid. it must be properly signed, notarized, and in the office of the MHFA no later than the last business day of the month set forth in par. 4, shove. 10. Owner and MHFA agree that this Agreement shall be binding on all successors in interest to the undersigned taxpaycdOwner, and all successors in interest to the Owner or Owners of the Project. I I. Additional or Special Conditions. This Commitment is subject to the additional or special conditions which are listed below: ((f none. so state.) See Exhibit C attached hereto and hereby Mule a part hereof. Cm REMAINING PORTION OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK.) 1.,mv loom. Ho inn Tax c:,.dat Prop= 3 1Offs ColuaatWora .eJ Conyew Altor.snoa Ague ac With E>.ctton of Appt c ba. rotst trjc