| (3),
or (4) of this subsection based on a Housing Tax Credit Commitment
from a preceding Application round will be attributable to the Applicant
or Affiliate of an Application submitted in the Application round
referenced above.
(1) If the Applicant or Affiliate failed to meet the
original Carryover submission or 10% Test deadline(s) or has requested
an extension of the Carryover submission deadline or the 10% Test
deadline (relating to either submission or expenditure).
(2) If the Applicant or Affiliate failed to meet the
federal commitment or expenditure requirements, deadlines to enter
into a Contract or close a Direct Loan, or did not meet benchmarks
of their Contract with the Department.
(3) If the Applicant or Affiliate, in the Competitive
HTC round immediately preceding the current round, failed to meet
the deadline to both close financing and provide evidence of an executed
construction contract under subsection (c)(9) of this section (related
to Readiness to Proceed).
(4) If the Developer or Principal of the Applicant
has violated or violates the Adherence to Obligations.
|
