(a) The purpose of this section is to identify the
threshold documentation that is specific to the Request for State
Housing Tax Credits submission, unless specifically indicated or otherwise
required by Department rule. Only those documents listed herein may
be submitted.
(b) Certification, Acknowledgement, and Consent of
Development Owner. A certification of the information in this subchapter
as well as Subchapter B of this chapter must be executed by the Development
Owner and addresses the specific requirements associated with the
Development. The Person executing the certification is responsible
for ensuring all individuals referenced therein are in compliance
with the certification and that they have given it with all required
authority and with actual knowledge of the matters certified. Applicants
must certify that there has been no change to the Applicant Eligibility
or Original Owner Certification since the Original Application was
submitted.
(c) Site Requirements and Restrictions. The Applicant
must certify that there have been no changes from the Original Application
that would require additional disclosure or mitigation, or render
the proposed Development Site ineligible. Any change must be addressed
under the requirements of §10.405 of this title (relating to
Amendments and Extensions).
(d) Site Control. Applicants must certify that there
has been no change to Site Control, other than extensions or purchase
by the Applicant, since the Original Application was submitted. If
the nature of Site Control has changed, State Housing Tax Credit Request
must submit the appropriate documentation as described in §11.204(9)
of this chapter.
(e) Zoning. (§2306.6705(5)) If the zoning status
of the Development has changed since the Original Application, the
Request for State Housing Tax Credits must include all requirements
of §11.204(10) of this chapter (relating to Zoning).
(f) Applicants who elect to request an allocation of
State Housing Tax Credits must include a term sheet from a syndicator
that, at a minimum, includes:
(1) An estimate of the amount of equity dollars expected
to be raised for the Development;
(2) The amount of State Housing Tax Credits requested
for allocation to the Development Owner
(3) Pay-in schedules;
(4) Syndicator consulting fees and other syndication
costs; and
(5) An acknowledgement of the amounts and terms of
all other anticipated sources of funds and if the Application reflects
an intent to elect income averaging there must be an acknowledgement
to that effect in the term sheet.
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