Common use of Layering Review Clause in Contracts

Layering Review. The Developer acknowledges that a layering review was performed in accordance with 24 CFR 92.250 (b). The Developer hereby represents and certifies to the City that no government assistance other than the City Loans has been obtained or is contemplated to be obtained for the acquisition and rehabilitation of the Property. The Developer agrees to notify the City and Authority in the event that it applies for or proposes to use other governmental funds for the Property prior to the end of the Affordability Period. 504. Limitation Upon Change in Ownership, Management and Control of the Developer.

Layering Review. The Developer acknowledges that a layering review was performed in accordance with 24 CFR 92.250 (b). The Developer hereby represents and certifies to the City that no government assistance other than the City Loans Loan and Authority Loan has been obtained or is contemplated to be obtained for the acquisition and rehabilitation development of the Property. The Developer agrees to notify the City and Authority in the event that it applies for or proposes to use other governmental funds for the Property prior to the end of the Affordability Period. 504. Limitation Upon Change in Ownership, Management and Control of the Developer.

Layering Review. The Developer acknowledges that a layering review was performed in accordance with 24 CFR 92.250 (b). The Developer hereby represents and certifies to the City that no government assistance other than the City Loans Loan and the Agency Loan has been obtained or is contemplated to be obtained for the acquisition and rehabilitation of the Property. The Developer agrees to notify the City and Authority Agency in the event that it applies for or proposes to use other governmental funds for the Property prior to the end of the Affordability Period. 504. Limitation Upon Change in Ownership, Management and Control of the Developer.