Common use of NYS Xxxxxxxxxx Tax Credit Program Participation Clause in Contracts

NYS Xxxxxxxxxx Tax Credit Program Participation. Recipient shall also deposit into the Replacement Reserve Account any proceeds received for the project from the NYS Xxxxxxxxxx Cleanup Program in excess of $ , (the estimated amount of proceeds expected by Recipient from the NYS Xxxxxxxxxx Cleanup Program represented to DHCR by Recipient and relied upon by DHCR, pursuant to which DHCR’s allocation of Low-Income Housing Credits for the Project will be, in part, based). Recipient shall forward copies of all documentation (including but not limited to checks received) regarding the amount of such proceeds to DHCR’s Low- Income Housing Credit Program Manager within 30 days of Recipient’s receipt from or submission to the NYS Department of Taxation and Finance. Recipient may request and DHCR shall allow a reduction in the deposits required by this paragraph upon Recipient’s documenting, to the satisfaction of DHCR, expenditures for the Xxxxxxxxxx remediation associated with the Project in excess of $ .]

NYS Xxxxxxxxxx Tax Credit Program Participation. Recipient shall also deposit into the Replacement Reserve Account any proceeds received for the project from the NYS Xxxxxxxxxx Cleanup Program in excess of $ _, (the estimated amount of proceeds expected by Recipient from the NYS Xxxxxxxxxx Cleanup Program represented to DHCR by Recipient and relied upon by DHCR, pursuant to which DHCR’s allocation of Low-Income Housing Credits for the Project will be, in part, based). Recipient shall forward copies of all documentation (including but not limited to checks received) regarding the amount of such proceeds to DHCR’s Low- Income Housing Credit Program Manager within 30 days of Recipient’s receipt from or submission to the NYS Department of Taxation and Finance. Recipient may request and DHCR shall allow a reduction in the deposits required by this paragraph upon Recipient’s documenting, to the satisfaction of DHCR, expenditures for the Xxxxxxxxxx remediation associated with the Project in excess of $ .]

NYS Xxxxxxxxxx Tax Credit Program Participation. Recipient shall also deposit into the Replacement Reserve Account any proceeds received for the project from the NYS Xxxxxxxxxx Cleanup Program in excess of $ , (the estimated amount of proceeds expected by Recipient from the NYS Xxxxxxxxxx Cleanup Program represented to DHCR by Recipient and relied upon by DHCR, pursuant to which DHCR’s allocation of Low-Income Housing Credits for the Project will be, in part, based). Recipient shall forward copies of all documentation (including but not limited to checks received) regarding the amount of such proceeds to DHCR’s Low- Income Housing Credit Program Manager within 30 days of Recipient’s receipt from or submission to the NYS Department of Taxation and Finance. Recipient may request and DHCR shall allow a reduction in the deposits required by this paragraph upon Recipient’s documenting, to the satisfaction of DHCR, expenditures for the Xxxxxxxxxx remediation associated with the Project in excess of $ .]

NYS Xxxxxxxxxx Tax Credit Program Participation. Recipient shall also deposit into the Replacement Reserve Account any proceeds received for the project Project from the NYS Xxxxxxxxxx Cleanup Program in excess of $ , (the estimated amount of proceeds expected by Recipient from the NYS Xxxxxxxxxx Cleanup Program represented to DHCR by Recipient and relied upon by DHCR, pursuant to which DHCR’s allocation of Low-Income Housing Credits for the Project will be, in part, based). Recipient shall forward copies of all documentation (including but not limited to checks received) regarding the amount of such proceeds to DHCR’s Low- Income Housing Credit Program Manager within 30 days of Recipient’s receipt from or submission to the NYS Department of Taxation and Finance. Recipient may request and DHCR shall allow a reduction in the deposits required by this paragraph upon Recipient’s documenting, to the satisfaction of DHCR, expenditures for the Xxxxxxxxxx remediation associated with the Project in excess of $ .]