Common use of Relation to Affordable Housing Units Clause in Contracts

Relation to Affordable Housing Units. No costs of vertical construction of the 9% Project will be eligible for reimbursement with Loan proceeds. Developer shall use a contract for the Site Work that is separate from the contract(s) Developer uses for the vertical construction of the 9% Project. Developer may, however, request that the FCRHA approve Developer’s use of a single contract for both the Site Work and the vertical construction of the 9% Project. The FCRHA will not unreasonably withhold, condition, or delay such approval, so long as (i) such single contract, as well as the use of Loan proceeds to pay for Site Work costs incurred through such single contract, conform, in the reasonable opinion of the FCRHA, to all applicable CDBG (as defined below) program requirements and allow the FCRHA to clearly account for the use of all Loan proceeds, and (ii) the Parties have agreed to an amendment to this Agreement that, in the reasonable opinion of the FCRHA, revises such terms of this Agreement as necessary to account for a single contract structure.

Relation to Affordable Housing Units. No costs of vertical construction of the 9% 47 Project will be eligible for reimbursement with Loan proceeds. Developer shall use a contract for the Site Work that is separate from the contract(s) Developer uses for the vertical construction of the 9% 47 Project. Developer may, however, request that the FCRHA approve Developer’s use of a single contract for both the Site Work and the vertical construction of the 9% 47 Project. The FCRHA will not unreasonably withhold, condition, or delay such approval, so long as (i) such single contract, as well as the use of Loan proceeds to pay for Site Work costs incurred through such single contract, conform, in the reasonable opinion of the FCRHA, to all applicable CDBG (as defined below) program requirements and allow the FCRHA to clearly account for the use of all Loan proceeds, and (ii) the Parties have agreed to an amendment to this Agreement that, in the reasonable opinion of the FCRHA, revises such terms of this Agreement as necessary to account for a single contract structure.

Relation to Affordable Housing Units. No costs of vertical construction of the 9% 94 Project will be eligible for reimbursement with Loan proceeds. Developer shall use a contract for the Site Work that is separate from the contract(s) Developer uses for the vertical construction of the 9% 94 Project. Developer may, however, request that the FCRHA approve Developer’s use of a single contract for both the Site Work and the vertical construction of the 9% 94 Project. The FCRHA will not unreasonably withhold, condition, or delay such approval, so long as (i) such single contract, as well as the use of Loan proceeds to pay for Site Work costs incurred through such single contract, conform, in the reasonable opinion of the FCRHA, to all applicable CDBG (as defined below) program requirements and allow the FCRHA to clearly account for the use of all Loan proceeds, and (ii) the Parties have agreed to an amendment to this Agreement that, in the reasonable opinion of the FCRHA, revises such terms of this Agreement as necessary to account for a single contract structure.

Relation to Affordable Housing Units. No costs of vertical construction of the 9% Senior Project will be eligible for reimbursement with Loan proceeds. Developer shall use a contract for the Site Work that is separate from the contract(s) Developer uses for the vertical construction of the 9% Senior Project. Developer may, however, request that the FCRHA approve Developer’s use of a single contract for both the Site Work and the vertical construction of the 9% Senior Project. The FCRHA will not unreasonably withhold, condition, or delay such approval, so long as (i) such single contract, as well as the use of Loan proceeds to pay for Site Work costs incurred through such single contract, conform, in the reasonable opinion of the FCRHA, to all applicable CDBG (as defined below) program requirements and allow the FCRHA to clearly account for the use of all Loan proceeds, and (ii) the Parties have agreed to an amendment to this Agreement that, in the reasonable opinion of the FCRHA, revises such terms of this Agreement as necessary to account for a single contract structure.