Basis Boost definition

Basis Boost means up to a thirty percent (30%) boost to the Eligible Basis of the Project.
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Basis Boost. The tax credit program provides a mechanism to off-set development costs in high cost areas (known as “difficult to develop areas”, or DDAs) by increasing the eligible basis for tax credits by providing a 130 percent “basis boost.” An amendment to the Senate tax reform bill would decrease the basis boost in DDAs to 125 percent for any project that is not complete and occupied by December 31, 2017. If this amendment stays in the final tax bill, it will cause a funding gap, which is estimated to be up to $560,000 for Heritage Point. Funding Gap #3 was not included in any of the documents submitted with the original Board Order. It is included in the revised Board Order, Resolution, and 33433 Summary Report. It does not need to be included in the legal documents until the need and final amount are determined. Staff has identified some potential sources to be available in the event this gap needs to be addressed as well, including additional Housing Successor, CDBG, Neighborhood Stabilization Program or HOME Investment Partnerships Act funds. Summary • Funding Gap #1, estimated at up to $440,000, will happen. This $440,000 is already reflected in the Board Order, the Resolution and the loan documents. • Funding Gap #2, estimated at up to $350,000 may or may not occur. This $350,000 is already reflected in the Board Order and the Resolution. It will not be reflected in the loan documents until the need and final amount are determined. • Funding Gap #3, estimated at up to $560,000, may or may not happen. This $560,000 is not reflected in the Board Order, the Resolution or the loan documents. This gap could be filled by using additional Housing Successor funds or by using HOME funds from HUD. Staffing is seeking authority to increase the amount of funds made available from the Housing Successor by $560,000, in the event it is needed. Cc: D. Twa, County Administrator X. Xxxxxxxx, County Counsel D.4 To: Board of Supervisors From: Xxxx Xxxxxxx, Director, Conservation & Development Department Date: December 12, 2017 Contra Costa County Subject: Disposition, Development and Loan Agreement – Heritage Point Development, North Richmond Area RECOMMENDATION(S):
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Basis Boost means up to a thirty percent (30%) boost to the Eligible Basis of the Project. “Board” shall mean the Members of the Authority.
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Examples of Basis Boost in a sentence

  • Basis Boost QualificationsWith regard to Housing Credits, HUD provides regulatory guidance on the effective date of Difficult Development Area (DDA) and Qualified Census Tract (QCT) lists for the purpose of determining whether a Development qualifies for an increase in eligible basis in accordance with Section 42(d)(5)(B) of the IRC.

  • Please note that a project located in a QCT or DDA is eligible to receive a 30% basis boost for new construction and/or rehabilitation and it is not subject to the State-Designated Basis Boost provision.

  • Basis Boost – An increase of up to 30% in eligible basis for a building in order to improve the financial feasibility of the building in a difficult to develop area, as determined by THDA in its sole discretion.

  • An Initial Application proposing new construction located in a Rural Urbanicity may be eligible for a Basis Boost.

  • CNI developments that receive Housing Credit may also receive a Basis Boost.

  • In this MTBA Program Description, only areas defined by HUD as Difficult Development Areas are eligible for the Basis Boost.

  • Basis Boost DeterminationsThe Code allows for a 30 percent basis boost for projects located in one of the following areas: • Qualified Census Tracts (listed in the Application)Designated by HUD as areas where 50 percent or more of the households have an income of less than 60 percent of the area median income; • Difficult Development Areas (DDAs) (listed in the Application)Designated by HUD as areas experiencing high construction, land, and utility costs relative to the area median income.

  • Initial Applications proposing developments located in a Rural Urbanicity may be eligible for a Basis Boost.

  • Initial Applications in the PHA Set–Aside may be eligible for a Basis Boost.

  • Basis Boost - An increase of up to 30% in eligible basis for a building in order to improve the financial feasibility of the building in a Difficult Development Area.

Related to Basis Boost

  • Three-Month Term SOFR Conventions means any determination, decision or election with respect to any technical, administrative or operational matter (including with respect to the manner and timing of the publication of Three-Month Term SOFR, or changes to the definition of “Floating Interest Period”, timing and frequency of determining Three-Month Term SOFR with respect to each Floating Interest Period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Company decides may be appropriate to reflect the use of Three-Month Term SOFR as the Benchmark in a manner substantially consistent with market practice (or, if the Company decides that adoption of any portion of such market practice is not administratively feasible or if the Company determines that no market practice for the use of Three-Month Term SOFR exists, in such other manner as the Company determines is reasonably necessary).

  • Basecoat means a coat of colored material, usually opaque, that is applied before graining inks, glazing coats, or other opaque finishing materials and is usually topcoated for protection.

  • Weighted Reference Asset Return means for each Reference Asset contained in the Reference Portfolio and on any day, the product of (i) the Reference Asset Return and (ii) the Reference Asset Weight.

  • Additional Book Basis Derivative Items means any Book Basis Derivative Items that are computed with reference to Additional Book Basis. To the extent that the Additional Book Basis attributable to all of the Partnership’s Adjusted Property as of the beginning of any taxable period exceeds the Aggregate Remaining Net Positive Adjustments as of the beginning of such period (the “Excess Additional Book Basis”), the Additional Book Basis Derivative Items for such period shall be reduced by the amount that bears the same ratio to the amount of Additional Book Basis Derivative Items determined without regard to this sentence as the Excess Additional Book Basis bears to the Additional Book Basis as of the beginning of such period.

  • Developed exclusively at private expense means development was accomplished entirely with costs charged to indirect cost pools, costs not allocated to a government contract, or any combination thereof.

  • Xxxx Group means collectively Xxxx Capital Fund V, L.P., Xxxx Capital Fund V-B, L.P., BCIP Associates, BCIP Trust Associates, L.P. and Xxxxxxxx Street Partners.

  • Universal Digital Loop Carrier (UDLC means the DLC system that has a CO terminal channel bank that is connected to the CO switches on the analog side.

  • Operating Cash Flow means the Company’s or a business unit’s sum of Net Income plus depreciation and amortization less capital expenditures plus changes in working capital comprised of accounts receivable, inventories, other current assets, trade accounts payable, accrued expenses, product warranty, advance payments from customers and long-term accrued expenses, determined in accordance with generally acceptable accounting principles.

  • Reference Balance Sheet shall have the meaning set forth in Section 3.06(a).

  • IntraLATA LEC Toll means IntraLATA Toll traffic carried solely by a Local Exchange Carrier and not by an IXC. "IntraLATA Toll Traffic" describes IntraLATA Traffic outside the Local Calling Area.

  • Interest exchange means the acquisition of an ownership or membership interest in a domestic entity as provided by Subchapter B, Chapter 10. The term does not include a merger or conversion.

  • Reference Portfolio Return means on any day, the weighted average return of the Reference Assets calculated as the sum of the Weighted Reference Asset Return of each of the Reference Assets comprising the Reference Portfolio.

  • Reference Asset Return means, in respect of a Reference Asset and an Exchange Business Day, an amount expressed as a percentage equal to (i) the Closing Price for such Reference Asset on such Exchange Business Day minus the Initial Reference Asset Price, divided by (ii) the Initial Reference Asset Price. The Reference Asset Return will be a price return and will not take into account dividends and/or distributions paid by the issuers or constituents of the Reference Assets.

  • Unconsolidated Affiliates means an Affiliate of the Borrower whose financial statements are not required to be consolidated with the financial statements of the Borrower in accordance with GAAP.

  • Xxxxx Group means Xxxxx and any Affiliate of Xxxxx.

  • Consolidated Group Pro Rata Share means, with respect to any Investment Affiliate, the percentage of the total equity ownership interests held by the Consolidated Group in the aggregate, in such Investment Affiliate determined by calculating the greater of (i) the percentage of the issued and outstanding stock, partnership interests or membership interests in such Investment Affiliate held by the Consolidated Group in the aggregate and (ii) the percentage of the total book value of such Investment Affiliate that would be received by the Consolidated Group in the aggregate, upon liquidation of such Investment Affiliate, after repayment in full of all Indebtedness of such Investment Affiliate.

  • business vertical means a distinguishable component of an enterprise that is engaged in the supply of individual goods or services or a group of related goods or services which is subject to risks and returns that are different from those of the other business verticals.

  • Automotive windshield washer fluid means any liquid designed for use in a motor vehicle windshield washer system either as an antifreeze or for the purpose of cleaning, washing, or wetting the windshield. Automotive windshield washer fluid does not include fluids placed by the manufacturer in a new vehicle.

  • Double check valve assembly means an assembly composed of two single, independently acting, check valves including tightly closing shutoff valves located at each end of the assembly and suitable connections for testing the water tightness of each check valve.

  • SAP Group means SAP Parent and any of its Associated Companies.

  • Best available control technology (BACT means an emissions limitation (including a visible emission standard) based on the maximum degree of reduction for each pollutant subject to regulation under CAA which would be emitted from any proposed major stationary source or major modification which the Department, on a case-by-case basis, takes into account energy, environmental, and economic impacts and other costs, determines is achievable for such source or modification through application of production processes or available methods, systems, and techniques, including fuel cleaning or treatment or innovative fuel combustion techniques for control of such pollutant. In no event shall application of best available control technology result in emissions of any pollutant which would exceed the emissions allowed by any applicable standard under 7 DE Admin. Code 1120 and 1121. If the Department determines that technological or economic limitations on the application of measurement methodology to a particular emissions unit would make the imposition of an emissions standard infeasible, a design, equipment, work practice, operational standard, or combination thereof, may be prescribed instead to satisfy the requirement for the application of best available control technology. Such standard shall, to the degree possible, set forth the emissions reduction achievable by implementation of such design, equipment, work practice or operation, and shall provide for compliance by means which achieve equivalent results.

  • M2M Flowgate means Flowgates where constraints are jointly monitored and coordinated as defined and set forth in Schedule D to this Agreement.

  • SFTR means Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012;

  • Current Sick Leave means those days of sick leave for the current contract year, which leave is granted at the rate of one day of sick leave per month worked, or major part thereof.