Examples of Cost Certification in a sentence
During credit underwriting and at the time of Final Cost Certification, if it is determined that there are buildings located outside of the applicable SADDA ZCTA, the Corporation reserves the right to reduce the Housing Credit Allocation if the eligible basis for the building(s) located in the applicable SADDA ZCTA is not sufficient to support the request amount.
The Applicant entity may be changed without Board approval after a Final Cost Certification Package has been approved by the Corporation and the IRS Forms 8609 have been issued; however, the Corporation must still be notified in writing of the change.
If, at the time of Final Cost Certification, the Tax‐Exempt Bond Amount is less than 50%, developer fees will have to be reduced by an amount to ensure compliance with the 50% Test.
Projects must meet this limit at Letter of Intent, Application, 10% Cost Certification and Final Cost Certification.
For projects of more than 10 units, the final Cost Certification must be prepared by an independent CPA.