Difficult Development Area definition

Difficult Development Area means any area designated by the Secretary of Housing and Urban Development as having high construction, land, and utility costs relative to Area Gross Median Income in accordance with Section 42(d)(5) of the Code.

Difficult Development Area or “DDA” means any area designated by the Secretary of Housing and Urban Development as having high construction, land, and utility costs relative to area median gross income in accordance with Section 42(d)(5), of the Code. A list of the 2003 Florida DDAs is adopted and incorporated herein by reference. A copy of such list is available on FHFC’s web site www.floridahousing.org. The United States Department of Housing and Urban Development maintains the official DDA list. The incorporated Florida DDA list is designed to assist the Applicant in the Application process. Applicants are responsible for providing Florida Housing with accurate DDA information.

Difficult Development Area or “DDA” means any area designated by the Secretary of Housing and Urban Development as having high construction, land, and utility costs relative to area median gross income in accordance with

Examples of Difficult Development Area in a sentence

• Projects located in a HUD-designated Qualified Census Tract (QCT) or a HUD-designated Difficult Development Area (DDA) may be eligible for a 30% basis increase (basis boost).

• AHFA will calculate the Housing Credit allocation at a maximum of 9% of AHFA’s determined Eligible Basis for any new building or substantial rehabilitation of an existing building.Under Section 42(d)(5)(B)(v), AHFA may designate one or more buildings in a project to receive an increase in Eligible Basis in order for the building(s) to be financially feasible as part of a Qualified Affordable Housing Project and shall be treated as located in a Difficult Development Area.

• Multiphase Development: With 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 (i.e. basis boost) in accordance with Section 42(d)(5)(B) of the IRC.

• Projects located in a HUD-designated Qualified Census Tract or a HUD-designated Difficult Development Area (DDA) are eligible for a 30% basis increase (basis boost).

• Areas designated as a Qualified Census Tract or Difficult Development Area may be eligible for an increase in allowable basis as defined under Section III.H. of this Plan.

More Definitions of Difficult Development Area

Difficult Development Area or “DDA” means any area designated by the Secretary of Housing and Urban Development as having high construction, land, and utility costs relative to area median gross income in accordance with section 42(d)(5) of the Code. The United States Department of Housing and Urban Development maintains the official DDA list. Applicants are responsible for providing Florida Housing with accurate DDA information.

Difficult Development Area or “DDA” means any area designated by the Secretary of Housing and Urban Development as having high construction, land, and utility costs relative to area median gross income in accordance with Section 42(d)(5), of the Code IRC. A list of the DDAs is adopted and incorporated herein by reference. A copy of such list is available on FHFC’s web site www.floridahousing.org.

Difficult Development Area means any area designated by the Secretary of Housing and Urban Development as having high construction, land, and utility costs relative to area median gross income in accordance with section 42(d)(5) of the IRC.

Difficult Development Area means any area that is so designated by the Secretary of the United States Department of Housing and Urban Development (HUD) as an area which has high construction, land, and utility costs relative to area median family income.

Difficult Development Area means any area that is so designated by the Secretary of HUD as an area which has high construction, land, and utility costs relative to area median family income.

Difficult Development Area or “DDA” means any area designated by the Secretary of Housing and Urban Development as having high construction, land, and utility costs relative to area median gross income in accordance with section 42(d)(5) of the Code. A list of the DDAs is adopted and incorporated by reference. A copy of such

Difficult Development Area or “DDA” means any area designated by the Secretary of Housing and Urban Development as an area which has high construction, land, and utility costs relative to area median gross income. For buildings placed in service after July 30, 2008, a state agency can designate buildings to be treated like a DDA if additional credits are needed for financial feasibility and if not tax-exempt bond-financed.