Experienced Developer definition

Experienced Developer means a Developer who was entitled by written agreement to receive at least 50% of the Developer Fees on a prior low-income housing tax credit Project that has achieved 100% qualified occupancy and for which the applicable state housing finance agency has conducted a compliance audit which revealed no significant problems.
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Experienced Developer means a Developer who was entitled by written agreement to receive at least 50% of the Development Fees on a prior low-income housing tax credit Project that has achieved 100% qualified occupancy and for which the applicable state
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Examples of Experienced Developer in a sentence

  • On or before May 1, 2013, the Experienced Developer and EEG shall provide City evidence of equity and grant funding for the Proposed Project in the amount of at least $68,000,000 (the "Equity and Grant Funding").

  • On or before July 1, 2013, the Experienced Developer and EEG shall provide City evidence of equity funding and grant funding in all its forms (sponsorships, grants, donations, gifts, contracts for goods or services) for the Proposed Project in the amount of at least $59,000,000 (the "Project Funding").

  • The evidence of the Project Funding shall be comprised of letters of commitment or contracts to provide the above described funding only conditioned on the (i) Property being conveyed to the Experienced Developer (or an entity created by the Experienced Developer and EEG for development of the Proposed Project) and (ii) approval of the necessary land use entitlements for the Proposed Project.

  • The evidence of the Equity and Grant Funding shall be comprised of letters of commitment to provide funding only conditioned on the (i) Property being conveyed to the Experienced Developer (or an entity created by the Experienced Developer for development of the Proposed Project) and (ii) approval of the necessary land use entitlements for the Proposed Project.