LIHTC Program definition

LIHTC Program means the Low Income Housing Tax Credit program administered by the Authority under Section 42 of the Internal Revenue Code of 1986, as amended.
Sample 1Sample 2Sample 3
LIHTC Program means the Credit Program. "LIHTC Program" may be used interchangeably with the term "Credit Program" or "OAHTC Program".
Sample 1Sample 2Sample 3
LIHTC Program means the Low Income Housing Tax Credit Program authorized under Title I of the U.S. Housing Act of 1937, as amended, 42 U.S.C. 1437 et seq.
Sample 1Sample 2Sample 3

Examples of LIHTC Program in a sentence

  • The Agent fully understands that the Owner is or will be providing some or all of the units in the Development to persons of very low, low or moderate income solely for their residential use, as more fully described in the Regulatory Agreement, including any regulatory agreement/restrictive covenant that has been or may be entered into by the Owner for participation in the LIHTC Program.

  • Marketing and Leasing - Use its best efforts to market and promptly lease to Tenants who meet the Tenant Selection Criteria, all units which are or become vacant in the future, at rental rates approved by the Owner and not exceeding the maximum rates permitted by the Authority, the Regulatory Agreement or the LIHTC Program.

  • Comply with occupancy qualifications and rental restrictions required by the Regulatory Agreement, and, if applicable, all requirements of the LIHTC Program and any other agreements that may be executed by the Owner.

  • The Mortgagor must obtain written evidence substantiating the information given on all certifications of income and will retain such evidence in its files for the period prescribed by the LIHTC Program and the TCAP, or, in the case of a development that does not participate in the LIHTC Program, for not less than three years.

  • The maximum eligible household gross income for Affordable Housing Tenant households for each AHU at each AMI level shall be calculated and reset each year using HUD’s annual estimate of AMI for the WMSA as referenced above, adjusted for household size, and, if applicable, applied in accordance with LIHTC Program.

  • The Mortgagor must obtain written evidence substantiating the information given on all certifications of income and will retain such evidence in its files for the period prescribed by the LIHTC Program and the Section 1602 program.

  • This method of establishing annual rent charged to the Affordable Housing Tenant will continue to apply to all AHUs both during and after the period of time that the LIHTC Program is in effect for any of the AHUs and shall continue through the end of the lease term.

  • The Mortgagor agrees that the terms of this Agreement are essential to the making of the Mortgage Loan and the TCAP Loan, and that the enforcement of these covenants is necessary to preserve the LIHTC Program and the TCAP Loan benefits and, if applicable, the tax-exempt status of the bonds financing the Development.

  • Tenant shall maintain in its records the certifications and recertifications for five (5) years or for such longer periods as may be required by the LIHTC Program.

  • At such time as an AHU is not subject to the regulatory restrictions of the LIHTC Program (i.e., after the expiration of the extended use restriction period), then Tenant need only comply with requirements of (b) with respect to such AHU Unit.


More Definitions of LIHTC Program

LIHTC Program means the Low Income Housing Tax Credit (“LIHTC”) program requirements described by I.R.C. § 42 and other relevant provisions of the Internal Revenue Code, its implementing regulations, and relevant IRS guidance.
Sample 1
LIHTC Program means the federal Low-Income Housing Tax Credit Program established by 26 U.S.C. § 42 and administered in California by the California Tax Credit Allocation Committee.
Sample 1
LIHTC Program means the Low Income Housing Tax Credit program administered by the Authority under section 42 of the United States Internal Revenue Code of 1986, 26 USC §42.
Sample 1

Related to LIHTC Program

  • Loan Program means the State Treasurer’s Interest-Free Loan Program for Colorado School Districts authorized pursuant to the Loan Program Statutes.

  • Marketing program means a program established by order of the director pursuant to this act prescribing rules and regulations governing the marketing for processing, distributing, selling, or handling an agricultural commodity produced in this state or agricultural commodity input during a specified period and

  • Development Program means the implementation of the development plan.

  • Pilot program means the pilot program identified and funded through the Funding Agreement and described in that Funding Agreement and its attachments.

  • E-Verify Program above means the employment verification program administered by the United States Department of Homeland Security, the Social Security Administration, or any successor program.

  • WOSB Program Repository means a secure, Web-based application that collects, stores, and disseminates documents to the contracting community and SBA, which verify the eligibility of a business concern for a contract to be awarded under the WOSB Program.

  • Prescription monitoring program means the electronic system within the Department of Health Professions that monitors the dispensing of certain controlled substances.

  • Educational program means a program for educating and preparing physician assistants which is approved by the board.

  • Nursing program means a series of courses leading to an LPN certificate or an ADN degree provided through a Wyoming community college; or a BSN degree or a Master’s degree provided through the University of Wyoming; or, in the case of a candidate for a doctoral degree, provided through an institution offering the required nursing education courses under contract with the WICHE, or in a distance nursing education program provided through a university that is regionally accredited.

  • DTC/FAST Program means the DTC’s Fast Automated Securities Transfer Program.

  • the Programme means the Government programme for delivery of smart metering in Great Britain. The Programme is responsible for overseeing the development and implementation of policy, including establishing the commercial and regulatory framework to facilitate the roll-out;

  • Education program means any program that is principally engaged in the provision of education, including, but not limited to, early childhood education, elementary and secondary education, postsecondary education, special education, job training, career and technical education, and adult education, and any program that is administered by an educational agency or institution.

  • Research-based means a program or practice that has some research demonstrating effectiveness, but that does not yet meet the standard of evidence-based practices.

  • Child day program means a regularly operating service arrangement for children where, during the absence of a parent or guardian, a person or organization has agreed to assume responsibility for the supervision, protection, and well-being of a child under the age of 13 for less than a 24-hour period.

  • Training program means an NCA-approved Iowa college, the Iowa law enforcement academy or an Iowa hospital approved by the department to conduct emergency medical care training.

  • Virginia Stormwater Management Program or “VSMP” means a program approved by the State Board after September 13, 2011, that has been established by a locality to manage the quality and quantity of runoff resulting from land-disturbing activities and shall include such items as local ordinances, rules, permit requirements, annual standards and specifications, policies and guidelines, technical materials, and requirements for plan review, inspection, enforcement, where authorized in this article, and evaluation consistent with the requirements of this article and associated regulations.

  • Education program or activity means locations, events, or circumstances for which the school district exercises substantial control over both the respondent and the context in which the sexual harassment occurs and includes school district education programs or activities that occur on or off of school district property.

  • Program Plan means the tobacco settlement program plan dated February 14, 2001, including exhibits to the program plan, submitted by the authority to the legislative council and the executive council, to provide the state with a secure and stable source of funding for the purposes designated by section 12E.3A and other provisions of this chapter.