Subsidy Layering Review definition

Subsidy Layering Review means the DCA evaluation of projects using DCA program funds in combination with other governmental assistance to ensure that no more than the necessary amount of DCA program funds is invested in any one project to provide affordable housing. For HOME funds, the subsidy layering review will be conducted in accordance with the requirements set forth in the HUD CPD Notice 98-01 guidelines required by 24 CFR §92.250(b). For tax credit properties, the subsidy layering review is conducted at application, carryover, and before issuance of 8609s.
Subsidy Layering Review or “911 Review” means the review conducted under subsidy layering guidelines adopted by HUD in order to assure that excessive subsidies are not provided to Projects which receive both Tax Credits and other governmental assistance.
Subsidy Layering Review means the DCA evaluation of projects using DCA program funds in combination with other governmental assistance to ensure that no more than the necessary amount of DCA program funds is invested in any one project to provide affordable housing. For HOME funds, the subsidy layering review will be conducted in accordance with the requirements set forth in the US Department of Housing and Urban Development CPD Notice 98-01 guidelines required by 24 CFR

Examples of Subsidy Layering Review in a sentence

  • MFA will perform an internal Subsidy Layering Review only if required by an MFA funding source.

  • Although the same standards will apply for Projects subject to Subsidy Layering Review, they will require Board approval for Subsidy Layering purposes whenever they exceed the federally defined “Ceiling Standard” limits, and only five such excess fee amounts can be approved in any given year.

  • If applicable, ADOH will perform a Subsidy Layering Review (SLR) in conjunction with the underwriting.

  • Subsidy Layering Review application and HUD 2880 form (if applicable).

  • Subsidy Layering Review Fee – The fee the Applicant shall pay will be determined by the contract between the Corporation and the Credit Underwriter.

  • The project identified above intends to participate in the LIHTC Program and is subject to a Subsidy Layering Review by HUD prior to the execution of the Agreement.

  • Projects must also complete an Environmental Review under the National Environmental Policy Act (NEPA), a Subsidy Layering Review (SLR), and are subject to HUD Section 3 hiring goals and Davis-Bacon labor standards.

  • The Sponsor must also demonstrate compliance with the Department of Housing and Urban Development (HUD) Subsidy Layering Review standards and Safe Harbor limits for both yield generated and Expense to Income Ratio.

  • Applicant must state if a HUD/USDARD Subsidy Layering Review is required.

  • The OHA will rely upon a rent comparability survey and the rent schedule authorized in the HUD approved Subsidy Layering Review to determine initial PBV contract rents for the project.


More Definitions of Subsidy Layering Review

Subsidy Layering Review means the DCA evaluation of projects using DCA program funds in combination with other governmental assistance to ensure that no more than the necessary amount of DCA program funds is invested in any one project

Related to Subsidy Layering Review

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