Tax Credit Regulatory Agreement definition

Tax Credit Regulatory Agreement means the extended low-income housing commitment, regulatory agreement or restrictive covenants executed or to be executed by Borrower and Tax Credit Agency and properly recorded in the appropriate land records for the Property Jurisdiction, setting forth certain terms and conditions under which the Mortgaged Property is to be operated and which must meet the requirements of Tax Code Section 42(h)(6)(B).

Tax Credit Regulatory Agreement means the regulatory agreement which may be required to be recorded against the Property with respect to the issuance of Tax Credits for the Project.

Tax Credit Regulatory Agreement means, individually and collectively, any and all extended low-income housing commitments, regulatory agreements and/or restrictive covenants assumed, executed or to be executed by the Borrower and the Tax Credit Agency and properly recorded in the appropriate land records for the State, setting forth certain terms and conditions under which the Project is to be operated and which must meet the requirements of Section 42(h)(6)(B) of the Code.

Examples of Tax Credit Regulatory Agreement in a sentence

• DHCD reserves the right to charge a reasonable monitoring fee to perform compliance monitoring functions after the completion of the tax credit compliance period (as defined in Internal Revenue Code Section 42) for the remainder of the term of the Tax Credit Regulatory Agreement and Declaration of Restrictive Covenant.

• An Extended Use Agreement in accordance with the Code and Tax Regulations has been incorporated into the Tax Credit Regulatory Agreement.

• Upon execution, the Tax Credit Regulatory Agreement must be filed in the mortgage/conveyance records of the Parish within which the Project is located.

• DHCD retains the right to require such certifications and review for any additional term that a Low Income Housing Tax Credit Regulatory Agreement between the owner and DHCD (or its successors) remains in effect.

• To enforce these and other program use restrictions, DHCD will require that each project owner enter into a Tax Credit Regulatory Agreement and Declaration of Restrictive Covenants (“the Agreement”).

More Definitions of Tax Credit Regulatory Agreement

Tax Credit Regulatory Agreement means the regulatory agreement required by CTCAC to be filed in the Official Records against the Leasehold in exchange for issuance of the Low Income Housing Tax Credits.

Tax Credit Regulatory Agreement means the regulatory agreement(s) which may be required to be recorded against the Site with respect to the issuance of Tax Credits for the Project. The Tax Credit Regulatory Agreement shall be subordinate and junior to the Ground Lease, City Covenants and Entitlement.

Tax Credit Regulatory Agreement means the regulatory agreement which may be required to be recorded against the Site with respect to the issuance of Tax Credits.

Tax Credit Regulatory Agreement means the regulatory agreement(s) which may be required to be recorded against the Site with respect to the issuance of Tax Credits for the Project. The Tax Credit Regulatory Agreement shall be subordinate and junior to the Entitlements.

Tax Credit Regulatory Agreement means that certain regulatory agreement to be recorded against the Site as a condition of the receipt by the Project of an allocation by the TCAC of Low Income Housing Tax Credits pursuant to Section 42 of the Internal Revenue Code and/or California Revenue and Taxation Code Sections 17057.5, 17058, 23610.4 and 23610.5 and California Health and Safety Code Section 50199, et seq.

Tax Credit Regulatory Agreement means the regulatory agreement which it is contemplated may be required to be recorded against Area A with respect to the issuance of Tax Credits in the event a preliminary reservation is obtained from TCAC for the Rental Project.

Tax Credit Regulatory Agreement means the regulatory agreement(s) which may be required to be recorded against the Site with respect to the issuance of Tax Credits for Phase