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MAP Lender Underwriters Narrative New Construction / Substantial Rehabilitation Sections 220, 221(d)(3), 221(d)(4), 231, 241(a) Reapplication or Firm Commitment Application Submission(030114) Introductions
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New construction substantial rehabilitation involves the construction of new buildings or significant renovation of existing buildings to meet certain requirements set forth by local regulations or codes.
Property owners or developers who are undertaking new construction substantial rehabilitation projects are required to file the necessary documentation with the appropriate authorities.
To fill out new construction substantial rehabilitation, property owners or developers must provide detailed information about the project, including plans, permits, and cost estimates.
The purpose of new construction substantial rehabilitation is to ensure that new buildings or renovations are in compliance with safety and zoning regulations.
Information such as project plans, permits, cost estimates, and compliance with local regulations must be reported on new construction substantial rehabilitation projects.
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