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NEW YORK CITY HOUSING DEVELOPMENT CORPORATION 2013 OWNER CERTIFICATION OF COMPLIANCE 100 PERCENT LIH TC PROJECTS CERTIFICATION PERIOD: January 1, 2013, through December 31, 2013, BUILDING IDENTIFICATION
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How to fill out 100 percent lihtc projects
How to fill out 100 percent LIHTC projects:
01
Gather all necessary forms and documents required for the LIHTC application process, such as the application form, project description, cost certification, and tenant income certification forms.
02
Review the LIHTC program requirements and guidelines to ensure compliance with all regulations and eligibility criteria.
03
Complete the application form accurately and thoroughly, providing all requested information regarding the project, including the development team, financing sources, and proposed timeline.
04
Prepare a comprehensive project description that outlines the details of the development, including the location, number of units, amenities, and any special features or accessibility considerations.
05
Provide a detailed cost certification that includes all eligible project costs, such as land acquisition, construction, and financing expenses, along with documentation to support these costs.
06
Collect and review tenant income certification forms to determine the income eligibility of prospective tenants and ensure compliance with LIHTC program requirements.
07
Submit the completed LIHTC application and all supporting documents to the appropriate state or local housing agency within the specified deadline.
08
Follow up with the housing agency to track the progress of the application and address any additional requests for information or clarification.
09
If approved, work closely with the housing agency and comply with all ongoing LIHTC program requirements, including reporting and monitoring obligations, throughout the life of the project.
Who needs 100 percent LIHTC projects:
01
Affordable housing developers who are seeking to finance the construction or rehabilitation of rental housing units for low-income individuals and families.
02
State or local housing agencies that administer the Low-Income Housing Tax Credit (LIHTC) program and are responsible for allocating tax credits to eligible projects.
03
Low-income individuals and families in need of safe, affordable housing options who meet the income eligibility criteria set forth by the LIHTC program.
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What is 100 percent lihtc projects?
100 percent LIHTC projects are Low-Income Housing Tax Credit projects in which 100 percent of the units are designated for low-income individuals or families.
Who is required to file 100 percent lihtc projects?
Developers or owners of affordable housing projects that receive LIHTC funding are required to file 100 percent LIHTC projects.
How to fill out 100 percent lihtc projects?
100 percent LIHTC projects can be filled out using the appropriate forms provided by the IRS and following the guidelines outlined in the LIHTC program.
What is the purpose of 100 percent lihtc projects?
The purpose of 100 percent LIHTC projects is to provide affordable housing options for low-income individuals and families.
What information must be reported on 100 percent lihtc projects?
Information such as unit occupancy, rent levels, income qualifications of tenants, and compliance with LIHTC program requirements must be reported on 100 percent LIHTC projects.
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