Rule 122:29-1-07 | Rescission of tax credit certification.
(A) If the owner does not timely provide the start of construction report or fails to demonstrate the project has commenced construction as required by paragraph (A) of rule 122:29-1-06 of the Administrative Code, the director will provide notice to the owner of such failure and rescind certification and preliminary approval for tax credit of the project.
(B) In addition to paragraph (A) of this rule, the director may rescind certification and preliminary approval for tax credit if:
(1) The owner fails to timely provide a construction progress report and does not cure such failure within thirty days of written notice from the director;
(2) The director reasonably determines, based on the construction progress report that the project has failed to make sufficient progress towards completion in consideration of the schedule provided by the owner;
(3) The director reasonably determines that the owner has abandoned the project or the owner informs the director it has abandoned the project; or
(4) The applicant is found by the director to have provided false information to the director or any other entity of the state of Ohio in any way connected to the certification of the project or determination of any amount of tax credit to the owner or applicant under section 122.09 of the Revised Code.
(5) The applicant does not execute a tax credit agreement with the director within ninety days of certification of the project.
(6) The applicant does not pay the servicing fee under paragraph (B) of rule 122:29-1-08 of the Administrative Code within ninety days of certification.
Last updated May 26, 2026 at 7:51 AM
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