Rule 175-12-02 | Application schedule and procedures.
(A) Project development owners are responsible for submitting the application and serving as lead applicant, unless a designee for lead applicant is named. Project development owners may designate another member of the development team as the lead applicant by providing sufficient proof that the project development owner has approved such designee pursuant to the project development owners official designation process or legislative bodys resolution.
(B) During an application period, a project development owner or the designee may apply to the director on a form as approved and made available by the director. Specific application submission schedules shall be established by the director in the plan or program policies published before each application period.
The project development owner or designee must submit an application that complies with the program policies as established by the director to be evaluated for a single-family tax credit. The application will require the project development owner or designee to submit the following information:
(1) The name and address of the project development owners designated reporter;
(2) The name and address of all members of the project development team;
(3) A commercially reasonable estimate of the qualified projects development costs; and,
(4) Any other information the director may require through the program plan, policies, or application.
(C) The director shall review applications for completeness and may request that project development owner or designee provide missing or additional information following their application submission. A project development owner or designee may only submit missing information upon request from the director. If an application is incomplete and the project development owner or designee does not submit the requested information within a timeframe established in the program plan or policies, the director shall notify the project development owner and designee in writing that the application has been rejected.
(D) A rejection issued by the director for a specific application period does not prohibit a project development owner from submitting an application in a future application period.
Last updated April 15, 2024 at 8:24 AM
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