SECTION 330:36-8-5. Policies and Procedures

Latest version.

(a)   LIHTC Developments that received an Allocation of Credits between 1990-2018 are eligible to submit a Qualified Contract Preliminary Application (QCPA) after the end of year 14 of the Compliance Period. This is available unless the Owner voluntarily waives the right to a Qualified Contract in the Application.
(b)   OHFA will develop a Qualified Contract Application (QCA) process to administer requests from eligible Owners for a Qualified Contract pursuant to Code Section 42(h)(6)(E)(i)(II).
(c)   In keeping with the clear purpose of IRS Code Section 42, OHFA will resolve every case of doubt or interpretation in determining the Qualified Contract Price (QCP), both with regard to the overall process and for particular properties, in favor of a lower value.

[Source: Added at 23 Ok Reg 2980, eff 7-13-06; Amended at 28 Ok Reg 1658, eff 1-1-12; Amended at 30 Ok Reg 1987, eff 1-1-14; Amended at 37 Ok Reg 1717, eff 1-1-21]

                    
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