SECTION 330:36-8-7. Eligibility

(a)   In determining the eligibility of a Development with multiple Allocations or Credit periods, OHFA will only consider the last Allocation. Owners may not submit a QCPA or QCA until after the 14th year of the Compliance Period:

(1)   for the last Building Placed-In-Service (Developments with Buildings that were Placed-In-Service in different years), or

(2)   for the last Allocation to the Development or any Building therein (Developments with multiple Allocations).

(b)   OHFA will not consider a QCA until the Owner secures a complete, unconditional waiver of all purchase options, including a Nonprofit general partner's right of first refusal.

(c)   Properties that do not meet the basic physical compliance standards that are (or would be) necessary to claim some or all of the Allocation are ineligible for consideration. Owners must correct all such compliance issues or violations prior to submitting a QCA.

[Source: Added at 23 Ok Reg 2980, eff 7-13-06; Amended at 28 Ok Reg 1658, eff 1-1-12]