Agenda - Council Work Session - 01/10/2012

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Release of Information Authorization Form (HTC Form 17): To be completed by the developer/owner and if known, the management firm. Determination of Tax Credit Form (optional) (HTC Form 8): Complete to determine the maximum allowed tax credit amount (results on this form should be cross- referenced with Section IX. H. of the Minnesota Multifamily Rental Housing Common Application form). 4. Submittals: Threshold Evidence: For Round 1, provide evidence of meeting one of the threshold types defined in Article 6.2 of the Minnesota Housing QAP. A copy of the QAP and Sample Letter Format are located in the Housing Tax Credit Allocation or Housing Tax Credits Reference Materials sections. Cautionary note: In meeting the requirements of thresholds, fractions of units are not counted as a whole unit. Where unit percentage calculations result in a fraction of a unit being required, the fraction of a unit must be rounded up to next whole unit. Application Fee: Submit a check for the appropriate application fee (See Chapter 9). Evidence of Site Control: (submit electronically) Evidence of title or adequate site control must be submitted with the application. Acceptable evidence includes the following: warranty deed, contract for deed, purchase commitment, option, or letter of intent from governmental body for sole developer, etc. The evidence of site control must be current, fully executed and extend to anticipated date of carryover allocation, placed in service or provide provisions for extension. For allocation, an attorney's opinion that the applicant has ownership of the property will be required in accordance with Section 42. Owners should be cautioned that tax credit reservations are site specific and the entire described property is subject to the terms and covenants of the Minnesota Housing Declaration of Land Use Restrictive Covenants for Housing Credits. Loss of site control will result in cancellation of Reservation or Carryover allocation. Minnesota Housing will not accept applications from different applicants for the same site. Legal description of land (not property Tax ID Number): Submit on a separate 8%2" by 11" sheet of paper labeled "Exhibit A, Legal Description". Location map*: (submit electronically) Provide a legible map including major roads, cross streets and clear directions to the site. Do not use a zoning map for a location map. A complete city map is required for projects located outside the seven county metro area. Site maps must identify the location of: • usable park space/dedicated walking or biking trails, • public schools, • sources of employment, • shopping and retail services, • public transit routes and stops, • regional and interregional transportation corridors and transit ways, • recreational facilities, • social and special service institutions, • hospitals and health clinics, • licensed child care centers, and • competitive developments. Also, provide a list with exact distances from the proposed housing to each of the items above. 2012 Housing Tax Credit Procedural Manual I 34