№ files_lp_3_process_7_015845
Legal agreement establishing lien and long-term land use restrictions for a low income housing tax credit rental housing project in Indiana under Section 42 of the Internal Revenue Code.
Document Type: Notice of Lien and Extended Use Agreement
Program: Low Income Housing Tax Credit (LIHTC) Program
Legal Basis: Section 42 of the Internal Revenue Code
Governing Plan: Qualified Allocation Plan for the State of Indiana (2022 QAP)
State: Indiana
Administering Authority: Indiana Housing and Community Development Authority
Parties: Owner and Indiana Housing and Community Development Authority
Subject Property: Real Estate described in Exhibit A
Project Type: Rental Housing Development
Financing Source: Low Income Housing Tax Credits and Tax-Exempt Bonds
Compliance Period: 15 years
Extended Use Period: Additional 15 years following Compliance Period
Total Restriction Period: 30 years
Recording Requirement: Office of the Recorder of the applicable Indiana County
Key Provisions: Income and rent restrictions, minimum set-aside election, occupancy requirements, lien and restrictive covenants running with the land
Price: 8 / 10 USD
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