Statutes, codes, and regulations
Illinois Administrative Code
Title 47 - HOUSING AND COMMUNITY DEVELOPMENTPart 350 - LOW-INCOME HOUSING TAX CREDIT ALLOCATION
Subpart B - LOW-INCOME HOUSING TAX CREDIT ALLOCATIONS
Section 350.206 - Allocation Amount - Project Feasibility

Ill. Admin. Code tit. 47 § 350.206

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Current through Register Vol. 48, No. 52, December 27, 2024
Section 350.206 - Allocation Amount - Project Feasibility

The Authority shall not allocate Tax Credits to a Project in an amount greater than the amount the Authority determines is necessary for the financial feasibility of the Project and its viability as a qualified Low-Income housing project throughout the Credit Period. In making this determination, the Authority shall consider the sources and uses of funds and the total amount of financing for the Project:

a) The date of the conditional Reservation of the Tax Credits for the Project; and
b) The date the Project is placed in service.

Ill. Admin. Code tit. 47, § 350.206

Amended at 21 Ill. Reg. 9012, effective June 26, 1997