99-346-35 Me. Code R. § 4

Current through 2024-51, December 18, 2024

Section 346-35-4 - Notice of Reservation of Credit

a. MaineHousing will issue a notice of reservation of State Credit for Qualified Maine Projects as follows:

i. the notice of reservation will be issued at the same time as the Notice to Proceed described in the Qualification Allocation Plan;

ii. the notice of reservation will remain in effect as long as the Notice to Proceed remains in effect; and

iii. the notice of reservation may include State Credit to be allocated in future years.

b. MaineHousing will issue a notice of reservation of State Credit for Qualified Rural Development Preservation Projects after receipt of the following:

i. An approval of transfer issued by Rural Development Headquarters;

ii. Current appraisal and capital needs assessment in compliance with Rural Development requirements;

iii. Repair plan approved by Rural Development; and

iv. Any additional documents needed by MaineHousing to determine the amount of credit.

99-346 C.M.R. ch. 35, § 4