Mo. Code Regs. tit. 4 § 170-5.200

Current through Register Vol. 49, No. 24, December 16, 2024

Section 4 CSR 170-5.200 - Application

PURPOSE: This rule establishes the procedures for submitting applications and the criteria and priorities for the approval or disapproval of these applications.

(1) Eligible agencies wanting to receive Affordable Housing Assistance Program (AHAP) tax credits must make application to the Missouri Housing Development Commission (commission) staff for approval and receive approval before an eligible donation from an eligible donor is received by the eligible agency. If approved, the commission staff will issue a reservation letter notifying the eligible agency of the approval and setting out the conditions of the reservation.

(2) All applications shall be made on the forms supplied by the commission staff and available on the commission's website or by contacting the commission staff directly.

(A) Applications for production credits consisting of construction or rehabilitation of affordable housing units and/or donation of property, or for providing affordable housing units to eligible occupants through an affordable housing rent subsidy program by an eligible agency will include, but not be limited to, those requirements set forth in sections 135.802.1, 135.802.6, and 32.111, RSMo.

(B) Applications for operating assistance credits providing for general operating assistance to eligible agencies, in addition to the requirements set forth in sections 135.802.1, 135.802.6, and 32.111, RSMo, must specify-

1. The projected use of the eligible donation with respect to qualified operating expenses;

2. The need for the eligible donation; and

3. The leverage with additional resources.

(C) The commission staff may request any additional information it determines necessary to evaluate any application.

(3) An application fee and a tax credit fee shall be charged in an amount necessary to cover the commission's expenses. These fees may be adjusted by the commission staff from time-to-time and shall not be paid for out of eligible donation funds.

(4) Initial applications for production credits may be submitted at any time during the period from July 1 through April 30. The initial applicant may have an opportunity to request an increase and extension of the reservation in June subject to commission staff approval.

(5) Applications for operating assistance credits may be made in one (1) or both of two (2) application rounds, with an opportunity to request an increase reservation at the end of the fiscal year, subject to commission staff approval.

(6) Applications may be accepted at other times during the year at the discretion of the commission staff.

(7) All applications must comply with the AHAP limitations set forth in 4 CSR 170-5 and all applicable state and federal requirements, including, but not limited to, sections 32.100-32.125 and 135.802, RSMo.

(8) In all cases where the application is for production credits, and the applicant has not already done so, the commission staff shall notify the state senator, state representative, and the chief elected official of the jurisdiction in which the property is located upon receipt of the application. The elected officials shall be offered thirty (30) days to comment on the application.

4 CSR 170-5.200

AUTHORITY:sections 32.111, 32.112, and 215.030(5), (12), and (19), RSMo 2000.* Original rule filed May 24, 2010, effective Jan. 30, 2011 .

*Original authority: 32.111, RSMo 1990, amended 1993, 1996, 1998, 1999; 32.112, RSMo 1996, amended 1999; and 215.030, RSMo 1969, amended 1974, 1982, 1985, 1989, 1993, 1995, 1998.