Mo. Code Regs. tit. 4 § 85-5.080

Current through Register Vol. 49, No. 21, November 1, 2024.

Section 4 CSR 85-5.080 - Phased Projects

PURPOSE: This proposed amendment eliminates duplicative paperwork by allowing a phased project to submit a single preliminary application instead of a separate preliminary application for each phase of the project.

(1) To qualify as a phased project, an applicant must-

(A) Apply for the federal historic preservation tax incentives program as a phased project;

(B) Submit a single preliminary application to the department for the entire phased project; and

(C) Submit a copy of the federal historic preservation tax incentives program phased project application with the preliminary application.

(2) The preliminary application for a phased project must mirror the phasing listed in the federal historic preservation tax incentives program project application.

(3) Each construction period (phase) of a phased project must be described such that expenditures are clearly identified as incurred during an individual phase.

(4) All amendments to a preliminary application for a phased project must be identical to amendments to the applicant's federal historic preservation tax incentives program phased project application, a copy of which must be submitted to the department. An amended preliminary application for a phased project shall be evaluated as an amendment to the project phase being modified.

(5) Each construction period of a phased project must meet all program requirements on its own, without consideration of any other phase of the project.

(6) The director shall have the authority to authorize tax credits for a phased project preliminary application using an aggregate estimate with flexibility among phases for projects that meet the requirements of 4 CSR 85-5.020(1)(I).

4 CSR 85-5.080

Adopted by Missouri Register May 1, 2019/Volume 44, Number 9, effective 3/30/2019

Amended by Missouri Register October 1, 2019/Volume 44, Number 19, effective 11/30/2019

Amended by Missouri Register February 1, 2024/volume 49, Number 03, effective 3/31/2024.