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2020_0518_CCPacket
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2020_0518_CCPacket
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Roseville City Council
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Council Agenda/Packets
Meeting Date
5/18/2020
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Attachment D <br />Ð Low Income Units Ñ means the Dwelling Units in the Project designated for occupancy by <br />Low Income Tenants pursuant to Section 4(a) of this Regulatory Agreement. <br />Ð Median Income for the Area Ñ means the median yearly income for households of an <br />applicable size in the applicable Primary Metropolitan Statistical Area as most recently determined <br />by the Secretary of Housing and Urban Development under Section 8(f)(3) of the Housing Act, or, <br />if such figures are no longer available, the method of calculation is substantially altered, or the <br />programs under Section 8(f) are terminated, the Governmental Lender shall provide the Borrower <br />with another income determination that is reasonably similar to the method used by the Secretary <br />prior to such termination. <br />Ð Note Ñ means the Governmental LenderÓs Multifamily Housing Revenue Refunding Note <br />(Twin Lakes Family Apartments Project), Series 2020, issued in the original aggregate principal <br />amount of $34,000,000. <br />Ð Project Ñ has the meaning assigned to such term in the recitals to this Regulatory <br />Agreement. <br />Ð Qualified Project Period Ñ means the period beginning on the later of the date of issuance <br />of the Note and the first day on which 10% of the Dwelling Units in the Project are occupied and <br />ending on the latest of: <br />(i) the date which is 15 years after the date on which 50% of the Dwelling Units <br />in the Project are occupied; <br />(ii) the first day on which no tax-exempt private activity bond issued with <br />respect to the Project is outstanding, or <br />(iii)the date on which any assistance provided with respect to the Project under <br />Section 8 of the United States Housing Act of 1937 terminates. <br />Ð Regulatory Agreement Ñ means this Amended and Restated Regulatory Agreement, <br />together with any amendments or supplements hereto. <br />Ð Resolution Ñ means, Resolution No. ____, adopted by the City Council of the <br />Governmental Lender on May 18, 2020, authorizing the issuance of the Note. <br />Ð Section 474A Penalty Ñ means the penalty described in Minnesota Statutes, Section <br />474A.047, subdivision 3, as applied to the Project. <br />Ð State Ñ means the State of Minnesota. <br />Ð Treasury Regulations Ñ means the regulations promulgated or proposed by the Department <br />of the Treasury pursuant to the Code from time to time or pursuant to any predecessor statute to <br />the Code. <br />Unless the context clearly requires otherwise, as used in this Regulatory Agreement words <br />of the masculine, feminine or neuter gender shall be construed to include each other gender when <br /> 4 <br />12519391v3 <br /> <br />
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