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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 />142(a)(7) and Section 142(d) of the Code and all applicable Treasury Regulations promulgated <br />thereunder, as the same may be amended from time to time; <br />(b) that all of the Dwelling Units of the Project will be similarly constructed and each <br />Dwelling Unit in the Project will contain complete facilities for living, sleeping, eating, cooking, <br />and sanitation for a single person or a family; <br />(c) that: <br />(i) none of the Dwelling Units in the Project shall at any time in the future be <br />utilized on a transient basis; <br />(ii) that none of the Dwelling Units in the Project shall at any time in the future <br />be leased or rented for a period of less than 30 days; and <br />(iii) that neither the Project nor any portion thereof shall be used as a hotel, <br />motel, dormitory, fraternity house, sorority house, rooming house, hospital, nursing home, <br />sanitarium, rest home, or trailer park or trailer court for use on a transient basis, or by a <br />cooperative housing corporation (as defined in Section 216(b)(1) of the Code); <br />(d) that once available for occupancy: <br />(i) each Dwelling Unit in the Project must be rented or available for rental on <br />a continuous basis to members of the general public during the Qualified Project Period; <br />and <br />(ii) the Borrower shall not give preference in renting Dwelling Units in the <br />Project to any particular class or group of persons, other than Low Income Tenants as <br />provided herein or as otherwise permitted by law; <br />(e) that the Dwelling Units in the Project shall be leased and rented to members of the <br />general public in compliance with this Regulatory Agreement, except for any Dwelling Unit for a <br />resident manager or maintenance personnel; <br />(f) that the Project consists of one or more discrete edifices and other man made <br />construction, each consisting of an independent foundation, outer walls and roof, all of which will <br />be (i) owned by the same person for federal tax purposes, (ii) located on a common tract of land <br />or two or more parcels of land which are contiguous except for being separated only by a road, <br />street, stream, or a similar property and (iii) financed by the Loan or otherwise pursuant to a <br />common plan of financing, and which consists entirely of: <br />(i) units which are similar in quality and type of construction and amenities; <br />and <br />(ii) property Functionally Related and Subordinate in purpose and size to the <br />Project, e.g., parking areas, laundries, swimming pools, tennis courts, and other <br />recreational facilities (none of which may be unavailable to any person because such person <br />is a Low Income Tenant) and other facilities which are reasonably required for the Project, <br /> 7 <br />12519391v3 <br /> <br />
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