§ 31-04 Application Procedure and Documentation.
RCNY § 31-04
(a)Application forms and filing for certificate of eligibility. Prescribed forms and applications are available from the Office. All applications must be submitted to the Office on forms approved by the Office.
(b)Documentation required of all applicants. All completed applications for tax exemption must include the following documentation: (1) Original and two copies of the fully completed application form; (2) Copy of the deed for the Real Property; (3) Copy of all mortgages and notes evidencing the Loan(s) for the Real Property; (4) Copy of the Regulatory Agreement binding the Real Property; (5) Copy of the Allocation Document for the Real Property; (6) Copy of the filed Certificate(s) of Incorporation, stock certificates, filed Certificate(s) of Limited Partnership and partnership agreements, as applicable, evidencing that the applicant is a Qualified Owner.
(7)Schematic drawings of all proposed or completed buildings or improvements to the Real Property, including all floors thereof, which schematic drawings identify those portions of the Real Property which are not dwelling units and clearly specify (i) areas used for common residential or ancillary residential purposes which qualify as Housing Accommodations for Persons and Families of Low Income and (ii) all areas used for commercial and otherwise ineligible purposes which do not qualify as Housing Accommodations; indicate the square footage of each such space, all drawn to a scale acceptable to the Office which scale is clearly indicated on each drawing, provided, however, that the Office may waive schematics if there is no space not used for dwelling units or other residential purposes; (8) A certification from the City, the State or the Housing Trust Fund Corporation indicating that the applicant is not in default under the terms of the Loan and the Regulatory Agreement with respect to the Real Property which is the subject of the application if requested by the Office; and (9) A copy of the Temporary or Permanent Certificate of Occupancy, if issued.
(10)Any such additional documentation which the Office may require.
(11)An application may contain more than one building provided that each such building is part of a project, and is specified in the deed, mortgages and notes and the Regulatory Agreement(s) for such project; and provided further that there is a final Allocation Document for each such building.
(c)Completion of application. An application for a Certificate of Eligibility must contain all documentation required by 28 RCNY § 31-04(b) and be completed within twenty-four months of the Initial Filing Date with the Office or the application may be deemed withdrawn. An application for a Certificate of Eligibility shall be deemed complete if the application includes all the documentation required in 28 RCNY § 31-04(b). The requirements of 28 RCNY § 31-04(b)(5) may be temporarily satisfied as provided in 28 RCNY § 31-02(b)(3) by a binding or non-binding reservation or a credit carry over allocation issued pursuant to § 42(h)(i)(E) of the Internal Revenue Code pending compliance with 28 RCNY § 31-02(b)(3) hereof or proof of application for such reservation or allocation. Applicants must notify the Office of any change of address and/or change of ownership of the premises and any change in the designated filing agent.
(d)Issuance of a certificate of eligibility.
(1)It is the applicant's responsibility to complete the application within twenty-four months, or, where applicable, within thirty-six months of the Initial Filing Date as provided in 28 RCNY § 31-04(c). The Office shall issue a Certificate of Eligibility for all approved applications.
(2)Failure to produce documentation satisfactory to the Office or failure to comply with these Rules may result in the denial of a Certificate of Eligibility, and rejection of the application.
(3)Notwithstanding the issuance of a Certificate of Eligibility, the tax exemption may be revoked or revised pursuant to 28 RCNY Chapter 39.
(e)Implementation of benefit. Upon issuance of a 420-c Certificate of Eligibility and payment of outstanding fees, the Office will transmit the Certificate of Eligibility to the Department of Finance
