§ 31-10 Application Procedure and Documentation.
RCNY § 31-10
(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 fully completed application form; (2) Copy of the deed for the Real Property; (3) Copy of any former and current Regulatory Agreements binding the Real Property to the Tax Credit Program income and other restrictions; (4) Copy of the Allocation Document for the Real Property; (5) Copy of the filed Certificate(s) of Incorporation, stock certificates, filed Certificate(s) of Limited Partnership and Limited Liability Companies, and partnership agreements, as applicable, evidencing that the applicant is an Eligible Owner; (6) Schematic drawings of all proposed or completed buildings or improvements to the Real Property, including all floors thereof, that 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; (7) A copy of the Temporary or Permanent Certificate of Occupancy, if issued; (8) Written recognition of exemption for the applicable Charitable Organization pursuant to Section 501(c)(3) or Section 501(c)(4) of the Code, from the United States Internal Revenue Service, or any successor agency; and (9) Any such additional documentation which the Office may require.
(c)An application may concern more than one building provided that each such building is part of a project, and is specified in the Regulatory Agreement(s) for such project; and provided further that there is a United States Treasury Form 8609, Part I of which has been completed by the Housing Credit Agency, for each such building.
(d)Completion of application. An application for a Certificate of Eligibility must contain all documentation required by subdivision (b) of this section 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 subdivision (b) of this section. 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.
(e)Issuance of a Certificate of Eligibility.
(1)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.
(f)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. (Added City Record 8/21/2015, eff. 9/19/2015)
