Base Event
Confidence 0.95 out of 1 Conf 0.95
date that ten percent (10%) of the Units in the Project are first occupied or the date of issuance of the Obligations
"that period commencing on the later of (a) the date that ten percent (10%) of the Units in the Project are first occupied or (b) the date of issuance of the Obligations"
Expiration Date
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Expiration Expression
Confidence 0.95 out of 1 Conf 0.95
the later of (a) the date that ten percent (10%) of the Units in the Project are first occupied or (b) the date of issuance of the Obligations and ending on the latest of (i) the first day on which no Obligations or other tax-exempt private-activity obligation with respect to the Project is still outstanding; (ii) fifteen (15) years from the date that fifty percent (50%) of the Units in the Project are first occupied; (iii) in the event the Project receives Tax Credits, the first day on which the Mortgagor is no longer required to comply with the provisions set forth in Exhibit B hereto; (iv) the first day on which the Project's Real Property Tax Benefits expire; or (v) 30 years from the first date of the first taxable year of the credit period (as defined in Section 42(f)(1) of the Internal Revenue Code of 1986, as amended unless terminated sooner pursuant to Section 2 of Exhibit B hereto; or (vi) the date that the Mortgage and the HDC Subordinate Mortgage are satisfied
""Occupancy Restriction Period" shall mean that period commencing on the later of (a) the date that ten percent (10%) of the Units in the Project are first occupied or (b) the date of issuance of the Obligations and ending on the latest of (i) the first day on which no Obligations or other tax-exempt private-activity obligation with respect to the Project is still outstanding; (ii) fifteen (15) years from the date that fifty percent (50%) of the Units in the Project are first occupied; (iii) in the event the Project receives Tax Credits, the first day on which the Mortgagor is no longer required to comply with the provisions set forth in Exhibit B hereto; (iv) the first day on which the Project's Real Property Tax Benefits expire; or (v) 30 years from the first date of the first taxable year of the credit period (as defined in Section 42(f)(1) of the Internal Revenue Code of 1986, as amended unless terminated sooner pursuant to Section 2 of Exhibit B hereto; or (vi) the date that the Mortgage and the HDC Subordinate Mortgage are satisfied."
Party
Confidence 0.95 out of 1 Conf 0.95
1085 WASHINGTON PARTNERSHIP, L.P.
"1085 WASHINGTON PARTNERSHIP, L.P. ("Mortgagor") a New York limited partnership"
Party
Confidence 0.95 out of 1 Conf 0.95
NEW YORK CITY HOUSING DEVELOPMENT CORPORATION
"NEW YORK CITY HOUSING DEVELOPMENT CORPORATION ("HDC"), a corporate governmental agency constituting a public benefit corporation organized and existing under the laws of the State of New York"
Program Name
Confidence 0.85 out of 1 Conf 0.85
New York City Housing Development Corporation Loan / Low Income Housing Tax Credit / Real Property Tax Benefits
"WHEREAS, HDC has made as of the date hereof and pursuant to the HDC Commitment dated May 31, 2007, (as hereinafter defined), (i) as first mortgage loan to the Mortgagor in the aggregate principal sum of THIRTEEN MILLION SIX HUNDRED THOUSAND AND 00/100 DOLLARS ($13,600,000.00) ("Construction Loan"), which upon the completion of construction will become a permanent mortgage loan in the aggregate principal sum FIVE MILLION SIX HUNDRED NINETY THOUSAND ($5,690,000.00) DOLLARS... WHEREAS, the Mortgagor intends to elect to receive Tax Credits (as defined herein) due to the issuance of the Obligations; and WHEREAS, the Project is expected to receive Real Property Tax Benefits"
Regulatory Period
Confidence 0.00 out of 1 Not found
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