Section 15.151.760. Application and processing fees.

	(a)  A nonrefundable application fee must accompany an application for low-income housing tax credit.  
	(b)  In addition to the application fee, a nonrefundable processing fee must be paid to the Corporation before a low-income housing tax credit allocation certification (IRS Form 8609) will be issued by the Corporation.  
	(c)  An annual, nonrefundable compliance monitoring fee shall be paid to the Corporation by the owner of the development receiving an allocation of low-income housing tax credit.  
	(d)  The Corporation will establish the fees referenced in this section and will review them annually to insure that they adequately cover the administrative cost of the management of the low-income housing tax credit program.  
	(e)  The Corporation will, in its discretion, establish fee schedules based on whether a project has participation from a qualified non-profit agency or from a for-profit agency or based on the number of residential rental units contained within the project.  
	(f)  The Corporation will, in its discretion, waive or modify the fee schedule as long as there is just cause and the Corporation considers it to be in the best interest of the Corporation or the administration of the low-income housing tax credit program.  

Authorities

18.55.100;18.55.110;18.55.240;18.55.420;18.56.088

Notes

Authority

AS 18.55.100(a) AS 18.55.110 AS 18.55.240 AS 18.55.420 AS 18.56.088

History

Eff. 5/7/93, Register 130