Subsidy Layering Clause Samples

The Subsidy Layering clause defines the process for evaluating and managing multiple sources of public or private financial assistance provided to a project. In practice, this clause requires a thorough review to ensure that the combined subsidies do not exceed the project's financial needs or result in excessive profit for the developer. By mandating this review, the clause helps prevent over-subsidization, ensures compliance with funding regulations, and promotes the efficient use of public resources.
Subsidy Layering. A. Owner Disclosure The owner must disclose to the PHA, in accordance with HUD requirements, information regarding any related assistance from the Federal government, a State, or a unit of general local government, or any agency or instrumentality thereof, that is made available or is expected to be made available with respect to the contract units. Such related assistance includes, but is not limited to, any loan, grant, guarantee, insurance, payment, rebate, subsidy, credit, tax benefit, or any other form of direct or indirect assistance.
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Subsidy Layering a. Ow ner disclosure
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Subsidy Layering. If this item is checked, Section 911 of the Housing and Community Act of 1992 require that specific procedures be followed for subsidy layering review when HTC and HUD assistance are combined in a single Project.
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Subsidy Layering. Before committing funds to a project, the Subrecipient must evaluate the project in accordance with guidelines it has adopted for the purpose of subsidy layering and not invest any more HOME funds, in combination with other governmental assistance, than is necessary to provide affordable housing.
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Subsidy Layering. If this item is checked, Section 911 of the Housing and Community Act of 1992 require that specific procedures be followed for subsidy layering review when housing tax credits and HUD assistance are combined in a single Project.
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Subsidy Layering. A subsidy layering review is not required for existing housing projects.
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Subsidy Layering. The Developer will ensure compliance with subsidy layering review requirements, including the provision of a the following, updated documents as soon as they become available: a. Certification of Federal Assistance b. Sources and Uses Budget c. Development Budget d. Operating Budget, including Pro-Forma for a period of operation equal to the duration of the established period of affordability. Should the project involve the use of low-income housing tax credits (LIHTC), the Developer will provide the City a copy of the LIHTC subsidy layering review for the project file as soon as the review is completed.
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Related to Subsidy Layering

  • Anti-Layering The Company shall not incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to any Senior Debt and (b) senior in any respect in right of payment to the Notes. No Subsidiary Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is both (a) subordinate or junior in right of payment to its Senior Debt and (b) senior in right of the Section 4.9 hereof.

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