8 CCR 1504-10-10 - REQUESTS FOR FINAL APPROVAL OF COMPLETED REHABILITATION WORK
10.1 Within one
hundred twenty (120) days of completion of the rehabilitation work described in
the approved application and Rehabilitation Plan, the applicant shall submit a
request for final approval of the rehabilitation work to the Reviewing Entity.
Rehabilitation work is considered complete on the date the structure is placed
in service by a certificate of occupancy, or if no such certificate is
required, on the date when the qualifying structure is utilized for its
intended use.
10.2 Requests for
final approval of completed rehabilitation work shall be made on a form
developed by the Historical Society. The Historical Society's final approval
request form shall be used by all Reviewing Entities, and all Reviewing
Entities shall make this form available to the public. The form shall include a
certification by the applicant that qualified rehabilitation expenditures were
incurred in connection with an approved Rehabilitation Plan and the applicant's
signed approval to allow the Reviewing Entity reasonable access to the
property.
10.3 With the form, the
applicant also shall submit: "after" interior and exterior photographs
documenting the completed rehabilitation work; an itemized accounting of all
qualified rehabilitation expenditures incurred; and the applicant's estimate of
the tax credit for which the Owner is eligible. For rehabilitations that are
not part of a major disaster area or a rural community, the estimate should be
twenty percent of qualified expenses up to $50,000.
10.4 Applicants who have projects in a major
disaster area or a rural community should work with their Reviewing Entity to
determine whether they may qualify for a greater tax credit.
Notes
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