99-346 C.M.R. ch. 27, § 2 - Background

MaineHousing provides funding and/or tax credits for affordable multifamily and supportive housing projects through a number of multifamily and supportive housing programs.

MaineHousing documents evidencing and securing this funding or tax credits typically prohibit the assumption of these obligations in the Transfer of an Ownership Interest without MaineHousing's prior written consent.

MaineHousing will consider a request for consent to a Transfer as set forth in this rule and the associated procedures established by MaineHousing. MaineHousing may consent to the Transfer request, with or without conditions or restrictions, or may withhold its consent to the Transfer, except that MaineHousing's consent will not be unreasonably withheld.

MaineHousing's consent to a Transfer does not automatically constitute MaineHousing's consent to an assignment or assumption of any funding or tax credits. MaineHousing may require payment or satisfaction of any funding, recapture or other obligation in connection with a Transfer.

Notes

99-346 C.M.R. ch. 27, § 2