Ohio Admin. Code 122:29-1-02 - Eligibility
(A)
An eligible applicant may be a property owner at the
time the application is submitted and the project is certified by the tax
credit authority, or an insurance company that contributes capital to be used
in the project, as defined in division (A) of section
122.09
of the Revised Code. If there are multiple property owners within a project,
only the property owners included in an application are eligible applicants and
only the portions of a project associated with an eligible applicant or
insurance company contributing capital are included for consideration as part
of a project.
(B)
The project is either a transformational mixed use
development or one or more phased portions of a transformational mixed use
development as defined in division (A)(3) of section
122.09
of the Revised Code. If applying for more than one phase, each phase is to be
either contiguous to one another or contiguous to a previously developed
portion of the transformational mixed use development, so long as the
previously developed phase and the project phases in the application are
developed in continuous chronological order.
(C)
Both (1) the tax
credit is a major factor in the completion of the project and (2) the project
will not be completed unless the applicant receives the tax credit, each as
demonstrated by the applicant to the authority through evidence acceptable to
the authority.
(D)
The project integrates a combination of:
(1)
Any two or more
of retail, office, residential, recreation, and other similar mixed uses;
or
(2)
Structured parking and any two or more of retail,
office, residential, recreation, and other similar mixed uses.
(E)
The
project has in place or has obtained commitments for a minimum of fifty-one per
cent of the estimated development costs attributable to the project.
Commitments may include, but are not limited to, public financing awards,
dedicated service payments, commitments letters or conditional commitment
letters from financial institutions, or evidence of available
equity.
Notes
Promulgated Under: 119.03
Statutory Authority: 122.09(O)
Rule Amplifies: 122.09
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