Section 350.203  Application Process

A Sponsor may apply for an Allocation by submitting an Application on forms prescribed by the Authority setting forth the following information:

a)         The name and location of the proposed Project;

b)         The name, address and telephone number of the Sponsor, owner, attorney, architect, contractor and consultant;

c)         A history of the Sponsor's experience in developing housing, and low-income housing in particular;

d)         A complete description of the proposed Project, including but not limited to the number and type of units and a projected rent schedule, and identifying any proposed tenant populations with special housing needs;

e)         The amount and status of the proposed financing for the Project, including a certification from the Sponsor certifying the amount of all federal, State and local subsidies which apply, or which the Sponsor expects to apply, with respect to the Project.

f)         Percentage of Low-Income units, and the amount of floor space of such units, to be included in the Project;

g)         The estimated total cost of the proposed Project, including the cost of land acquisition, the cost of construction, architects' fees, attorneys' fees, title insurance and all other costs associated with the Project;

h)         Dates of the Project's expected construction start and placement into service;

i)          The amount of Tax Credits requested;

j)          A certification from the Sponsor certifying to the Authority that all information contained in the Application and all accompanying information is true and accurate to the best of the Sponsor's knowledge; and

k)         Any additional documentation of the information provided in the Application which the staff of the Authority may require in order to confirm the information in the Application, e.g., financing commitment, legal description of the Project, etc.

(Source:  Amended at 21 Ill. Reg. 9012, effective June 26, 1997)