One fixed interest rate
for entire construction period and 40-year term

To qualify as affordable in this context,
a project must meet the following requirements:

1. Rent and income restrictions must be imposed, monitored, and enforced by a governmental agency for at least 15 years after Final Endorsement,

2. There must be a recorded Regulatory Agreement (LURA) requiring the project to meet at least the minimum LIHTC restrictions of 20% of units at 50% of area median income (AMI), or 40% of units at 60% of AMI, with economic rents (i.e. the portion paid by the residents) on those units no greater than LIHTC rents, and

3. The achievable tax-credit rents must be at least 10% below market rents.

To qualify as Section 8 in this context, a project must have a project-based Section 8 contract for 90% or more of the total units in place for 15 years after Final Endorsement.

To qualify as middle-income in this context, 50% or more of units must be targeted for tenant income levels up to 120% AMI. All targeted units must be secured by a use restriction and must be monitored by a state or local government entity annually. A minimum use restriction period of 10 years is required to ensure that middle income tenants benefit from this policy. This can be waived to no less than five years.

Business services and products do not originate from and are not expressly endorsed by HUD, FHA, the government of the United States, or any federal, state or local government agency. Harper Capital Partners, LLC, is not acting on behalf of or at the direction of HUD, FHA, or the federal government.