pe2 housing v baker, No. 25-cv-5036 (Vt. Super. Ct. 2024)

Citation: pe2 housing v baker, No. 25-cv-5036 (Vt. Super. Ct. 2024)
Parent Document: pe2 housing v baker, No. 25-cv-5036 (Vt. Super. Ct. 2024)
Jurisdiction: Vermont (state)
Effective Date: 2024-11-01
Original Source: https://www.vermontjudiciary.org/media/20324 ↗

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Owner covenants and agrees to submit to the Agency a report in form and
content acceptable to the Agency…which shall demonstrate ongoing
compliance with this Covenant, specifically, that the income levels of
tenants are at or below applicable limits and all low-income units are
occupied by eligible tenants in accordance with Section 42. Of a total of 25
units in the development, 23 units will be income – and rent-restricted
(the “Housing Credit Units”). Of the Housing Credit Units, 23 shall be
occupied by households at or below 60% of the Area Median Gross income
as adjusted by household size (“AMGI”). The minimum set-aside election
for the project under Section 42(g)(I) of the Internal Revenue Code is the
“40-60” election.

Other Sections in This Document (102)

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