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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