Okla. Admin. Code § 330:36-8-9

Current through Vol. 42, No. 7, December 16, 2024

Section 330:36-8-9 - Three-year Period

(a) If OHFA fails to present a Qualified Contract (QC) before the expiration of the 1YP as described herein, the Development will remain subject to the Three-Year Period requirements of Code Section 42(h)(6)(E)(ii).

(b) The Three-Year Period will commence with the recording of a Release of the Regulatory Agreement.

(c) During the Three-Year Period the Owner may not evict or terminate a tenancy of an existing tenant of any Low-Income Unit except for good cause. During the Three-Year Period the Owner may not increase the Gross Rent with respect to any Low-Income Unit except as permitted under Section 42 of the Code.

Okla. Admin. Code § 330:36-8-9

Added at 23 Ok Reg 2980, eff 7-13-06; Amended at 28 Ok Reg 1658, eff 1-1-12