Section 10-B3307. ANNUAL FORGIVENESS AND DEFERRAL CEILINGS

 

3307.1Projects considered for forgiveness or deferral under this Program shall also be subject to the annual forgiveness and deferral ceiling established in §§3205.1 through 3205.3 of chapter 32 of this title.

 

3307.2Projects meeting the criteria for forgiveness or deferral of taxes or other debt owed the District consistent with §§3306.5(a) through (f), shall be certified by DHCD as eligible for forgiveness and/or deferral, up to the annual debt forgiveness ceiling and/or the annual debt deferral ceiling.

 

3307.3Eligible projects which would bring the total debt forgiven or deferred for that fiscal year above the annual debt forgiveness ceiling or the annual debt deferral ceiling, may be issued a preliminary certificate of forgiveness or deferral by DHCD.

 

3307.4All applicants of projects with preliminary certificates of forgiveness or deferral which are submitted with new request for forgiveness or deferral within the first thirty (30) calendar days of the next fiscal year following issuance shall receive priority consideration.

 

3307.5If DHCD review indicates these projects are still eligible, they shall receive the first allocations of forgiveness and deferral of indebtedness available in the new fiscal year, with priority given in chronological order, based on the date of issuance of their preliminary certificate of forgiveness or deferral.

 

3307.6Projects with preliminary certificates submitted after the first thirty (30) calendar days of a new fiscal year shall be treated on the same basis as other projects submitted that fiscal year.

 

source

Final Rulemaking published at 35 DCR 2541, 2555 (April 8, 1988).