Permitted return on investment (ROI).

CFR · 2024-01-01 · US · Title 7

(a) (b) (1) Proceeds received by the borrower from the syndication of low-income housing tax credit and contributed to the MFH project may be considered funds from the borrower's own resources for the portion of the proceeds which exceeds: (i) The allowable developer's fee determined by the state agency administering the low-income housing tax credit, and (ii) The borrower's expected contribution to the transaction, as determined by the state agency administering the low-income housing tax credit. (2) A building site contributed by the borrower will be appraised by the Agency to determine its market value. A return may not be allowed on the amount above the equity contribution required by § 3560.63(c) if the market value as determined by the Agency, when added to the loan and grant amounts from all sources, exceeds the security value of the MFH project as specified in § 3560.63(a). (c) (d)

official document · source cfr-2024 · id 7:§ 3560.68