Why do Tax Credit Only properties need to submit financial statements?
MHDC has found that many of our Tax Credit properties are being required by their equity syndicators to submit financial statements. Section 7(c) of the Land Use Restriction Agreement (LURA) gives MHDC the authority to request this information as it states the owner shall submit any other information, documents, or certifications requested by the Authority which the Authority shall deem reasonably necessary to substantiate the owners continuing compliance with the provisions of the agreement.
