Title
Resolution to Approve the Swift Lane Development Cost Certification
Memorandum
The Swift Lane project was created to apply for and receive Low-Income Housing Tax Credits (LIHTC) from MSHDA. It includes the property previously known as State Crossing (previously White/State/Henry) and Creekside Court (previously Lower Platt). Swift Lane has a separate legal entity, Swift Lane LDHA, LP, a separate budget and a separate audit.
Construction and Occupancy was completed in December 2020. The IRS and MSHDA require a development cost certification to be completed for LIHTC purposes.
...Staff
Prepared by: Ulrike Raak, Finance Director
Approved by: Jennifer Hall, Executive Director
Body
WHEREAS, The IRS and MSHDA require a development cost certification to be completed for the Low-Income Housing Tax Credit (LIHTC) program, which is attached;
NOW THEREFORE BE IT RESOLVED THAT, the Ann Arbor Housing Commission Board approves the attached cost certification for the Swift Lane project.