Rule 122:29-1-04 | Agreements and amendments.
(A) Following approval and certification of an application in order to be eligible to receive a credit, all applicants will enter into a grant agreement with the authority setting forth the terms and conditions, in accordance with section 122.09 of the Revised Code and Chapter 122-9 of the Administrative Code. Any applicant identified in the application who does not execute the agreement is not eligible for receiving the approved and certified tax credit.
(B) The agreement will incorporate the development plan and application materials and will set the potential total amount of tax credit and proportion of the total tax credit allocated to each property owner, if more than one property owner is included in the application as approved and certified by the authority.
(C) The agreement may be amended prior to the completion date to reflect minor changes to the project scope as described in the development plan and application materials, changes in property owners, the timeline for completion, or changes in financing. The authority may consider material change requests to amend the scope of the project on a case-by-case basis. The authority may reduce the amount of credit allocated in proportion to the change requested for a material change amendment and may only approve a material change amendment request if a project, as requested to be amended, would remain a transformational mixed use development.
Last updated December 3, 2024 at 8:35 AM
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