Initial/Quarterly Construction Status Report

Instructions

The Quarterly Construction Status Report must be submitted on a quarterly basis until the Owner reports that the development has been placed in service and copies of the Certificate of Occupancy (CO) or Certificate of Substantial Completion for all buildings have been submitted to MHC’s Allocation Department. Information pertaining to the development must be current and consistent with the original application unless a request for change has been approved by MHC.  Failure to receive prior approval for any changes may result in a one-year suspension from participation in the program.  Failure to meet these deadlines will result in a $100 per day penalty fee.  After at least one building in a development has placed in service, Owner's must also begin submitting Quarterly Occupancy Status Reports to MHC's Compliance Monitoring Division.

The Initial Construction Status Report is required for all developments that receive a reservation letter for an award of Housing Tax Credits. The report must be submitted to MHC within 90 days of receiving the award. Information pertaining to the development must be current and consistent with the original application unless a request for change has been approved by MHC. Failure to receive prior approval for any changes may result in a one-year suspension from participation in the program. Failure to meet these deadlines will result in a $100 per day penalty fee.