MSHDA - Model Legal Documents

Michigan State Housing Development Authority

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Model Legal Documents

Agency: State Housing Development Authority

Model Legal Documents Tax Credit Assistance Program
The Authority is posting initial form documents for review and comment. The documents referenced and linked below are intended to be used to secure loans financed with federal Tax Credit Assistance Program (TCAP) funds. This will include subordinate loans under the Authority's 4% Equity Support Program and 9% Equity Support Program.

Documents include:

Two forms of a TCAP Commitment, including
- Integrated commitment for TCAP loan with MSHDA Direct Loan ; and
- Commitment for TCAP subordinate loan only
TCAP Note ;
TCAP Mortgage;
Three alternative versions of a TCAP Regulatory Agreement:
Two forms of an intercreditor agreement for use in the 9% Equity Support Program, including
- One version assuming that all project development funds, except for developer fee payments, are disbursed through the Authority's standard process (default preference); and
- A version anticipating joint disbursements from each lender
Guaranty (PENDING) : The Authority anticipates requiring personal and/or corporate guarantees from the underlying sponsors (i.e. not just the single asset general partner entity) related to repayment of the TCAP loan, repayment of any federal recapture obligation, and financial operations of the development. The document is not, however, ready for publication at this time.

Section 1602 Program (i.e. monetized tax credits)
Regulatory Agreement (Posted 9/30/09)
TEAM Regulatory Agreement (Posted 9/30/09)
Section 8 Regulatory Agreement (Posted 9/30/09)
Commitment (Posted 9/30/09)
TEAM Commitment (Posted 9/30/09)
Mortgage (Posted 9/30/09)
Note (Posted 9/30/09)


	Related Content
•	AMERICAN RECOVERY & REINVESTMENT ACT, FINAL TCAP APPLICATION
•	AMERICAN RECOVERY & REINVESTMENT ACT
•	Multifamily Rental Housing (Tax Credit Assistance Program and Monetized Credit)
•	AMERICAN RECOVERY & REINVESTMENT ACT, Questions and Answers
•	Tenant Based Rental Assistance Program (TBRA) Forms
•	AMERICAN RECOVERY & REINVESTMENT ACT