ADFA Form 600 LIHTC Lease Addendum - 140% Rule - Arkansas

ADFA Form 600 LIHTC Lease Addendum - 140% Rule - Arkansas

What Is ADFA Form 600?

This is a legal form that was released by the Arkansas Development Finance Authority - a government authority operating within Arkansas. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is ADFA Form 600?
A: ADFA Form 600 is a LIHTC Lease Addendum used in Arkansas.

Q: What is LIHTC?
A: LIHTC stands for Low-Income Housing Tax Credit.

Q: What is the 140% Rule?
A: The 140% Rule is a requirement that at least 40% of units in a LIHTC property must be occupied by tenants with incomes at or below 140% of the area median income.

Q: How does the 140% Rule work?
A: The 140% Rule requires that landlords ensure that at least 40% of tenants in LIHTC properties meet the income requirements.

Q: Why is the 140% Rule important?
A: The 140% Rule is important because it helps to ensure that LIHTC properties provide affordable housing for low and moderate-income individuals and families.

Q: Who does the 140% Rule apply to?
A: The 140% Rule applies to landlords and tenants of LIHTC properties in Arkansas.

Q: Are there any exceptions to the 140% Rule?
A: There may be certain exceptions or waivers available for the 140% Rule in specific cases, but these would need to be approved by the appropriate authorities.

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Form Details:

  • Released on January 1, 2021;
  • The latest edition provided by the Arkansas Development Finance Authority;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of ADFA Form 600 by clicking the link below or browse more documents and templates provided by the Arkansas Development Finance Authority.

Download ADFA Form 600 LIHTC Lease Addendum - 140% Rule - Arkansas

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