SECTION 2. GENERAL

REQUIREMENTS

.01 Issuer Approval for Relief . If an Issuer that issued exempt facility bonds for a Project desires to allow the use of the Project to temporarily house displaced individuals, the Issuer must approve that use and must determine an appropriate period for the temporary housing, not to extend beyond September 30, 2014 (Temporary Housing Period). If a Bond/LIHTC Project subject to both Notice 2013–64 and this Notice re

ceives approval, for purposes of § 42, for a temporary housing period and for the suspension of income limitations from a State housing agency (as contemplated in Section IV(2) of Notice 2013–64) and that agency is not the Issuer, then the income limitations under § 142(d) for that Bond/LIHTC Project are suspended only if the project also receives the Issuer’s consent for a suspension. An Issuer that chooses to provide that consent must adopt for purposes of § 142(d) the same temporary housing period that the agency adopted for purposes of § 42.

.02 Protection of Tenants . Existing tenants in a Project whose income is at or below an applicable income limitation under § 142(d) cannot be evicted or have their tenancy terminated as a result of efforts to provide temporary housing for displaced individuals.

.03 Certification and Recordkeeping Requirements . The Project operator must comply with the certification and recordkeeping requirements in Section 4 of this Notice. For certification and recordkeeping requirements under § 42, see Notice 2013–64. .04 Rent Restrictions . To the extent such rent restrictions are applicable, rents for the low-income units that house displaced individuals must not exceed the lesser of–

(1) the maximum gross rent for that unit under § 142(d)(4)(B); or

(2) the maximum gross rent for that unit under § 42(g)(2).

.05 Project Must Meet All Remaining Requirements . Except as expressly provided in this Notice, a Project continues to be subject to all other rules and requirements of § 142(d) and § 103.