In order for HMFA to convert your 2007 reservation of tax credits into an allocation recognized by the Internal Revenue Services, please provide the following no later than November 30, 2007. If you cannot meet the November 30, 2007 deadline, you may request an extension and, if approved, pay an extension fee of $1,000 for every week the submission is late. This fee cannot be waived.

One half of the allocation fee. The total allocation fee equals 2% of the allocated credit amount over the credit period. The remainder of the fee is due prior to the issuance of the IRS Form 8609;

• Notification of the project's anticipated placed in service date;

• Sponsor Certification;

• 2007 Carryover Allocation Form and Table B (follow instructions);

• 15-Year Operating Proforma signed by your first mortgage lender that exclusively reflects the following language verbatim: "We acknowledge that this proforma substantially matches the assumptions used in our underwriting of the mortgage." A new proforma does not have to be submitted if there have been no changes to your operating proforma since application.

• If available, a copy of the recorded deed conveying title to the final ownership entity. The deed book and page numbers should be clearly indicated so that NJHMFA tax credit staff can accurately complete the Deed of Easement and Restrictive Covenant for Extended Low-Income Occupancy. Upon completion, the deed restriction will be forwarded to you for review, execution and recordation.

• Independent Auditors’ Report (with attachment - see “Carryover” tab) showing the 10% test has been met.
  
  This is due 3 months after the carryover is signed (as opposed to Nov 30)