Dillehay Courts

Key facts from Dillehay Courts's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Affordable Housing — income/rent restricted (LIHTC/HOME/etc.)

Units / lots

144 (Project definition)

Developer / declarant

Dillehay Courts Phase I, LP (Borrower definition)

Governing law

North Carolina Housing Authorities Law (Article 1 of Chapter 157) and Section 142(d) of the Internal Revenue Code (Section 1 and Section 3)

Collections & liens

Enforcement of Regulatory Agreement cannot cause default under mortgage or acceleration (Section 8(f))

Leasing & rentals

30 days (Section 3(c)(i))

Parking & vehicles

Approximately 219 spaces for tenants, no charge (Section 6(c))

Use restrictions

Yes; must be rental housing; no hotel, motel, dormitory, etc. (Section 3(a) and 3(c))

Amendments

Requires written agreement of parties, opinion of Tax Counsel, and consent of Funding Lender (Section 17(a))

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.