3. A rent schedule for the LMI Property, by unit type, specifying the number of bedrooms
in each unit type and the total rental charge for each unit type, and the total utility
allowance for each unit type, if applicable;
4. A copy of the Use Agreement, along with evidence that the Use Agreement is recorded in
the land evidence records of the community where the LMI Property is located,
including the book and page of recording;
5. A schedule of the anticipated benefits to the property from the credit purchase agreement
or remote net-metering credit agreement sufficient to determine the anticipated Net
Value of the Credits;
6. A statement describing the way in which the Net Value of the Credits will be used to
provide benefits to tenants of the LMI Property;
7. A non-refundable application fee of $200.00 payable to RIHousing; and
8. A certification signed by an authorized representative of the Applicant and LMI Property
acknowledging that:
a. The LMI Property must comply with the “Benefit to Tenants” provisions of the
recent amendments to Chapter 26.4 of Title 39 of the General Laws entitled “Net
Metering” (the “Act”), as a condition of eligibility for receipt of Credits, including
submission of an annual compliance certification to RIHousing and such other
information as RIHousing may reasonably require to determine compliance with the
Act;
b. Applicant will only be eligible to receive net-metering credits during the period that
the Use Agreement remains in full force and effect;
c. Applicant or LMI Property will be responsible for an annual monitoring fee of $50,
or such amount approved by the Public Utilities Commission (“PUC”), to
RIHousing to cover the costs of compliance monitoring under the Act.
RIHousing will conduct an initial review of the application to determine whether the LMI
Property qualifies as a Low or Moderate Income Housing Eligible Credit Recipient under the Act,
and will promptly notify the Applicant of its determination.
