Glossary

18 terms

• Carryover allocation

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  The allocation letter that preserves tax credits for a project that will place in service in a later year, subject to program timing rules.

• Partnership agreement (LPA)

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  The limited partnership agreement that sets ownership, capital, and many of the economic terms the construction file must stay consistent with.

• 10% test

  Carryover

  A carryover requirement that a minimum percentage of reasonably expected basis be incurred by a stated deadline.

• G702 draw request

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  The AIA application for payment summarizing the contractor's request for a construction draw.

• G703 continuation sheet

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  The schedule of values that itemizes work completed and stored materials behind a G702.

• Change order

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  A documented change to scope, cost, or schedule that must stay reconciled to draws and the eventual cost certification basis.

• Design & Construction Features (DCF)

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  The agency form capturing design and construction commitments that are checked against the live rulebook.

• Inspection report

  Construction

  Agency or third-party field observations that sit alongside draws as evidence of progress and conditions.

• Quarterly construction monitoring report

  Construction

  A periodic status package used by capital partners to track construction progress between major milestones.

• QAP

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  Qualified Allocation Plan — the state allocation framework GridLedge cites when validating document content against program rules.

• DAS bulletin

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  Dated agency guidance that can change how a requirement resolves. Bulletin timing is part of the citation.

• Eligible basis

  Concepts

  The cost basis used in LIHTC credit calculations. Construction-period documents often move numbers that later feed this figure.

• Applicable fraction

  Concepts

  The portion of a building treated as low-income for credit sizing — a concept the construction trail must not contradict later.

• Cost certification

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  The formal reconciliation of project costs used to support credit delivery, typically after substantial completion.

• Owner/contractor reconciliation

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  Workbooks that align owner and contractor cost views before certification — a frequent source of late divergence.

• Lien waiver

  Cost Certification

  Evidence that payment claims have been released for work covered by a draw or final payment package.

• Placed in service (PIS)

  8609

  The point at which a building is treated as placed in service for LIHTC purposes, unlocking the 8609 path.

• 8609 package

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  The IRS Form 8609 allocation and related supporting package that closes the construction-period evidence trail.