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^ Build a high quality project with total hard development costs of not less than $4.8 <br />million; <br />^ Commence construction by no later than July 30, 2002 and complete the Project by no <br />later than September 30, 2003. <br />^ Provide the Agency with an audited statement of development costs following the <br />project's receipt of a certificate of occupancy. <br />^ Rent 59 of the 60 units to very low income senior households. The affordability <br />restrictions will remain in place unti12055. <br />001-001.doc Keyser Marston Associates, Inc. <br />19096.023 Page 5 <br />