Section 825-RICR-30-00-1.10 - CONTINUING USE OF DEVELOPMENT AS MULTIFAMILY RENTAL HOUSINGA. Use as Rental Property. Each Development, other than Assisted Living Facilities financed under the Program shall continue to meet the 20 50 Test or the 40 60 Test during the qualified project period as such period is defined in the Tax Act at 26 U.S.C. § 142(d)(2). Each Assisted Living Facility financed under the Program shall continue to meet the 100-10 Test for a period of not less than fifteen years. Notwithstanding the foregoing, in the event that Targeted Loan Funds are utilized for an Assisted Living Facility, the period of affordability required for the units funded by Targeted Loan Funds shall be not less than 30 years, and, further, in the event that any other affordability restrictions apply as a result of other funding provided for a Development, those restrictions shall also apply.B. Limited Commercial Use. Each Development financed with taxable bonds or Corporation reserve funds may, if approved by the Corporation, contain up to twenty-five percent (25%) of its total square footage, and with respect to Assisted Living Facilities, up to thirty-five percent (35%) of its total square footage, dedicated to commercial usage. The amount of commercial space in a Development finance with tax-exempt bonds shall not exceed applicable limitations in the Tax Act. No monies from the Housing Trust Fund shall be used for any purposes other than those purposes set forth in the Housing Trust Fund Legislation.825 R.I. Code R. 825-RICR-30-00-1.10