Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter C - APPLICATION SUBMISSION REQUIREMENTS, INELIGIBILITY CRITERIA, BOARD DECISIONS AND WAIVER OF RULES › Section 11.205 - Required Third Party Reports

Current through Reg. 49, No. 28; July 12, 2024
The Environmental Site Assessment, Scope and Cost Review,
					 Appraisal (if applicable), and the Market Analysis must be submitted no later
					 than the Third Party Report Delivery Date as identified in §
										11.2(b) of this
					 chapter (relating to Tax-Exempt Bond and Direct Loan Development Dates and
					 Deadlines). For Competitive HTC Applications, the Environmental Site
					 Assessment, Scope and Cost Review, Appraisal (if applicable), and the Primary
					 Market Area map (with definition based on census tracts, and site coordinates
					 in decimal degrees, area of PMA in square miles, and list of census tracts
					 included) must be submitted no later than the Full Application Delivery Date as
					 identified in §
										11.2(a) of this
					 title (relating to Competitive HTC Deadlines Program Calendar) and the Market
					 Analysis must be submitted no later than the Market Analysis Delivery Date as
					 identified in §
										11.2(a) of this
					 chapter. For Competitive HTC Applications, if the reports, in their entirety,
					 are not received by the deadline, the Application may be terminated. An
					 electronic copy of the report in the format of a single file containing all
					 information and exhibits clearly labeled with the report type, Development name
					 and Development location are required. All Third Party reports must be prepared
					 in accordance with Subchapter D of this chapter (relating to Underwriting and
					 Loan Policy). The Department may request additional information from the report
					 provider or revisions to the report as needed. In instances of non-response by
					 the report provider, the Department may substitute in-house analysis. The
					 Department is not bound by any opinions expressed in the report.
(1) Environmental Site Assessment. This
				  report, required for all Developments and prepared in accordance with the
				  requirements of §
										11.305 of this chapter (relating
				  to Environmental Site Assessment Rules and Guidelines), must not be dated more
				  than 12 months prior to the date of Application submission for non-Competitive
				  Applications, or the first day of the Application Acceptance Period for
				  Competitive HTC Applications. If this timeframe is exceeded, then a letter or
				  updated report must be submitted, dated not more than six months prior to the
				  date of Application submission or the first day of the Application Acceptance
				  Period for Competitive HTC Applications from the Person or organization which
				  prepared the initial assessment confirming that the site has been re-inspected
				  and reaffirming the conclusions of the initial report or identifying the
				  changes since the initial report.
(A) Existing
				  Developments funded by USDA will not be required to supply this information;
				  however, it is the Applicant's responsibility to ensure that the Development is
				  maintained in compliance with all state and federal environmental hazard
				  requirements.
(B) If the report
				  includes a recommendation that an additional assessment be performed, then a
				  statement from the Applicant must be submitted with the Application indicating
				  that those additional assessments and recommendations will be performed prior
				  to closing. If the assessments require further mitigating recommendations, then
				  evidence indicating that the mitigating recommendations have been carried out
				  must be submitted at cost certification.