Texas Administrative Code › Title 1 - ADMINISTRATION › Part 1 - OFFICE OF THE GOVERNOR › Chapter 4 - TEXAS MILITARY PREPAREDNESS COMMISSION › Subchapter A - TEXAS MILITARY VALUE REVOLVING LOAN FUND PROGRAM › Section 4.1 - Introduction and Purpose

Current through Reg. 49, No. 28; July 12, 2024
(a) The Texas
				  Military Value Revolving Loan Fund provides a low cost source of revenue to
				  eligible communities who meet the application criteria. The minimum amount of a
				  loan is $1,000,000, while the maximum amount of a loan is determined by the
				  availability of funds and the creditworthiness of the applicant. State funding
				  will be obtained through the sale of general obligation bonds. The State may
				  provide up to 100 percent of the cost of the described project, dependent upon
				  the creditworthiness of the applicant.
(b) Definitions. The following words and
				  terms, when used in this subchapter, shall have the following meanings unless
				  otherwise indicated.
(1) Applicant--A Defense
				  Community, as defined in paragraph (5) of this subsection, applying for a loan
				  from the Fund.
(2) Awardee--The
				  Defense Community whose loan application is approved by the
				  Commission.
(3) Chief of Staff--The
				  Chief of Staff of the Office of the Governor.
(4) Commission--The Texas Military
				  Preparedness Commission. The Commission is attached for administrative purposes
				  to the Office of the Governor.
(5)
				  Defense Community--A "Defense community" as defined in §
											RSA 397.001 of
				  the Local Government Code.
(6)
				  Defense Facility--A "Defense facility" as defined in §
											RSA 397.001 of
				  the Local Government Code.
(7)
				  Director of the Commission--Director of the Texas Military Preparedness
				  Commission.
(8) Economic
				  Redevelopment Value Statement--A statement that illustrates specific ways funds
				  are to be used to promote economic development in the community to include that
				  information as provided for in §
											RSA 397.0021 of
				  the Local Government Code.
(9)
				  Financial Partners--Federal and state agencies, private and public nonprofit
				  foundations, local taxing authorities, and private investors who agree to
				  provide money for projects eligible for funding under this program.
(10) Fund or TMVRLF--The Texas Military Value
				  Revolving Loan Fund or account established under §
											RSA 436.156 of the
				  Government Code.
(11) Military
				  Installation--An activity under the jurisdiction of the Department of Defense,
				  including leased space, that is controlled by, or primarily supports,
				  Department of Defense activities.
(12) Military Value Enhancement Statement--A
				  military base or defense facility value enhancement statement that illustrates
				  specific ways funds are to be used to enhance the military or defense value of
				  the military base or defense facility to include that information as provided
				  for in §
											RSA 397.002 of
				  the Local Government Code.
(13)
				  Project--The construction, renovation, or acquisition for which a TMVRLF loan
				  is requested.
(14) Project
				  Costs--The Defense Community's total costs for completing the project,
				  including any and all costs of financing and administration assessed by the
				  Commission.
(15) Redevelopment
				  Value--The extent to which an economic development project will minimize the
				  negative effects of a defense base reduction, or an infrastructure project will
				  assist the defense community in accommodating the new or expanded military
				  missions that are assigned to the military facility.