reglab/statecodes huggingface dataset:
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter E - FEE SCHEDULE, APPEALS, AND OTHER PROVISIONS › Section 11.902 - Appeals Process

Current through Reg. 49, No. 28; July 12, 2024
(a) For Competitive
				  HTC Applications, an Applicant or Development Owner may appeal decisions made
				  by the Department pursuant to Tex. Gov't Code §
										2306.0321 and §
										2306.6715 using the
				  process identified in this section. For Tax-Exempt Bond Developments and Direct
				  Loan Developments (not layered with a Competitive HTC Application), an
				  Applicant or Development Owner may appeal decisions made by the Department
				  pursuant to §
										1.7 of this title (relating to
				  Appeals). Matters that can be appealed include:
(1) A determination regarding the
				  Application's satisfaction of applicable requirements, Subchapter B of this
				  chapter (relating to Site and Development Requirements and Restrictions) and
				  Subchapter C of this chapter (relating to Application Submission Requirements,
				  Ineligibility Criteria, Board Decisions and Waiver of Rules for Applications),
				  pre-application threshold criteria, and underwriting criteria;
(2) The scoring of the Application under the
				  applicable selection criteria;
(3)
				  A recommendation as to the amount of Department funding to be allocated to the
				  Application;
(4) Misplacement of an
				  Application or parts of an Application, mathematical errors in scoring an
				  Application, or procedural errors resulting in unequal consideration of the
				  Applicant's proposal;
(5) Denial of
				  a requested change to a Commitment or Determination Notice;
(6) Denial of a requested change to a loan
				  agreement;
(7) Denial of a
				  requested change to a LURA;
(8) Any
				  Department decision that results in the termination or change in set-aside of
				  an Application; and
(9) Any other
				  matter for which an appeal is permitted under this chapter.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter E - FEE SCHEDULE, APPEALS, AND OTHER PROVISIONS › Section 11.903 - Adherence to Obligations. (Section 2306.6720)

Current through Reg. 49, No. 28; July 12, 2024
Any Applicant, Development Owner, or other Person that
					 fails to adhere to its obligations with regard to the programs of the
					 Department, whether contractual or otherwise, made false or misleading
					 representations to the Department with regard to an Application, request for
					 funding, or compliance requirements, or otherwise violated a provision of Tex.
					 Gov't Code, Chapter 2306 or a rule adopted under that chapter, may be subject
					 to:
(1) Assessment of administrative
				  penalties in accordance with Chapter 2, Subchapter C of this title (relating to
				  Administrative Penalties) the Department's rules regarding the assessment of
				  such penalties. Each day the violation continues or occurs is a separate
				  violation for purposes of imposing a penalty; or
(2) In the case of the competitive Low Income
				  Housing Tax Credit Program, a point reduction for any Application involving
				  that Applicant over the next two Application Rounds succeeding the date on
				  which the Department first gives written notice of any such failure to adhere
				  to obligations or false or misleading representations. Point reductions under
				  this section may be appealed to the Board.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter E - FEE SCHEDULE, APPEALS, AND OTHER PROVISIONS › Section 11.904 - Alternative Dispute Resolution (ADR) Policy

Current through Reg. 49, No. 28; July 12, 2024
In accordance with Tex. Gov't Code §
										2306.082, it is the
					 Department's policy to encourage the use of appropriate ADR procedures under
					 the Governmental Dispute Resolution Act, Tex. Gov't Code, Chapter 2010, to
					 assist in resolving disputes under the Department's jurisdiction, as provided
					 for in §
										1.17 of this title (relating to
					 Alternative Dispute Resolution).
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter E - FEE SCHEDULE, APPEALS, AND OTHER PROVISIONS › Section 11.905 - General Information for Commitments or Determination Notices

Current through Reg. 49, No. 28; July 12, 2024
(a) A
				  Commitment or Determination Notice shall not be issued with respect to any
				  Development for an unnecessary amount in accordance with §42(m)(2)(A) or
				  where the cost for the total development, acquisition, construction or
				  rehabilitation exceeds the limitations established by the Department and the
				  Board.
(b) All Commitments or
				  Determination Notices, whether reflected in the Commitment or Determination
				  Notice or not, are made subject to full compliance with all applicable
				  provisions of law and the Department's rules, all provisions of Commitment,
				  Determination Notice, and Contract, satisfactory completion of underwriting,
				  and satisfactory resolution of any conditions of underwriting, award, and
				  administrative deficiencies.
(c)
				  The Department shall notify, in writing, the mayor, county judge, or other
				  appropriate official of the municipality or county, as applicable, in which the
				  Development is located informing him/her of the Board's issuance of a
				  Commitment Notice, as applicable.
(d) The Department may cancel a Commitment,
				  Determination Notice or Carryover Allocation prior to the issuance of IRS
				  Form(s) 8609 (for Housing Tax Credits) or completion of construction with
				  respect to a Development and/or apply administrative penalties if:
(1) The Applicant, Development Owner, or the
				  Development, as applicable, fails after written notice and a reasonable
				  opportunity to cure, to meet any of the conditions of such Commitment,
				  Determination Notice or Carryover Allocation or any of the undertakings and
				  commitments made by the Development Owner in the Application process for the
				  Development;
(2) Any material
				  statement or representation made by the Development Owner or made with respect
				  to the Development Owner or the Development is untrue or misleading;
(3) An event occurs with respect to the
				  Applicant or the Development Owner which would have made the Application
				  ineligible for funding pursuant to Subchapter C of Chapter 11 of this title
				  (relating to Application Submission Requirements, Ineligibility Criteria, Board
				  Decisions and Waiver of Rules) if such event had occurred prior to issuance of
				  the Commitment, Determination Notice or Carryover Allocation; or
(4) The Applicant, Development Owner, or the
				  Development, as applicable, fails after written notice and a reasonable
				  opportunity to cure, to comply with this chapter or other applicable Department
				  rules, procedures, or requirements of the Department.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter E - FEE SCHEDULE, APPEALS, AND OTHER PROVISIONS › Section 11.907 - Carryover Agreement General Requirements and Required Documentation

Current through Reg. 49, No. 28; July 12, 2024
Carryover (Competitive HTC Only). All Developments that
					 received a Commitment, and will not be placed in service and receive IRS
					 Form(s) 8609 in the year the Commitment was issued, must submit the Carryover
					 documentation, in the form prescribed by the Department in the Carryover
					 Manual, no later than the Carryover Documentation Delivery Date as identified
					 in §
										11.2 of this title (relating to
					 Program Calendar for Competitive Housing Tax Credits) of the year in which the
					 Commitment is issued pursuant to §42(h)(1)(C) of the Code.
(1) Commitments for credits will be
				  terminated if the Carryover documentation has not been received by this
				  deadline, unless an extension has been approved. This termination is subject to
				  right of appeal directly to the Board, and if so determined by the Board,
				  immediately upon final termination by the Board, staff is directed to award the
				  credits to other qualified Applicants on the approved waiting list.
(2) If the interim or permanent financing
				  structure, syndication rate, amount of debt or syndication proceeds are
				  finalized but different at the time of Carryover from what was proposed in the
				  original Application, applicable documentation of such changes must be provided
				  and the Development may be re-evaluated by the Department for a reduction of
				  credit or change in conditions.
(3)
				  All Carryover Allocations will be contingent upon the Development Owner
				  providing evidence that they have and will maintain Site Control through the
				  10% Test or through the anticipated closing date, whichever is earlier. For
				  purposes of this paragraph, any changes to the Development Site acreage between
				  Application and Carryover must be addressed by written explanation or, as
				  appropriate, in accordance with §
										10.405 of this title (relating to
				  Amendments and Extensions).
(4)
				  Confirmation of the right to transact business in Texas, as evidenced by the
				  Franchise Tax Account Status (the equivalent of the prior Certificate of
				  Account Status) from the Texas Comptroller of Public Accounts and a Certificate
				  of Fact from the Office of the Secretary of State must be submitted with the
				  Carryover Allocation.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter F - SUPPLEMENTAL HOUSING TAX CREDITS › Section 11.1001 - General

Current through Reg. 49, No. 28; July 12, 2024
(a) This subchapter applies only to 2024
				  State Housing Tax Credits to supplement Competitive HTC awards during the July
				  Board meeting of the Department at which final awards of credits are authorized
				  or to supplement Tax-Exempt Bond Developments.
(b) For Competitive HTC Applications,
				  submissions required to make a request for State Housing Tax Credits are
				  considered a supplement to the original Application. Requests for State Housing
				  Tax Credits are not considered Applications under the 2024 HTC Competitive
				  Cycle nor are they part of the 2024 Application Round.
(c) For Competitive HTC Applications, an
				  allocation of State Housing Tax Credits will be processed as a Material
				  Amendment to the Application under §
										10.405 of this title (relating to
				  Amendments and Extensions).
(d) For
				  Competitive HTC Applications, revisions to costs included in a request for
				  State Housing Tax Credits will not have an impact on points originally awarded
				  for Costs of Development per Square Foot or Leveraging (§§
										11.9(e)(2) and
				  (4) of this title, respectively).
(e) Tax-Exempt Bond Developments shall meet
				  the requirements of §
										11.1009 of this chapter (relating
				  to State Housing Tax Credits for Tax-Exempt Bond Developments).
(f) Developments with HOME funds from the
				  Department or another Participating Jurisdiction, will enter into a Contract
				  and a LURA for HOME Match Eligible Units.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter F - SUPPLEMENTAL HOUSING TAX CREDITS › Section 11.1002 - Program Calendar for State Housing Tax Credits Associated with Competitive HTC Applications

Current through Reg. 49, No. 28; July 12, 2024
Competitive HTC Deadlines. Non-statutory deadlines
					 specifically listed in the Program Calendar may be extended by the Department
					 for a period of not more than 5 business days provided that the Applicant has,
					 in writing, requested an extension prior to the date of the original deadline
					 and has established to the reasonable satisfaction of the Department that there
					 is good cause for the extension.
Attached
					 Graphic
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter F - SUPPLEMENTAL HOUSING TAX CREDITS › Section 11.1003 - State Housing Tax Credit Allocation Process Associated with Competitive HTC Applications

Current through Reg. 49, No. 28; July 12, 2024
(a) Intent to
				  Request State Housing Tax Credit Allocation. Only those Applicants who elect to
				  request an allocation of State Housing Tax Credits from the Department by the
				  Full Application Delivery Date specified in §
										11.2(a) or §
										11.2(b) of this
				  subchapter (relating to Program Calendar) are eligible to submit a Request for
				  State Housing Tax Credits. This subsection does not apply to prior year
				  applications eligible for a Priority Allocation under §11.1004
(b) Requests for State Housing Tax Credits
				  must be received by the deadline specified in §
										11.1002 of this subchapter
				  (relating to Program Calendar for State Housing Tax Credits) in the format
				  required by the Department.
(c)
				  Third Party Requests for Administrative Deficiency. Due to the nature of the
				  State Housing Tax Credit process and reliance on the Original Application and
				  scores, the Third Party Request for Administrative Deficiency process will not
				  be utilized during the State Housing Tax Credit process under this
				  subchapter.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter F - SUPPLEMENTAL HOUSING TAX CREDITS › Section 11.1004 - Set-Aside for Previously Awarded Developments for Competitive HTC Applications

Current through Reg. 49, No. 28; July 12, 2024
As established under §
										171.566 of the Tax Code, a
					 Priority Allocation of five million will be allocated to previously awarded
					 Developments which the Department determines require an allocation of credits
					 under this subsection to secure feasibility. Requests for the allocation under
					 this subsection must meet the following criteria to be eligible for the
					 award.
(1) Must not be financed through
				  tax exempt bonds;
(2) The Owners or
				  Developers of which have owned the land necessary for the Development since at
				  least December 31, 2022; and
(3)
				  Received an allocation of federal tax credits under the QAP issued by the
				  Department for 2021 or 2022.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter F - SUPPLEMENTAL HOUSING TAX CREDITS › Section 11.1005 - Procedural Requirements for Requests for State Housing Tax Credits Associated with Competitive HTC Applications

Current through Reg. 49, No. 28; July 12, 2024
(a) The
				  procedures and requirements of §
										11.201 of this chapter (relating
				  to Procedural Requirements for Application Submission) will generally apply to
				  Requests for State Housing Tax Credits, unless otherwise specified in this
				  Subchapter.
(b) The Original
				  Application will be relied upon, as deemed final and reviewed by staff as part
				  of the original award; the request for State Housing Tax Credits must only
				  include the items authorized in this subchapter. Architectural drawings, or
				  other documents that relate to changes to the Application other than revisions
				  to the financing structure may not be submitted. The Applicant must submit the
				  required documents as a single PDF document and all spreadsheet exhibits must
				  also be provided in a usable spreadsheet format as further specified in the
				  Department's released materials, which will be incorporated into the Original
				  Application by staff, and become the full Request for State Housing Tax
				  Credits.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter F - SUPPLEMENTAL HOUSING TAX CREDITS › Section 11.1007 - State Housing Tax Credits Underwriting and Loan Policy Associated with Competitive HTC

Current through Reg. 49, No. 28; July 12, 2024
Requests for State Housing Tax Credits will only be
					 reviewed for items addressed in this subchapter. In requests for State Housing
					 Tax Credits the Total Developer Fee and Developer Fee included in Eligible
					 Basis cannot exceed the Developer Fee amounts in the published Real Estate
					 Analysis report for the Original Application. The Real Estate Analysis Division
					 will publish a memo for the State Housing Tax Credit allocation serving as a
					 supplement to the report for the Original Application.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter F - SUPPLEMENTAL HOUSING TAX CREDITS › Section 11.1008 - State Housing Tax Credits Selection Criteria Associated with Competitive HTC Applications

Current through Reg. 49, No. 28; July 12, 2024
(a) For Qualified
				  Developments not financed through tax exempt bonds, for years in which the
				  Department receives requests for more State Housing Tax Credits than are
				  available, the Department shall prioritize applications proposing the most
				  additional low income Units for households at or below 30% of AMGI relative to
				  the State Housing Tax Credit Request. Units for households at or below 30% of
				  AMGI proposed in the original application shall not be considered. The
				  Department will award based solely upon new Units proposed in exchange for tax
				  credit equity. The initial State Housing Tax Credit award shall be made to the
				  Applicant with the lowest request amount per additional Units provided.
				  Subsequent awards shall be made using the same metric until the Department can
				  no longer fund a full credit request. In the case of a tie, preference shall be
				  determined based upon the Original Application scores under §11.9 and, if
				  applicable, the tie breaker factors established under §11.7.
(b) An Application shall be ineligible for
				  selection if the Development is located in an area with any Neighborhood Risk
				  Factor described in §11.101(a)(3), and it did not receive an allocation of
				  federal tax credits under the QAP issued by the department for 2021 or
				  2022.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 11 - QUALIFIED ALLOCATION PLAN (QAP) › Subchapter F - SUPPLEMENTAL HOUSING TAX CREDITS › Section 11.1009 - State Housing Tax Credits for Tax-Exempt Bond Developments

Current through Reg. 49, No. 28; July 12, 2024
(a) The request for State Housing Tax Credits
				  shall be reflected in the Uniform Multifamily Application, as prescribed by the
				  Department and further explained in the Multifamily Programs Procedures Manual,
				  and shall include a term sheet from a syndicator that includes the amount of
				  State Housing Tax Credits requested and pricing information.
(b) For Applications that will receive a
				  Certificate of Reservation from the Texas Bond Review Board in January, an
				  Applicant may submit the complete Application (which may or may not include
				  Third Party Reports, as more fully described under §
										11.201(2) of this
				  chapter (relating to Procedural Requirements for Application Submission)), from
				  January 2 through January 31. The Department shall utilize a first-come,
				  first-served system for establishing priority of requests for the portion of
				  the State Housing Tax Credit available for Tax-Exempt Bond
				  Developments.
(c) Once the number
				  of Applications submitted exceed the amount of State Housing Tax Credits for
				  Tax-Exempt Bond Developments the Department can allocate, Applicants for those
				  Applications will be provided notice to that effect and be given the
				  opportunity to modify their Application through the Administrative Deficiency
				  process to exclude the request for the State Housing Tax Credit.
(d) Should there be an amount of State
				  Housing Tax Credits to allocate to an Application and that Application is
				  withdrawn or terminated, or the Certificate of Reservation is withdrawn from
				  the Bond Review Board, the next Application in line, based on the received date
				  will be notified that their Application will be underwritten with the State
				  Housing Tax Credit. Alternatively, in cases where staff can make seamless
				  adjustments to other line items to account for the lack of State HTC, staff may
				  make such adjustments automatically and notify the Applicant
				  accordingly.
(e) Applications
				  submitted after January 31 and for which a Certificate of Reservation has been
				  issued, may include a request for State Housing Tax Credits only if the
				  Department has not reached the maximum amount of State Housing Tax Credits to
				  allocate for Tax-Exempt Bond Developments.
(f) Qualified Developments will be issued a
				  Determination Notice that will reflect both the State and Federal Housing Tax
				  Credit Amounts, which for purposes of the State Housing Tax Credit will
				  constitute the Allocation Certificate pursuant to Tex. Gov't Code Chapters 171
				  and 233.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 12 - MULTIFAMILY HOUSING REVENUE BOND RULES › Section 12.2 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms, when used in this chapter,
				  shall have the following meanings, unless the context clearly indicates
				  otherwise. Any capitalized terms not specifically mentioned in this section
				  shall have the meaning as defined in Tex. Gov't Code, Chapter 2306,
				  §§141, 142, and 145 of the Internal Revenue Code, and Chapter 11 of
				  this part (relating to Housing Tax Credit Program Qualified Allocation
				  Plan).
(1) Institutional Buyer--Shall
				have the meaning prescribed under
				17 CFR §
										230.501(a), but excluding
				any natural person or any director or executive officer of the Department
				(17 CFR §
										230.501(a)(4) - (6)), or as
				defined by 17 CFR §
										230.144(a), promulgated
				under the Securities Act of 1933, as amended.
(2) Persons with Special Needs--Shall have
				the meaning prescribed under Tex. Gov't Code, §
									2306.511.
(3) Bond Trustee--A financial institution,
				usually a trust company or the trust department in a commercial bank, that
				holds collateral for the benefit of the holders of municipal securities. The
				Bond Trustee's obligations and responsibilities are set forth in the
				Indenture.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 12 - MULTIFAMILY HOUSING REVENUE BOND RULES › Section 12.3 - Bond Rating and Investment Letter

Current through Reg. 49, No. 28; July 12, 2024
(a) Bond Ratings.
				All publicly offered Bonds issued by the Department to finance Developments
				shall have a debt rating the equivalent of at least an "A" rating assigned to
				long-term obligations by Standard & Poor's Ratings Services, or Moody's
				Investors Service, Inc. If such rating is based upon credit enhancement
				provided by an institution other than the Applicant or Development Owner, the
				form and substance of such credit enhancement shall be subject to approval by
				the Board, evidenced by a resolution authorizing the issuance of the credit
				enhanced Bonds.
(b) Investment
				Letters. Bonds rated less than "A" or Bonds which are unrated must be placed
				with one or more Institutional Buyers and must be accompanied by an investor
				letter acceptable to the Department. Subsequent purchasers of such Bonds must
				also be qualified as Institutional Buyers and must execute and deliver to the
				Department an investor letter in a form satisfactory to the Department. Bonds
				rated less than "A" and Bonds which are unrated shall be issued in physical
				form, in minimum denominations of one hundred thousand dollars ($100,000), and
				must carry a legend requiring any purchasers of the Bonds to be Institutional
				Buyers and sign and deliver to the Department an investor letter in a form
				acceptable to the Department.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 12 - MULTIFAMILY HOUSING REVENUE BOND RULES › Section 12.5 - Pre-Application Threshold Requirements

Current through Reg. 49, No. 28; July 12, 2024
The threshold requirements of a pre-application include the
				  criteria listed in paragraphs (1) - (8) of this section. As the Department
				  reviews the pre-application the assumptions as reflected in Chapter 11,
				  Subchapter D of this part (relating to Underwriting and Loan Policy) will be
				  utilized even if not reflected by the Applicant in the pre-application. The
				  threshold requirements of a pre-application include:
(1) Submission of the required tabs of the
				Uniform Application as prescribed by the Department in the Multifamily Bond
				Pre-Application Procedures Manual;
(2) Submission of the completed Bond
				Pre-Application Supplement in the form prescribed by the Department;
(3) Completed Bond Review Board Residential
				Rental Attachment for the current program year;
(4) Site Control, evidenced by the
				documentation required under §11.204(10) of this part (relating to
				Required Documentation for Application Submission). The Site Control must be
				valid through the date of both the Board meeting at which the inducement
				resolution is considered and subsequent submission of the application to the
				TBRB. For Lottery applications, Site Control must meet the requirements of 34
				TAC §
									190.3(b)(13).
(5) Boundary survey or plat clearly
				identifying the location and boundaries of the subject Property;
(6) Organizational Chart showing the
				structure of the Development Owner and of any Developer and Guarantor,
				providing the names and ownership percentages of all Persons having an
				ownership interest in the Development Owner, Developer and Guarantor, as
				applicable, and completed List of Organizations form, as provided in the
				pre-application. The List of Organizations form must include all Persons
				identified on the organizational charts, and further identify which of those
				Persons listed exercise Control of the Development;
(7) Evidence of Entity Registration or
				Reservation with the Texas Office of the Secretary of State; and
(8) A certification, as provided in the
				pre-application, that the Applicant met the requirements and deadlines for
				public notifications as identified in §11.203 of this part (relating to
				Public Notifications (§2306.6705(9)). In general, notifications should not
				be older than three months prior to the date of Application submission. In
				addition, should the jurisdiction of the official holding any position or role
				described in §11.203 of this part change between the submission of a
				pre-application and the submission of an Application in a manner that results
				in the Development being within a new jurisdiction, Applicants are required to
				notify the new entity no later than the Full Application Delivery
				Date.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 12 - MULTIFAMILY HOUSING REVENUE BOND RULES › Section 12.6 - Pre-Application Scoring Criteria

Current through Reg. 49, No. 28; July 12, 2024
This section identifies the scoring criteria used in
				  evaluating and ranking pre-applications. Any scoring items that require
				  supplemental information to substantiate points must be submitted in the
				  pre-application, as further outlined in the Multifamily Bond Pre-Application
				  Procedures Manual. Applicants proposing multiple sites will be required to
				  submit a separate pre-application for each Development Site, unless staff
				  determines that one pre-application is more appropriate based on the specifics
				  of the transaction. Each individual pre-application will be scored on its own
				  merits and the final score will be determined based on an average of all of the
				  individual scores. Ongoing requirements, as selected in the pre-application,
				  will be reflected in the Bond Regulatory and Land Use Restriction Agreement and
				  must be maintained throughout the State Restrictive Period, unless otherwise
				  stated or required in such Agreement.
(1) Income and Rent Levels of the Tenants.
				Pre-applications may qualify for up to ten (10 points) for this item.
(A) Priority 1 designation includes one of
				clauses (i) - (iii) of this subparagraph. (10 points)
(i) set aside 50% of Units rent capped at 50%
				AMGI and the remaining 50% of Units rent capped at 60% AMGI; or
(ii) set aside 15% of Units rent capped at
				30% AMGI and the remaining 85% of Units rent capped at 60% AMGI; or
(iii) set aside 100% of Units rent capped at
				60% AMGI for Developments located in a census tract with a median income that
				is higher than the median income of the county, MSA, or PMSA in which the
				census tract is located.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 12 - MULTIFAMILY HOUSING REVENUE BOND RULES › Section 12.8 - Refunding Application Process

Current through Reg. 49, No. 28; July 12, 2024
(a) Application
				Submission. Owners who wish to refund or modify tax-exempt bonds that were
				previously issued by the Department must submit to the Department a summary of
				the proposed refunding plan or modifications. To the extent such modifications
				constitute a re-issuance under state law the Applicant shall then be required
				to submit a refunding Application in the form prescribed by the Department
				pursuant to the Bond Refunding Application Procedures Manual.
(b) Bond Documents. Once the Department has
				received the refunding Application and the Applicant has deposited funds to pay
				initial costs, the Department's bond counsel will draft the necessary Bond
				documents.
(c) Public Hearings.
				Depending on the proposed modifications to existing Bond covenants a public
				hearing may be required. Such hearing must take place prior to obtaining Board
				approval and must meet the requirements pursuant to §
									12.7(d) of this
				chapter (relating to Full Application Process) regarding the presence of a
				member of the Development Team and providing a summary of proposed Development
				changes.
(d) Rule Applicability.
				Refunding Applications must meet the applicable requirements pursuant to
				Chapter 11 of this part (relating to Housing Tax Credit Program Qualified
				Allocation Plan). At the time of the original award the Application would have
				been subject to eligibility and threshold requirements under the QAP in effect
				the year the Application was awarded. Therefore, it is anticipated the
				Refunding Application would not be subject to the site and development
				requirements and restrictions pursuant to §11.101 of this part (relating
				to Site and Development Requirements and Restrictions). The circumstances
				surrounding a refunding Application are unique to each Development; therefore,
				upon evaluation of the refunding Application, the Department is authorized to
				utilize its discretion in the applicability of the Department's rules as it
				deems appropriate.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 12 - MULTIFAMILY HOUSING REVENUE BOND RULES › Section 12.9 - Occupancy Requirements

Current through Reg. 49, No. 28; July 12, 2024
(a) Filing and Term
				of Regulatory Agreement. A Bond Regulatory and Land Use Restriction Agreement
				will be filed in the property records of the county in which the Development is
				located for each Development financed from the proceeds of Bonds issued by the
				Department. Such Regulatory and Land Use Restriction Agreement shall include
				provisions relating to the Qualified Project Period, the State Restrictive
				Period, along with points claimed for other provisions that will be required to
				be monitored throughout the State Restrictive Period, and shall also include
				provisions relating to Persons with Special Needs. The minimum term of the
				Regulatory Agreement will be based on the criteria as described in paragraphs
				(1) - (3) of this subsection, as applicable:
(1) 30 years, or such longer period as
				elected under §
										12.6(4) of this
				chapter (relating to Extended Affordability), from the date the Development
				Owner takes legal possession of the Development;
(2) The end of the remaining term of the
				existing federal government assistance pursuant to Tex. Gov't Code, §
										2306.185;
				or
(3) The period required by the
				Code.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 13 - MULTIFAMILY DIRECT LOAN RULE › Section 13.4 - Set-Asides, Regional Allocation, and NOFA Priorities

Current through Reg. 49, No. 28; July 12, 2024
(a) Set-Asides. Specific types of Activities
				or Developments for which a portion of MFDL funds may be reserved in a NOFA
				will be grouped in categories called Set-Asides. Not all Set-Asides will be
				available in every NOFA, and the Board may approve Set-Asides not described in
				this section. The amount of a single award may be credited to multiple
				Set-Asides, in which case the credited portion of funds may be repositioned
				into an oversubscribed Set-Aside prior to a defined collapse deadline.
(1) General / Soft Repayment Set-Aside.
(A) Applicants seeking to qualify for NHTF
				under this set-aside must propose Developments in which all Units assisted with
				MFDL funds are available for households earning the greater of the poverty rate
				or 30% AMI, and have rents no higher than the rent limits for extremely
				low-income tenants in 24 CFR
				§
												93.302(b).
(B) Applicants seeking to qualify for HOME
				under this set-aside must propose Developments in which all Units assisted with
				MFDL funds are available to households earning no more than 80% AMI and have
				rents no higher than the rent limits
				24 CFR
				§92.2.
(C) A portion of the General / Soft Repayment
				Set-Aside may be reallocated into the CHDO Set-Aside in order to fully fund a
				CHDO award that exceeds the remaining amount in the CHDO Set-Aside.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 13 - MULTIFAMILY DIRECT LOAN RULE › Section 13.5 - Application and Award Process

Current through Reg. 49, No. 28; July 12, 2024
(a)
				Applications. MFDL Applicants must follow the applicable requirements in 10 TAC
				Chapter 11, Subchapter C (relating to Application Submission Requirements,
				Ineligibility Criteria, Board Decisions and Waiver of Rules) and the Notice of
				Funding Availability for which the Application is submitted.
(b) Application Acceptance Date. Applications
				will be considered received on the business day of receipt, unless a different
				time period is described in the Department's rules or NOFA. If an Application
				is received after 5:00 p.m., Austin local time, it will be determined to have
				been received on the following business day. Applications received on a
				non-business day will be considered received on the next day the Department is
				open. Applications will be considered complete at the time all Application
				materials, required third party reports and application fee(s) are received by
				the Department. Within certain Set-Asides or priorities, the date of receipt
				may be fixed, regardless of the earlier actual date a complete Application is
				received, if so specified in the Department's rules or NOFA. If multiple
				Applications have the same Application Acceptance Date, in the same region or
				subregion (as applicable), within the same Set-Aside, and for 9% then score and
				tiebreaker factors, as described 10 TAC §
									11.7 of this title (relating to
				Tie Breaker Factors) will be used to determine the Application's
				rank.
(c) Market Analysis.
				Applications proposing Rehabilitation that request MFDL as the only source of
				Department funding may be exempted from the Market Analysis requirement in 10
				TAC §
									11.205(2)
				(relating to Required Third Party Reports) if the Development's rent rolls for
				the most recent six months reflect occupancy of at least 80% of all
				Units.
(d) Required Site Control
				Agreement Provisions. All Applicants for MFDL funds where the Development is
				subject to environmental review under 24 CFR Part 50 and Part 58 must include
				the following provisions in the purchase contract or site control agreement if
				the subject property is not already owned by the Applicant:
(1) "Notwithstanding any other provision of
				this Contract, Purchaser shall have no obligation to purchase the Property, and
				no transfer of title to the Purchaser may occur, unless and until the
				Department has provided Purchaser and/or Seller with a written notification
				that:
(A) It has completed a federally
				required environmental review and its request for release of federal funds has
				been approved and, subject to any other Contingencies in this Contract,
(i) the purchase may proceed, or
(ii) the purchase may proceed only if certain
				conditions to address issues in the environmental review shall be satisfied
				before or after the purchase of the property; or
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 13 - MULTIFAMILY DIRECT LOAN RULE › Section 13.6 - Scoring Criteria and Tie Breaker Factors

Current through Reg. 49, No. 28; July 12, 2024
(a)
				Scoring. The scoring items used to calculate the score for a Competitive
				HTC-Layered Application will be utilized for scoring for an MFDL Application,
				and evaluated in the same manner. For all other Applications, the Tie Breaker
				described below will be utilized to determine which Applications to recommend
				for an award if multiple Applications are given the same Application Acceptance
				Date within the same Set-Aside and with the same Priority as described in the
				NOFA.
(b) Tie Breaker. In the event
				that two or more Applications receive the same Application Acceptance Date,
				within the same Set-Aside and having the same Priority, staff will utilize the
				Tie Breaker Factors established in §11.7.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 13 - MULTIFAMILY DIRECT LOAN RULE › Section 13.7 - Maximum Funding Requests and Minimum Number of MFDL Units

Current through Reg. 49, No. 28; July 12, 2024
(a) Maximum Funding Request. The maximum
				funding request for an Application will be identified in the NOFA, and may vary
				by development type, set-aside, Priority, or fund source.
(b) Maximum New Construction or
				Reconstruction Per-Unit Subsidy Limits. The per-Unit subsidy limit for a
				Development will be determined by the Department as the Section 234 Condo
				limits with the applicable high cost percentage adjustment in effect at the
				start date of the NOFA, which are the maximum MFDL eligible cost per-Unit
				subsidy limits that an Applicant may use to determine the amount of MFDL funds
				combined with other federal funds that may subsidize a Unit.
(c) Maximum Rehabilitation Per-Unit Subsidy
				Limits. The MFDL eligible cost per-Unit to rehabilitate a Development may not
				exceed the HUD 221(d)(4) statutory limits, subject to high cost factors as
				published in the NOFA.
(d) Minimum
				Number of MFDL Units. The minimum required number of MFDL Units will be
				determined by the MFDL per-Unit subsidy limits and the cost allocation
				analysis, which will ensure that the amount of MFDL Units as a percentage of
				total Units is equal to or greater than the percentage of MFDL funds requested
				as a percentage of total eligible MFDL Development costs.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 13 - MULTIFAMILY DIRECT LOAN RULE › Section 13.8 - Loan Structure and Underwriting Requirements

Current through Reg. 49, No. 28; July 12, 2024
(a) Loan Structures. Loan structures must
				meet the criteria described in this section and as further described in a NOFA.
				The interest rate, amortization period, ad term for the loan will be approved
				by the Board at the time of award, and can only be amended prior to loan
				closing by the process in 10 TAC §
									13.12(relating to Pre-Closing
				Amendments to Direct Loan Terms).
(b) Criteria for Construction-to-Permanent
				Loans. Direct Loans awarded through the Department must adhere to the criteria
				as identified in paragraphs (1) - (7) of this subsection if being requested as
				construction-to-permanent loans, for which the interest rate will be specified
				in the NOFA and approved by the Board:
(1) The
				construction term for MFDL loans shall generally be coterminous with any
				superior construction loan(s), but no greater than 36 months. In the event the
				MFDL loan is the only loan with a construction term or is the superior
				construction loan, the construction term may be up to 36 months. Shorter
				timeframes may be required to meet federal project completion or expenditure
				deadlines;
(2) No interest will
				accrue during the construction term;
(3) The loan term shall be no less than 15
				years and no greater than 40 years, and the amortization period shall be
				between 30 to 40 years. The Department's loan must mature at the same time or
				within six months of the shortest term of any senior debt, so long as neither
				exceeds 40 years. The loan term commences following the end of the construction
				term;
(4) Loans shall be secured
				with a deed of trust with a permanent lien position that is superior to any
				other sources for financing including hard repayment debt that is in an amount
				less than or equal to the Direct Loan amount and superior to any other sources
				that have soft repayment structures, non-amortizing notes, have deferred
				forgivable provisions, or in which the lender has an identity of interest with
				any member of the Development Team. Parity liens may only be considered with
				federal loan funds from USDA Rural Development;
(5) In general, up to 50% of the MFDL loan
				may be advanced at loan closing, should there be sufficient eligible costs to
				reimburse that amount; however, this amount may be proportionally exceeded for
				a Development being awarded additional MFDL funds, if the Development is past
				50% at loan closing, so long as the required Mid-Construction Inspection has
				been completed. In all cases, at least 10% of the funds will be reserved for
				the final Draw.
Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 13 - MULTIFAMILY DIRECT LOAN RULE › Section 13.9 - Construction Standards

Current through Reg. 49, No. 28; July 12, 2024
All Developments financed with Direct Loans will be required
				  to meet at a minimum the applicable requirements in Chapter 11 of this title
				  (relating to the Qualified Allocation Plan). In addition, Developments must
				  meet all applicable state and local codes, ordinances, and standards; the 2021
				  International Existing Building Code (IEBC) or International Building Code
				  (IBC), as applicable. Should IEBC be more restrictive than local codes, or
				  should local codes not exist, then the Development must meet the requirements
				  imposed by IEBC or IBC, as applicable. Developments must also meet the
				  requirements in paragraphs (1) - (5) of this section:
(1) Third-Party Recommendations.
				Recommendations made in the Environmental Site Assessment (§
									11.305 of this title) and any
				Scope of Work and Cost Review (§
									11.306 of this title) with respect
				to health and safety issues, life expectancy of major systems (structural
				support; roofing; cladding and weatherproofing; plumbing; electrical; and
				heating, ventilation, and air conditioning) must be implemented;
(2) Lead and Asbestos Testing. For properties
				originally constructed prior to 1978, the Scope of Work and Cost Review must be
				provided to the party conducting the lead-based paint and/or asbestos testing,
				and the Development Owner must implement the mitigation recommendations of the
				testing report;
(3) Broadband
				Infrastructure. The broadband infrastructure requirements described in
				24 CFR §
										92.251(a)(2)(vi) or
				(b)(1)(x) for HOME, NSP, or TCAP RF; or
				24 CFR §
										93.301(a)(2)(vi) or
				24 CFR §
										93.301(b)(2)(vi) for NHTF,
				as applicable;
(4) Properties in
				Catastrophe Areas. Developments located in the designated catastrophe areas
				specified in 28 TAC §
									5.4008 must comply with 28 TAC
				§
									5.4012(relating to Applicable
				Building Code Standards in Designated Catastrophe Areas for Structures
				Constructed, Repaired or to Which Additions Are Made On and After April 1,
				2020); and
(5) Minimum Construction
				Standards. Rehabilitation Developments funded with federal sources may also be
				required to meet Minimum Rehabilitation Standards, as required by HUD.
				Rehabilitation Developments funded by the national Housing Trust Fund are
				required to meet the Multifamily Minimum Rehabilitation Standards approved by
				HUD, as posted on the Department's website at
https://www.tdhca.state.tx.us/multifamily/home/index.htm
,
				in addition to the Department's rules and NOFA requirements.