Rules & Regulations of the State of Tennessee
Title 0770 - Housing Development
Chapter 0770-01-03 - New Homes Regulations
Section 0770-01-03-.03 - CLASS I BUILDERS

Universal Citation: TN Comp Rules and Regs 0770-01-03-.03

Current through December 26, 2024

To be qualified as a Class I Builder by the Agency, a builder must:

(1) Have a HUD rating of 100, current within two (2) years, or have met the performance goal standards under the most recent Reservation of Funds Program for builders.

(2) Have a previously reserved funds with the Agency

(3) Have previous FHA/VA building.

(4) Have a net worth of at least $200,000 supported by a current financial statement. This statement is subject to verification by the Agency which require an audit.

(5) Submit a current letter from a financial institution or institutions indicating construction funds will be made available to the Builder.

(6) Have been engaged in the shelter construction industry in the State of Tennessee as his primary business for the previous two (2) years.

Authority: T.C.A. §13-2315 (18).

Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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