Current through Reg. 49, No. 38; September 20, 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.
