Current through Reg. 49, No. 38; September 20, 2024
(a) The Department
will distribute Program funds in accordance with the Texas Housing Trust Fund
(Texas HTF) Plan in effect at the time. The Department will publish an
announcement for a NOFA in the Texas Register and post the
NOFA on the Department's website. The rules referenced in §
24.1 of this Chapter (relating to
Purpose) and the NOFA will establish and define the terms, conditions, and
maximum Reservation amounts allowed per Administrator. The Department may also
set a deadline for receiving Reservations or Applications. The NOFA will
indicate the approximate amount of available funds. The Department may increase
the amount of funds made available through the NOFA from time to time without
republishing the NOFA in the Texas Register. Such increases
will be reflected on the Department's website.
(b) Any Reservation containing false
information will be disqualified. The Department will review and process all
Reservations in the order received.
(c) Reservations received by the Department
in response to a NOFA will be handled as described in paragraphs (1) - (5) of
this subsection.
(1) The Department will
accept Reservations until all funds under the NOFA have been committed. The
Department may limit the eligibility of Reservations in the NOFA.
(2) Each Reservation will be assigned a
"received date" based on the date and time the Reservation was entered into the
Texas Bootstrap Loan Program Reservation system. Each Reservation will be
reviewed in accordance with the Program rules.
(3) Reservations must comply with all
applicable Texas Bootstrap Loan Program requirements or regulations established
in this chapter. Reservations that do not comply with such requirements may be
disqualified. The Administrator will be notified in writing of any cancelled or
disqualified Reservations.
(4) If a
Reservation contains deficiencies which, in the determination of the
Department, require clarification or correction of information submitted at the
time of the Reservation, the Department may request clarification or correction
in the form of a deficiency notice to the Administrator. If the Administrator
is unable to cure any deficiencies within 14 calendar days, the Department may
decline to fund the Reservation. The Department may provide one 14 calendar day
extension to the curative deadline outlined in the deficiency notice.
(5) Prior to issuing a Loan Commitment, the
Department may decline to fund any Reservation entered into the Reservation
system if the proposed housing Activities do not, in the Department's sole
determination, represent a prudent use of the Department's funds. The
Department is not obligated to proceed with any action pertaining to any
Reservation which are entered, and may decide it is in the Department's best
interest to refrain from committing the funds. If the Department has issued a
Loan Commitment, but the Administrator or Owner-Builder Applicant has not
complied with all the Program rules and guidelines, the Department may suspend
funding until the Administrator or Owner-Builder Applicant has satisfied all
requirements of the Program.
