Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 1 - FINANCE COMMISSION OF TEXAS
Chapter 6 - BANKING DEVELOPMENT DISTRICTS
Section 6.3 - Application Requirements
Universal Citation: 7 TX Admin Code ยง 6.3
Current through Reg. 49, No. 38; September 20, 2024
(a) Basic application. A local government, in conjunction with a financial institution, may submit an application to the commission for the designation of a proposed banking development district, as provided by § 6.4 of this title (relating to Submission and Processing of Application). The application must include the following information to the extent available:
(1) identification of the local government
applicant and evidence of the approval of the application by its governing
body;
(2) identification of the
participating financial institution by type and name, and identification of its
primary state and/or federal regulator;
(3) a description of the geographic area
comprising the proposed district, including a map that identifies the borders
of the proposed district;
(4) a
compilation and explanation of the population demographics included within the
proposed district, including the number of residents and the percentage of the
population that can be described as comprised of, for example, elderly (age 64
and over), disabled, non-English speaking, and identifiable racial, ethnic or
other minorities;
(5) a compilation
and explanation of economic indicators pertinent to the proposed district, to
the extent available, including per capita annual income, median household
annual income, unemployment data, percentage of the population at or below the
poverty level, and percentage of the population receiving public assistance
within the proposed district;
(6) a
description of the type and nature of commercial businesses located in the
proposed district, including the number and percentage of which constitute
small business, as that term is defined by Government Code §
RSA
2006.001(2);
(7) a compilation and summary of significant
business developments within the past three years, including corporate
restructurings, plant closings, other business closings, and recent or proposed
business openings or expansions;
(8) the location, number, and proximity of
sites where banking services are available in or near the proposed district,
including branches of financial institutions and credit unions, and
deposit-taking ATMs other than those located at branches;
(9) a compilation and description of
alternate providers in the proposed district;
(10) a description of the anticipated impact
that additional banking services would have on potential economic development
within the proposed district.
(b) Optional information. An application for designation of a banking development district may also include:
(1) a description of other local government
and community initiatives proposed to be undertaken and coordinated with
establishment of the proposed district;
(2) indications of community support or
opposition for the application, as evidenced by letters from entities such as
local chambers of commerce, local businesses, community-based organizations,
non-profit organizations, government officials, or community residents;
and
(3) such other information that
the applicant believes will demonstrate that the proposed district meets the
standards set forth in § 6.5 of this title (relating to Criteria for
Approval).
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