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Presentation, discussion, and possible action on the proposed amendments to 10 TAC Chapter 10 Subchapter E, Post Award and Asset Management Requirements, ?10.400 Purpose, ?10.401 Housing Tax Credit and Tax Exempt Bond Developments, ?10.405 Amendments and Extensions, and ?10.406 Ownership Transfers, ?10.407 Right of First Refusal, ?10.408 Qualified Contract Requirements, and directing their publication for public comment in the Texas Register
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RECOMMENDED ACTION
recommendation
WHEREAS, pursuant to Tex. Gov't Code ?2306.053, the Texas Department of Housing and Community Affairs (the Department) is authorized to adopt rules governing the administration of the Department and its programs;
WHEREAS, staff has identified changes to 10 TAC Chapter 10 Subchapter E, Post Award and Asset Management Requirements, that are needed to: clarify language or processes; add a requirement for construction inspection reports to be submitted directly to staff by the Development Owner's Third Party inspector or by the third party lender or investor; remove the experience requirement to agree with a change to 10 TAC ?11.204 of the Qualified Allocation Plan; add amendments to Contracts to the rules; identify when an expiration of the target populations for the elderly restrictions can be processed as a non-material LURA amendment; identify requests to opt into the 2025 HOME final rule as a non-material amendment to the Contract; add requirements for material LURA amendment requests that pertain to a right enforceable by a tenant or other third; add a requirement that for Developments subject to the 2025 update to 24 CFR 92 (HOME final rule), the Department and households must be notified at least 30 days prior to a foreclosure and that the notification must include information regarding the rent/income requirements post foreclosure for Developments; add a requirement for Community Housing Development Organization (CHDO) to renew their certification for ownership transfers t...
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