This text of Texas § 2306.6705 (GENERAL APPLICATION REQUIREMENTS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Sec. 2306.6705. GENERAL APPLICATION REQUIREMENTS. An application must contain at a minimum the following written, detailed information in a form prescribed by the board:
(1)a description of:
(A)the financing plan for the development, including any nontraditional financing arrangements;
(B)the use of funds with respect to the development;
(C)the funding sources for the development, including:
(i)construction, permanent, and bridge loans; and
(ii)rents, operating subsidies, and replacement reserves; and
(D)the commitment status of the funding sources for the development;
(2)if syndication costs are included in the eligible basis, a justification of the syndication costs for each cost category by an attorney or accountant specializing in tax matters;
(3)from a syndicator or a financi
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Sec. 2306.6705. GENERAL APPLICATION REQUIREMENTS. An application must contain at a minimum the following written, detailed information in a form prescribed by the board:
(1) a description of:
(A) the financing plan for the development, including any nontraditional financing arrangements;
(B) the use of funds with respect to the development;
(C) the funding sources for the development, including:
(i) construction, permanent, and bridge loans; and
(ii) rents, operating subsidies, and replacement reserves; and
(D) the commitment status of the funding sources for the development;
(2) if syndication costs are included in the eligible basis, a justification of the syndication costs for each cost category by an attorney or accountant specializing in tax matters;
(3) from a syndicator or a financial consultant of the applicant, an estimate of the amount of equity dollars expected to be raised for the development in conjunction with the amount of housing tax credits requested for allocation to the applicant, including:
(A) pay-in schedules; and
(B) syndicator consulting fees and other syndication costs;
(4) if rental assistance, an operating subsidy, or an annuity is proposed for the development, any related contract or other agreement securing those funds and an identification of:
(A) the source and annual amount of the funds;
(B) the number of units receiving the funds; and
(C) the term and expiration date of the contract or other agreement;
(5) if the development is located within the boundaries of a political subdivision with a zoning ordinance, evidence in the form of a letter from the chief executive officer of the political subdivision or from another local official with jurisdiction over zoning matters that states that:
(A) the development is permitted under the provisions of the ordinance that apply to the location of the development; or
(B) the applicant is in the process of seeking the appropriate zoning and has signed and provided to the political subdivision a release agreeing to hold the political subdivision and all other parties harmless in the event that the appropriate zoning is denied;
(6) if an occupied development is proposed for rehabilitation:
(A) an explanation of the process used to notify and consult with the tenants in preparing the application;
(B) a relocation plan outlining:
(i) relocation requirements; and
(ii) a budget with an identified funding source; and
(C) if applicable, evidence that the relocation plan has been submitted to the appropriate local agency;
(7) a certification of the applicant's compliance with appropriate state and federal laws, as required by other state law or by the board;
(8) any other information required by the board in the qualified allocation plan; and
(9) evidence that the applicant has notified the following entities with respect to the filing of the application:
(A) any neighborhood organizations on record with the state or county in which the development is to be located and whose boundaries contain the proposed development site;
(B) the superintendent and the presiding officer of the board of trustees of the school district containing the development;
(C) the presiding officer of the governing body of any municipality containing the development and all elected members of that body;
(D) the presiding officer of the governing body of the county containing the development and all elected members of that body; and
(E) the state senator and state representative of the district containing the development.