| (a) Pre-Inducement Questionnaire. Prior to the filing
of a pre-application, the Applicant shall submit the Pre-Inducement
Questionnaire, in the form prescribed by the Department, so the Department
can have a preliminary understanding of the proposed Development plan
before a pre-application and corresponding fees are submitted. After
reviewing the pre-inducement questionnaire, Department staff will
follow-up with the Applicant to discuss the next steps in the process
and may schedule a pre-inducement conference call or meeting. Prior
to the submission of a pre-application, it is essential that the Department
and Applicant communicate regarding the Department's objectives and
policies in the development of affordable housing throughout the State
using Bond financing. The acceptance of the questionnaire by the Department
does not constitute a pre-application or Application and does not
bind the Department to any formal action regarding an inducement resolution.
(b) Neighborhood Risk Factors. If the Development Site
has any of the characteristics described in §11.101(a)(3)(D)
of this part (relating to Neighborhood Risk Factors), the Applicant
must disclose the presence of such characteristics to the Department.
Disclosure may be done at time of pre-application and handled in connection
with the inducement or it can be addressed at the time of Application
submission. The Applicant understands that any determination made
by staff or the Board at the time of bond inducement regarding Site
eligibility based on the documentation presented, is preliminary in
nature. Should additional information related to any of the Neighborhood
Risk Factors become available while the Tax-Exempt Bond Development
Application is under review, or the information by which the original
determination was made changes in a way that could affect eligibility,
then such information will be re-evaluated and presented to the Board.
(c) Pre-Application Process. An Applicant who intends
to pursue Bond financing from the Department shall submit a pre-application
by the corresponding pre-application submission deadline, as set forth
by the Department. The required pre-application fee as described in §12.10
of this chapter (relating to Fees) must be submitted with the pre-application
in order for the pre-application to be considered accepted by the
Department. Department review at the time of the pre-application is
limited and not all issues of eligibility, fulfillment of threshold
requirements in connection with the full Application, and documentation
submission requirements pursuant to Chapter 11 of this part (relating
to Housing Tax Credit Program Qualified Allocation Plan) are reviewed.
The Department is not responsible for notifying an Applicant of potential
areas of ineligibility or other deficiencies at the time of pre-application.
If the Development meets the criteria as described in §12.5 of
this chapter (relating to Pre-Application Threshold Requirements),
the pre-application will be scored and ranked according to the selection
criteria as described in §12.6 of this chapter (relating to Pre-Application
Scoring Criteria). The selection criteria, as further described in §12.6
of this chapter, reflects a structure that gives priority consideration
to specific criteria as outlined in Tex. Gov't Code, §2306.359,
as well as other important criteria. Tie Breakers. Should two or more
pre-applications receive the same score, the Department will utilize
the factors in this section, which will be considered in the order
they are presented herein, to determine which pre-application will
receive preference in consideration of a Certificate of Reservation:
(1) To the pre-application that was on the waiting
list with the TBRB but did not have an active Certificate of Reservation
at the time of the TBRB lottery and achieved the maximum number of
points under §12.6(12) of this chapter (relating to Waiting List);
and
(2) To the pre-application with the highest number
of positive points achieved under §12.6(9)of this chapter (relating
to Development Support/Opposition).
(d) Inducement Resolution. After the pre-applications
have been scored and ranked, the pre-application will be presented
to the Department's Board for consideration of an inducement resolution
declaring the Department's initial intent to issue Bonds with respect
to the Development. Approval of the inducement resolution does not
guarantee final Board approval of the Bond Application. Department
staff may recommend that the Board not approve an inducement resolution
for a pre-application. Notwithstanding the foregoing, Department staff
may, but is not required to, recommend that an inducement resolution
be approved despite the presence of neighborhood risk factors, undesirable
site features, or requirements that may necessitate a waiver, that
have not fully been evaluated by staff at pre-application. The Applicant
recognizes the risk involved in moving forward should this be the
case and the Department assumes no responsibility or liability in
that regard. Each Development is unique, and therefore, making the
final determination to issue Bonds is often dependent on the issues
presented at the time the full Application is considered by the Board.
|
