|(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
(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
(5) Prior to issuing an Applicant eligibility letter
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 an Applicant eligibility letter
to the Owner-Builder Applicant, 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.