| (11) Right of First Refusal Fee. Requests for approval
of the satisfaction of the Right of First Refusal provision of the
Land Use Restriction Agreement (LURA) must be accompanied by a non-refundable
fee of $2,500.
(12) Qualified Contract Pre-Request Fee. A Development
Owner must file a preliminary Qualified Contract Request to confirm
eligibility to submit a Qualified Contract request. The Pre-Request
must be accompanied by a non-refundable processing fee of $250.
(13) Qualified Contract Fee. Upon eligibility approval
of the Qualified Contract Pre-Request, the Development Owner may file
a Qualified Contract Request. Such request must be accompanied by
a non-refundable processing fee of $3,000.
(14) Ownership Transfer Fee. Requests to approve an
ownership transfer must be accompanied by a non-refundable processing
fee of $1,000. Ownership Transfer fees are not required for Direct
Loan only Developments during the Federal Affordability Period.
(15) Unused Credit or Penalty Fee for Competitive HTC
Applications. Development Owners who have more tax credits allocated
to them than they can substantiate through Cost Certification will
return those excess tax credits prior to issuance of IRS Form 8609.
A penalty fee equal to the one year credit amount of the lost credits
(10% of the total unused tax credit amount) will be required to be
paid by the Owner prior to the issuance of IRS Form 8609 if the tax
credits are not returned, and 8609's issued, within 180 days of the
end of the first year of the credit period. This penalty fee may be
waived without further Board action if the Department recaptures and
re-issues the returned tax credits in accordance with Code, §42.
If an Applicant returns a full credit allocation after the Carryover
Allocation deadline required for that allocation, the Executive Director
may recommend to the Board the imposition of a penalty on the score
for any Competitive Housing Tax Credit Applications submitted by that
Applicant or any Affiliate for any Application in an Application Round
occurring concurrent to the return of credits as further provided
for in §11.9(f) of this chapter (relating to Factors Affecting
Scoring and Eligibility in current and future Application Rounds),
or if no Application Round is pending, the Application Round immediately
following the return of credits. If any such point penalty is recommended
to be assessed and presented for final determination by the Board,
it must include notice from the Department to the affected party not
less than 14 calendar days prior to the scheduled Board meeting. The
Executive Director may, but is not required to, issue a formal notice
after disclosure if it is determined that the matter does not warrant
point penalties.
(16) Compliance Monitoring Fee. Upon receipt of the
cost certification for HTC Developments, HTC Developments that are
layered with Direct Loan funds, or upon the completion of the Development
Period and the beginning of the repayment period for Direct Loan only
Developments, the Department will invoice the Development Owner for
compliance monitoring fees. For HTC only the amount due will equal
$40 per low-income unit. For Direct Loan Only Developments the fee
will be $34 per Direct Loan Units, including HOME Match Eligible Units.
Developments with both HTCs and Direct Loan, including HOME Match
Eligible Units, will only pay one fee equal to $40 per low income
unit. Existing HTC developments with a Land Use Restriction Agreement
that require payment of a compliance monitoring fee that receive a
second allocation of credit will pay only one fee; the fee required
by the original Land Use Restriction Agreement will be disregarded.
For HTC Developments, the fee will be collected, retroactively if
applicable, beginning with the first year of the credit period. For
Direct Loan only Developments, the fee will be collected beginning
with the first year of after Project Completion. The invoice must
be paid prior to the issuance of IRS Form 8609 for HTC properties.
For Direct Loan only Developments, the fee must be paid prior to the
release of final retainage. Subsequent anniversary dates on which
the compliance monitoring fee payments are due shall be determined
by the month the first building is placed in service. Compliance fees
may be adjusted from time to time by the Department.
(17) Public Information Request Fee. Public information
requests are processed by the Department in accordance with the provisions
of Tex. Gov't Code, Chapter 552. The Department uses the guidelines
promulgated by the Office of the Attorney General to determine the
cost of copying and other costs of production.
(18) Adjustment of Fees by the Department and Notification
of Fees. (§2306.6716(b)) All fees charged by the Department in
the administration of the Housing Tax Credit and Direct Loan programs
may be revised by the Department from time to time as necessary to
ensure that such fees compensate the Department for its administrative
costs and expenses. Unless otherwise determined by the Department,
all revised fees shall apply to all Applications in process and all
Developments in operation at the time of such revisions.
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