The following words and terms, when used in this chapter, shall
have the following meanings, unless the context clearly indicates
otherwise. Other definitions may be found in Tex. Gov't Code, Chapter
2306, Chapter 1 of this title (relating to Administration), Chapter
2 of this title (relating to Enforcement), Chapter 20 of this title
(relating to Single Family Programs Umbrella Rule), Chapter 21 of
this title (relating to Minimum Energy Efficiency Requirements for
Single Family Construction Activities), and Chapter 26 of this title
(relating to Texas Housing Trust Fund Rule).
(1) Capital Recovery Fee--A charge or assessment imposed
by a political subdivision against new development in order to generate
revenue for funding or recouping the costs of capital improvements
or facility expansions necessitated by and attributable to the new
development. The term includes amortized charges, lump-sum charges,
contributions in aid of construction, and any other fee that functions
as described by this definition.
(2) Loan Commitment--A written agreement between the
Department and Administrator that memorializes the term of the commitment
of funds for a specific Mortgage Loan to a Qualified Household.
(3) Loan Origination and Reservation System Access
Agreement (Reservation Agreement)--A written agreement, including
all amendments thereto between the Department and the Administrator
that authorizes the Administrator to originate certain loans under
the Texas Bootstrap Loan Program.
(4) Low Income--Household income does not exceed the
greater of 80% of the Area Median Family Income or 80% of the State
Median Family Income, adjusted for Household size, in accordance with
the current HOME Investment Partnerships Program income limits, as
defined by HUD.
(5) New Construction--A Single Family Housing Unit
that is newly built on a previously vacant lot that will be occupied
by an Income Eligible Household.
(6) Owner-Builder--A person, other than a person who
owns or operates a construction business and who owns or purchases
a piece of real property through a warranty deed and deed of trust;
or is purchasing a piece of real property under a Contract for Deed
entered into before January 1, 1999; and who undertakes to make improvements
to that property.
(7) Rehabilitation--The improvement, including reconstruction,
or modification of an existing Single Family Housing Unit through
an alteration, addition, or enhancement on the same lot.
(8) Very Low Income--Household income does not exceed
the greater of 60% of the Area Median Family Income or 60% of the
State Median Family Income, adjusted for Household size, in accordance
with the current HOME Investment Partnerships Program income limits,
as defined by HUD.
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