| (a) The Department administers all Texas HTF funds
provided to the Department in accordance with Tex. Gov't Code, Chapter
2306. The Department may solicit gifts and grants to endow the fund.
(b) Pursuant to Tex. Gov't Code §2306.202(b),
use of the Texas HTF is limited to providing:
(1) Assistance for individuals and families of low
and very low income;
(2) Technical assistance and capacity building to nonprofit
organizations engaged in developing housing for individuals and families
of low and very low income;
(3) Security for repayment of revenue bonds issued
to finance housing for individuals and families of low and very low
income; and
(4) Subject to the limitations in Tex. Gov't Code §2306.251(c),
the Department may also use the fund to acquire property to endow
the fund.
(c) Set-Asides. In accordance with Tex. Gov't Code §2306.202(a)
and program guidelines:
(1) In each biennium, the first $2.6 million available
through the Texas HTF for loans, grants, or other comparable forms
of assistance shall be set aside and made available exclusively for
Local Units of Government, Public Housing Authorities, and Nonprofit
Organizations;
(2) Any additional funds may also be made available
to for-profit organizations provided that at least 45% of available
funds, as determined on September 1 of each state fiscal year, in
excess of the first $2.6 million shall be made available to Nonprofit
Organizations for the purpose of acquiring, rehabilitating, and developing
decent, safe, and sanitary housing; and
(3) The remaining portion shall be distributed to Nonprofit
Organizations, for-profit organizations, and other eligible entities,
pursuant to Tex. Gov't Code §2306.202.
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