Any unpaid fees, as stated in this section, will cause an Applicant
to be ineligible to apply for Department funding, ineligible to receive
additional Department funding associated with a Commitment, Determination
Notice or Contract, and ineligible to submit extension requests, ownership
transfers, and Application amendments until such time the Department
receives payment. Payments of the fees shall be in the form of a check
and to the extent there are insufficient funds available, it may cause
the Application, Commitment, Determination Notice or Contract to be
terminated or Allocation rescinded. Other forms of payment may be
considered on a case-by-case basis. Applicants will be required to
pay any insufficient payment fees charged to the Department by the
State Comptroller. The Executive Director may extend the deadline
for specific extenuating and extraordinary circumstances, unless prohibited
by other parts of this Chapter, provided the Applicant submits a written
request for an extension to a fee deadline no later than five business
days prior to the deadline associated with the particular fee. For
any payment that must be submitted in accordance with this chapter,
staff may grant relief of the associated deadline for that payment
for unusual or unpredictable circumstances that are outside of the
Applicant's control such as inclement weather or failed deliveries."
Applicants must submit any payment due under this chapter and operate
under the assumption that the deadline for such payment is final.
(1) Competitive Housing Tax Credit Pre-Application
Fee. A pre-application fee, in the amount of $10 per Unit, based on
the total number of Units reflected in the pre-application, must be
submitted with the pre-application in order for the pre-application
to be considered accepted by the Department. Pre-applications in which
a Community Housing Development Corporation (CHDO) or a private Qualified
Nonprofit Organization intends to serve as the Managing General Partner
of the Development Owner, or Control the Managing General Partner
of the Development Owner, may be eligible to receive a discount of
10% off the calculated pre-application fee provided such documentation
is submitted with the fee. (§2306.6716(d))
(2) Refunds of Competitive HTC Pre-application Fees.
(§2306.6716(c)) Upon written request from the Applicant, the
Department shall refund the balance of the pre-application fee for
a Competitive HTC pre-application that is withdrawn by the Applicant
and that is not fully processed by the Department. The amount of refund
will be commensurate with the level of review completed. Initial processing
will constitute 50% of the review, threshold review prior to a deficiency
being issued will constitute 30% of the review, and review after deficiencies
are submitted and reviewed will constitute 20% of the review. In no
instance will a refund of the pre-application fee be made after the
Full Application Delivery Date.
(3) Application Fee. Each Application must be accompanied
by an Application fee.
(A) Housing Tax Credit Applications. For Applicants
having submitted a Competitive Housing Tax Credit pre-application
which met the pre-application threshold requirements, and for which
a pre-application fee was paid, the Application fee will be $20 per
Unit based on the total number of Units in the full Application. Otherwise,
the Application fee will be $30 per Unit based on the total number
of Units in the full Application. Applications in which a CHDO or
Qualified Nonprofit Organization intends to serve as the Managing
General Partner of the Development Owner, or Control the Managing
General Partner of the Development Owner, may be eligible to receive
a discount of 10% off the calculated Application fee, provided such
documentation is submitted with the fee. (§2306.6716(d))
(B) Direct Loan Applications. The fee will be $1,000
per Application except for those Applications that are layered with
Housing Tax Credits and submitted simultaneously with the Housing
Tax Credit Application. Pursuant to Tex. Gov't Code §2306.147(b),
the Department is required to waive Application fees for private nonprofit
organizations that offer expanded services such as child care, nutrition
programs, job training assistance, health services, or human services
and if Direct Loan funds are awarded. In lieu of the Application fee,
these organizations must include proof of their exempt status and
a description of their supportive services as part of the Application.
The Application fee is not a reimbursable cost under the Direct Loan
Program.
(4) Refunds of Application Fees. Upon written request
from the Applicant, the Department shall refund the balance of the
Application fee for an Application that is withdrawn by the Applicant
and that is not fully processed by the Department. The withdrawal
must occur prior to any Board action regarding eligibility or appeal.
The amount of refund will be commensurate with the level of review
completed. Initial processing will constitute 10% of the review, the
site visit will constitute 10% of the review, program evaluation review
will constitute 40% of the review, and the underwriting review will
constitute 40% of the review. For Competitive HTC Applications, in
no instance will a refund of the Application fee be made after final
awards are made in July.
(5) Third Party Underwriting Fee. Applicants will be
notified in writing prior to the evaluation in whole or in part of
a Development by an independent external underwriter if such a review
is required. The fee must be received by the Department prior to the
engagement of the underwriter. The fees paid by the Development Owner
to the Department for the external underwriting will be credited against
the Commitment or Determination Notice Fee, as applicable, established
in paragraphs (6) and (7) of this section, in the event that a Commitment
or Determination Notice is issued by the Department to the Development
Owner.
(6) Housing Tax Credit Commitment Fee. No later than
the expiration date in the Commitment, a fee equal to 4% of the annual
Housing Credit Allocation amount must be submitted. If the Development
Owner has paid the fee and returns the credits by November 1 of the
current Application Round, then a refund of 50% of the Commitment
Fee may be issued upon request.
(7) Tax Exempt Bond Development Determination Notice
Fee. No later than the expiration date in the Determination Notice,
unless an extension was requested, a fee equal to 4% of the annual
Housing Credit Allocation amount must be submitted. If the Development
Owner has paid the fee and is not able close on the bonds, then a
refund of 50% of the Determination Notice Fee may be issued upon request.
The refund must be requested no later than 30 days after the Certificate
of Reservation expiration deadline.
(8) Tax-Exempt Bond Credit Increase Request Fee. Requests
for increases to the credit amounts to be issued on IRS Forms 8609
than what was reflected in the Determination Notice for Tax-Exempt
Bond Developments must be submitted with a fee equal to 4% of the
amount of the credit increase for one year.
(9) Extension Fees. All extension requests for deadlines
relating to the Carryover, 10% Test (submission and expenditure),
Construction Status Reports, or Cost Certification requirements submitted
at least 30 calendar days in advance of the applicable original deadline
will not be required to submit an extension fee. Any extension request
submitted fewer than 30 days in advance or after the original deadline
must be accompanied by an extension fee of $2,500. Fees for each subsequent
extension request on the same activity will increase by increments
of $500, regardless of whether the first request was submitted thirty
(30) calendar days in advance of the applicable deadline. An extension
fee will not be required for extensions requested on Developments
that involve Rehabilitation when the Department or U.S. Department
of Agriculture (USDA) is the primary lender, if USDA or the Department
is the cause for the Applicant not meeting the deadline. For each
Construction Status Report received after the applicable deadline,
extension fees will be automatically due (regardless of whether an
extension request is submitted). Unpaid extension fees related to
Construction Status Reports will be accrued and must be paid prior
to issuance of IRS Forms 8609. For purposes of Construction Status
Reports, each report will be considered a separate activity. An extension
fee of the deadline to submit the Determination Notice and associated
documents will not be required, provided a written request was submitted
to the Department.
(10) Amendment Fees. An amendment request for a non-material
change that has not been implemented will not be required to pay an
amendment fee. Material amendment requests (whether implemented or
not), or non-material amendment requests that have already been implemented
will be required to submit an amendment fee of $2,500 in order for
the request to be processed. Fees for each subsequent amendment request
related to the same Application will increase by increments of $500.
A subsequent request, related to the same Application, regardless
of whether the first request was non-material and did not require
a fee, must include a fee of $3,000. Amendment fees and fee increases
are not required for the Direct Loan programs during the Federal Affordability
Period.
Cont'd... |
