| (a) The purpose of this subchapter is to establish
the requirements governing the post award and asset management activities
associated with awards of multifamily Development assistance pursuant
to Tex. Gov't Code, Chapter 2306 and its regulation of multifamily
funding provided through the Texas Department of Housing and Community
Affairs (the "Department") as authorized by the legislature. This
subchapter is designed to ensure that Developers and Development Owners
of low-income Developments that are financed or otherwise funded through
the Department maintain safe, decent and affordable housing for the
term of the affordability period. Therefore, unless otherwise indicated
in the specific section of this subchapter, any uncorrected issues
of noncompliance outside of the corrective action period or outstanding
fees (related to the Development subject to the request) owed to the
Department must be resolved to the satisfaction of the Department
before a request for any post award activity described in this subchapter
will be acted upon. Non-compliance issues that cannot be corrected
will be taken into account and will be reviewed by Asset Management
staff to determine if additional action is required by the Development
Owner.
(b) The capitalized terms in this subchapter shall
have the meaning as defined in this title in Chapter 1 relating to
Administration, Chapter 2 relating to Enforcement, Chapter 10 relating
to Uniform Multifamily Rules, Chapter 11 relating to the Qualified
Action Plan (QAP), Chapter 12 relating to the Multifamily Housing
Revenue Bond Rules, Chapter 13 relating to the Multifamily Direct
Loan Rule, Tex. Gov't Code Chapter 2306, Internal Revenue Code (the
Code) §42, the HOME Final Rule, the NHTF Interim Rule, and other
federal or Department rules, as applicable.
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