Texas Register, Volume 42, Number 43, Pages 5913-6056, October 27, 2017 Page: 5,964
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(6) HOME Match-Eligible Unit--a Unit in the Develop-
ment that is not assisted with HOME Program funds, but would qual-
ify as eligible for Match under 24 CFR Part 92. Unless otherwise
identified by the provisions in the NOFA, TCAP-RF funds and match-
ing contribution on NSP and NHTF Developments must be used on
HOME-Match Eligible Units.
(7) Land Use Restriction ("LURA") Term--the period com-
mencing on the effective date of the LURA and ending on the date
which is the greater of the loan term or 30 years.
() [(4)] Matching contribution (Match)--a contribution to
a [proposed] Development from non-federal [nonfederal] sources that
may be in the form of one or more of the following:
(A) Cash contribution (grant), except for cash contri-
butions made by investors in a [investor] limited partnership or other
business entity subject to pass through tax benefits [partner] in a tax
credit transaction or owner equity (including deferred developer fee);
(B) Reduced fees or donated labor from certain eligible
contractors, subcontractors, architects, attorneys, engineers, excluding
any contributions from a party related to the Developer or Owner;
(C) Net present value of yield foregone from a below
market interest rate loan as described in CPD Notice 97-03;
(D) Waived or reduced fees from cities or counties not
related to the Applicant in connection with the proposed Development;
(E) Donated land or land sold below market value, as
evidenced by a third party appraisal, from an unrelated party.
(9) Relocation Plan--a residential anti-displacement and
relocation assistance plan which (i) includes provisions consistent
with the requirements of the Uniform Relocation Assistance and Real
Property Acquisition Policies Act of 1970 (42 U.S.C. 4601-4655),
implementing regulations at 49 CFR Part 24, and policy guidance in
Real Estate Acquisition and Relocation Policy and Guidance (HUD
Handbook 1378) and the TDHCA Relocation Handbook; and in some
HOME and NSP funded developments Section 104(d) of the Housing
and Community Development Act of 1974, as amended and 24 CFR
Part 42 (as modified for NSP), and (ii) is in form and substance
consistent with requirements of the Department.
(10) [(-)] Section 234 Condominium Housing basic mort-
gage limits ("234 Condo Limits")--the per-unit subsidy limits for all
MFDL funding. These limits take into account whether or not a De-
velopment is elevator served and any local conditions that may make
development of multifamily housing more or less expensive in a given
metropolitan statistical area. Currently, the high cost percentage ad-
justment applicable to the 234 Condo Limits for HUD's Fort Worth
Multifamily Hub is applicable for all Developments that TDHCA fi-
nances through the MFDL Program.
(11) State Affordability Period--the LURA Term as de-
scribed in the MFDL contract and loan documents and as required
by Department in accordance with the State Act which is usually an
additional period after the Federal Affordability Period.
13.3. General Loan Requirements.
(a) Direct Loan funds may be made available through a No-
tice of Funding Availability ("NOFA") or other similar governing doc-
ument that includes the basic Application and funding requirements.
[MFDb funds may kbed to directly assist distressed developments
priex4usly funded by the Depamentwhen approved by spei4e action
of the Department's ,(ioYerniig Board ("Board)]
(b) Direct loan funds may not be awarded if an underwriting
report that has been issued by the Department Real Estate AnalysisDivision has become final and concludes that the Development does
not need the MDFL funding for which it has applied because it is over
sourced.
c) [-b)] Direct Loan funds are composed of annual HOME
and National Housing Trust Fund allocations from HUD, repayment
of TCAP loans, HOME Program Income, NSP Program Income, and
any other similarly encumbered funding that may become available by
Board action, except as otherwise noted in this Chapter. Similar funds
include any funds that are required to be to be loaned or granted for the
development of multifamily property and are not governed by another
Chapter in this Title.
(d) [(c)] Direct Loan funds may be used for the acquisition,
new construction, reconstruction, or rehabilitation of affordable hous-
ing with suitable amenities, including real property acquisition, site
improvements, conversion, demolition, or operating cost reserves, all
subject to HUD guidance. Other expenses, such as financing costs,
relocation expenses of any displaced persons, families, businesses, or
organizations may be included. MFDL funds may be used to assist
directly distressed developments previously funded by the Department
when approved by specific action of the Department's Governing Board
"Board"
(e) [(d)] While all costs associated with the Development and
known by the sponsor must be disclosed as part of the Application,
costs ineligible for reimbursement with Direct Loan funds in accor-
dance with 24 CFR Part 91, Part 92, Part 93, and 2 CFR Part 200, as
federally required or identified in the NOFA include but are not limited
to:
(1) Offsite costs;
(2) Stored Materials;
(3) Site Amenities;
(4) Detached Community Buildings;
(5) Carports and/or garages;
(6) Parking garages;
(7) Swimming pools;
(8) [(7)] Commercial Space costs;
(9) [(8-)] Reserve accounts not related to NHTF;
(10) [(9)] TDHCA fees;
(11) Syndication and organizational costs;
(12) [(-140)] Delinquent fees, taxes, or charges;
(13) [(-1-] Costs incurred more than 24 months prior to the
effective date of the Direct Loan Contract unless the Application is
awarded TCAP Loan Repayment funds;
(14) Costs that have been allocated to or paid by another
fund source;
(15) Deferred Developer fee; and,
(16) [(-2)] Other costs limited by Award or NOFA, or as
established by the Board.
13.4. Set-asides, Regional Allocation, and Priorities.
(a) Set-asides: Specific types of Applications or Develop-
ments for which a portion of MFDL funds may be reserved in a NOFA
will be grouped in set-asides. The Supportive Housing/Soft Repay-
ment set-aside, CHDO set-aside, and General set-aside, as described
below, are fixed set-asides that will be included in the annual NOFA.
The remaining set-asides described below are flexible set-asides and42 TexReg 5964 October 27, 2017 Texas Register
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Texas. Secretary of State. Texas Register, Volume 42, Number 43, Pages 5913-6056, October 27, 2017, periodical, October 27, 2017; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth897027/m1/52/?q=%22%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.