Texas Register, Volume 46, Number 38, Pages 5983-6306, September 17, 2021 Page: 6,068
5985-6306 p. ; 28 cm.View a full description of this periodical.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
stairwells, elevator shafts, janitor closets, electrical closets, balconies,
porches, patios, or other areas not actually available to the tenants for
their furnishings, nor does NRA include the enclosing walls of such
areas.
(83) Non-HTC Development--Sometimes referred to as
Non-HTC Property. Any Development not utilizing Housing Tax
Credits or Exchange funds.
(84) Notice of Funding Availability (NOFA)--A notice is-
sued by the Department that announces funding availability, usually on
a competitive basis, for multifamily rental programs requiring Appli-
cation submission from potential Applicants.
(85) Off-Site Construction--Improvements up to the De-
velopment Site such as the cost of roads, water, sewer, and other utili-
ties to provide access to and service the Site.
(86) Office of Rural Affairs--An office established within
the Texas Department of Agriculture; formerly the Texas Department
of Rural Affairs.
(87) One Year Period (1YP)--The period commencing on
the date on which the Department and the Owner agree to the Qualified
Contract price in writing and continuing for 12 calendar months.
(88) Original Application--The Competitive HTC Appli-
cation submitted and approved in 2019 or 2020 for an awarded De-
velopment as it relates to a request made for a Supplemental 2022 Al-
location.
(89) Owner--See Development Owner.
(90) Person--Without limitation, any natural person, cor-
poration, partnership, limited partnership, joint venture, limited liabil-
ity company, trust, estate, association, cooperative, government, po-
litical subdivision, agency or instrumentality or other organization or
entity of any nature whatsoever, and shall include any group of Per-
sons acting in concert toward a common goal, including the individual
members of the group.
(91) Person or Persons with Disabilities--With respect to
an individual, means that such person has:
(A) A physical or mental impairment that substantially
limits one or more major life activities of such individual;
(B) A record of such an impairment; or
(C) Is regarded as having such an impairment, to in-
clude persons with severe mental illness and persons with substance
abuse disorders.
(92) Physical Needs Assessment--See Scope and Cost Re-
view.
(93) Place--An area defined as such by the United States
Census Bureau, which, in general, includes an incorporated city, town,
or village, as well as unincorporated areas known as Census Desig-
nated Places. Any part of a Census Designated Place that, at the time
of Application, is within the boundaries of an incorporated city, town
or village will be considered as part of the incorporated area. The De-
partment may provide a list of Places for reference.
(94) Post Award Activities Manual--The manual produced
and amended from time to time by the Department which explains the
post award requirements and provides guidance for the filing of such
documentation.
(95) Potential Demand--The number of income-eligible,
age-, size-, and tenure-appropriate target households in the designated
market area at the proposed placement in service date.(96) Preservation--Activities that extend the Affordability
Period for rent-restricted Developments that are at risk of losing low-
income use restrictions or subsidies.
(97) Primary Market--Sometimes referred to as "Primary
Market Area." The area defined by the Market Analyst as described in
11.303 of this chapter (relating to Market Analysis Rules and Guide-
lines) from which a proposed or existing Development is most likely
to draw the majority of its prospective tenants or homebuyers.
(98) Primary Market Area (PMA)--See Primary Market.
(99) Principal--Persons that will be capable of exercising
Control pursuant to 11.1(d) of this chapter (relating to the definition
of Control) over a partnership, corporation, limited liability company,
trust, or any other private entity.
(100) Pro Forma Rent--For a restricted Unit, the lesser of
the Net Program Rent or the Market Rent. For an unrestricted Unit,
the Market Rent. Contract Rents, if applicable, will be used as the Pro
Forma Rent.
(101) Property--The real estate and all improvements
thereon which are the subject of the Application (including all items
of personal property affixed or related thereto), whether currently
existing or proposed to be built or rehabilitated thereon in connection
with the Application.
(102) Qualified Contract (QC)--A bona fide contract to ac-
quire the non-low-income portion of the building for fair market value
and the low-income portion of the building for an amount not less than
the Applicable Fraction (specified in the LURA) of the calculation as
defined within 42(h)(6)(F) of the Code.
(103) Qualified Contract Price (QC Price)--Calculated pur-
chase price of the Development as defined within Code, 42(h)(6)(F)
and as further delineated in 10.408 of this title(relating to Qualified
Contract Requirements).
(104) Qualified Contract Request (Request)--A request
containing all information and items required by the Department
relating to a Qualified Contract.
(105) Qualified Entity--Any entity permitted under Code,
42(i)(7)(A) and any entity controlled by such a qualified entity.
(106) Qualified Nonprofit Development--A Development
which meets the requirements of Code, 42 (h)(5), includes the re-
quired involvement of a Qualified Nonprofit Organization, and is seek-
ing Competitive Housing Tax Credits.
(107) Qualified Nonprofit Organization--An organization
that meets the requirements of Code 42(h)(5)(C) for all purposes, and
for an allocation in the nonprofit set-aside or subsequent transfer of the
property, when applicable, meets the requirements of Tex. Gov't Code
2306.6706, and 2306.6729, and Code, 42(h)(5), including having a
Controlling interest in the Development.
(108) Reconstruction--The demolition of one or more resi-
dential buildings in an Existing Residential Development and the con-
struction of Units on the same or another Development Site. At least
one Unit must be reconstructed in order to qualify as Reconstruction.
The total number of Units to be reconstructed will be determined by
program requirements. Developments using Multifamily Direct Loan
funds are required to follow the applicable federal requirements.
(109) Rehabilitation--The improvement or modification of
an Existing Residential Development through alteration, incidental ad-
dition or enhancement. The term includes the demolition of an Ex-
isting Residential Development and the Reconstruction of any Devel-
opment Units on the Development Site, but does not include Adaptive46 TexReg 6068 September 17, 2021 Texas Register
Upcoming Pages
Here’s what’s next.
Search Inside
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Periodical.
Texas. Secretary of State. Texas Register, Volume 46, Number 38, Pages 5983-6306, September 17, 2021, periodical, September 17, 2021; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1385246/m1/86/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.