Administration of Program; Rules

Sec. 2306.786. ADMINISTRATION OF PROGRAM; RULES. (a) In administering the program, the department by rule shall adopt: (1) any subdivision standards in excess of local standards the department considers necessary; (2) loan application procedures; (3) program guidelines; and (4) contract award procedures. (b) The department shall adopt rules to: (1) ensure that a borrower under the program sells real property under the program only to an individual borrower, nonprofit housing developer, or for-profit housing developer for the purposes of constructing residential dwelling units; and (2) require a borrower under the program to convey real property under the program at a cost that is affordable to: (A) individuals and families of extremely low income; or (B) individuals and families of very low income. Added by Acts 2001, 77th Leg., ch. 1367, Sec. 2.13, eff. Sept. 1, 2001. SUBCHAPTER HH. AFFORDABLE HOUSING PRESERVATION