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Texas Statutes (Last Updated: January 4, 2014) |
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GOVERNMENT CODE |
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Title 10. GENERAL GOVERNMENT |
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Subtitle G. ECONOMIC DEVELOPMENT PROGRAMS INVOLVING BOTH STATE AND LOCAL GOVERNMENTS |
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Chapter 2306. TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS |
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Subchapter GG. COLONIA MODEL SUBDIVISION PROGRAM |
Sec. 2306.786. ADMINISTRATION OF PROGRAM; RULES
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(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.