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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 II. MULTIFAMILY HOUSING DEVELOPMENTS: PRESERVATION OF AFFORDABILITY |
Sec. 2306.851. APPLICATION
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(a) This subchapter applies only to a property owner of a multifamily housing development that is insured or assisted under a program under Section 8, United States Housing Act of 1937 (42 U.S.C. Section 1437f), or that is:
(1) insured or assisted under a program under:
(A) Section 221(d)(3), National Housing Act (12 U.S.C. Section 1715l);
(B) Section 236, National Housing Act (12 U.S.C. Section 1715z-1); or
(C) Section 514, 515, or 516, Housing Act of 1949 (42 U.S.C. Section 1484, 1485, or 1486); and
(2) financed by a mortgage that is eligible for prepayment at the option of the property owner.
(b) This subchapter does not apply to the disposal of property because of:
(1) a governmental taking by eminent domain or negotiated purchase;
(2) a foreclosure action;
(3) a transfer by gift, devise, or operation of law; or
(4) a sale to a person who would be entitled to an interest in the property if the property owner died intestate.
(c) This subchapter does not apply to property included in a restructuring program with a participating administrative entity designated by the United States Department of Housing and Urban Development.