Texas Rebuilds
COMMUNITY DEVELOPMENT & REVITALIZATION

The Texas General Land Office - George P. Bush, Commissioner

Development Qualifications

There are a number of eligibility criteria and qualifications the development must meet prior to receiving disaster recovery assistance. The minimum qualifications criteria have been established by the Land Office. The development begins the process for qualification and requesting assistance through an application submission.

Application

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Land Use Restriction Agreement

A Land Use Restriction Agreement (LURA) is placed on developments and any applicable lenders must agree to subordinate to the LURA. The Developer / Borrower will guarantee completion of construction until a certificate of occupancy has been issued and retainage has been released. There is a ten year affordability period under the LURA. Read More...

Site Specific - Environmental Review

All properties must receive an environmental clearance before any funds are committed. A site-specific environmental review is completed for the property.

Underwriting

Proposed multifamily projects go through underwriting which review the ownership structure, property operations, the sources and uses of funds, and the financial statements of the owner and guarantor (if applicable). The underlying debt and operating expenses of the property will be reviewed to determine if the project is feasible during the affordability period and demonstrates income adequate to cover operating expenses and applicable debt service. Read More...

Affirming Furthering Fair Housing Review

Use of the disaster recovery funds must affirmatively further fair housing and increase housing choice. The multi-family rental project must address the identified impediments to fair housing choice. Read More...