Texas § GV.2306.805 - HOUSING PRESERVATION INCENTIVES PROGRAM
Full text of Texas The Texas Constitution § GV.2306.805 — HOUSING PRESERVATION INCENTIVES PROGRAM, with citation guidance and answers to common questions.
§ GV.2306.805. HOUSING PRESERVATION INCENTIVES PROGRAM
HOUSING PRESERVATION INCENTIVES PROGRAM. (a) The department shall establish and administer a housing preservation incentives program to provide incentives through loan guarantees, loans, and grants to political subdivisions, housing finance corporations, public housing authorities, for-profit organizations, and nonprofit organizations for the acquisition and rehabilitation of multifamily housing developments assigned a Class A or Class B priority under Section 2306.803 . (b) A loan issued by a lender participating in the program must be fully underwritten by the department. (c) Consistent with the requirements of federal law, the department may guarantee loans issued under the program by obtaining a Section 108 loan guarantee from the United States Department of Housing and Urban Development under the Housing and Community Development Act of 1974 (42 U.S.C. Section 5308). (d) Grants under this program may include direct subsidies offered as an equity contribution to enable an owner to acquire and rehabilitate a Class A or Class B priority property described by Section 2306.802 . Grants may also be offered to provide consultation and technical assistance services to a nonprofit organization seeking to acquire and rehabilitate a Class A or Class B priority property. (e) A housing development that benefits from the incentive program under this section is subject to the requirements concerning: (1) long-term affordability and safety prescribed by Section 2306.185 ; and (2) tenant and manager selection prescribed by Section 2306.269 . Added by Acts 2001, 77th Leg., ch. 1367, Sec. 3.05, eff. Sept. 1, 2001. SUBCHAPTER II. MULTIFAMILY HOUSING DEVELOPMENTS: PRESERVATION OF AFFORDABILITY
Frequently Asked Questions About Texas § GV.2306.805
What does The Texas Constitution § GV.2306.805 cover?
Section GV.2306.805 ("HOUSING PRESERVATION INCENTIVES PROGRAM") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.2306.805?
A common citation format is "The Texas Constitution § GV.2306.805" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.2306.805 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.