To be qualified as a Class I Builder by the Agency, a builder must:
- (1) Have a HUD rating of 100, current within two (2) years, or have met the performance goal standards under the most recent Reservation of Funds Program for builders.
- (2) Have a previously reserved funds with the Agency
- (3) Have previous FHA/VA building.
- (4) Have a net worth of at least $200,000 supported by a current financial statement. This statement is subject to verification by the Agency which require an audit.
- (5) Submit a current letter from a financial institution or institutions indicating construction funds will be made available to the Builder.
- (6) Have been engaged in the shelter construction industry in the State of Tennessee as his primary business for the previous two (2) years.
Authority: T.C.A. §13-2315 (18). Original rule filed August 15, 1979, effective September 28, 1979. Amendment filed December 7, 1980; effective February 11, 1981