1. (a) Terms of Agreement. RSP Agreement will have a twenty-four (24) month term for all Activities. Execution of an RSP Agreement does not guarantee the availability of funds under a reservation system.
2. (b) Limits on Number of Reservations. The number of Homeowner Rehabilitation, Homebuyer Assistance or Single Family Development reservations for an RSP is limited to five (5) per county within the RSP's Service Area at any given time. The number of Tenant-Based Rental Assistance reservations for an RSP is limited to thirty (30) at any given time. All required documentation for the reservation of funds must be submitted to the Department twenty (20) days prior to the end of RSP Agreement term.
3. (c) Extremely Low-Income Households. Except for Households served with disaster relief, homebuyer assistance, or single family development funds, each RSP will be required to serve at least one extremely low-income Household out of every four Households submitted and approved for assistance. For purposes of this subsection, extremely low-income is defined as families that are either at or below 30% area median family income (AMFI) for the county in which they reside or have an income that is lower than the statewide extremely low-income limit as defined by the U.S. Department of Housing and Urban Development (HUD).
4. (d) Match. An RSP must meet the tiered Match requirements per Activity for at least every fourth Household submitted and approved for assistance. For example, if Match is not provided for the first three Households assisted by an RSP, the Match provided to the fourth Household must meet the Match requirement for all four Households.
5. (e) Completion of Construction. For Projects involving construction, an RSP must complete construction within twelve (12) months from the Commitment of Funds for the Project.
6. (f) Extensions. The Executive Director or his/her designee may approve one three (3) month time extension to the Commitment of Funds to allow for the completion of construction.
7. (g) An RSP must remain in good standing with the Department, the state of Texas, and HUD. If an RSP is not in good standing, participation in the Reservation System will be suspended and may result in termination of the RSP Agreement.

Source Note:The provisions of this §23.26 adopted to be effective October 31, 2012, 37 TexReg 8477; amended to be effective June 2, 2013, 38 TexReg 3333; amended to be effective January 5, 2014, 38 TexReg 9494.