- (a) Terms of Agreement. RSP Agreements will have up to 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.
- (b) Limits on Number of Reservations. The number of Homeowner Rehabilitation, Homebuyer Assistance or Single Family Development reservations for an RSP is limited to four (4) 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 twenty (20) at any given time. All required documentation for the reservation of funds must be submitted to the Department twenty (20) business days prior to the end of RSP Agreement term.
- (c) Extremely Low-Income Households. Except for Households served with disaster relief, Homebuyer Assistance or Single Family Development assistance, 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 for the county in which they will reside without the increase for poverty guidelines or have an income that is lower than the statewide 30% income limit without adjustments to HUD limits.
- (d) Match. An RSP must meet the Match requirement per Project approved for assistance.
- (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.
- (f) Extensions. The Executive Director or his/her designee or the HOME Program Director may approve one three (3) month time extension to the Commitment of Funds to allow for the completion of construction.
- (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 §23.27 adopted to be effective August 30, 2015, 40 TexReg 5324.