All Applicants and Applications must submit or comply with this section.

1. (1) Documentation of a commitment of at least $80,000 in cash reserves to facilitate administration of the program and to ensure the capacity to cover costs prior to reimbursement or costs determined to be ineligible for reimbursement. Evidence of this commitment and the amount of the commitment must be included in the Applicant's resolution. To meet this requirement, Applicants must submit:

   1. (A) financial statements indicating adequate local unrestricted cash or cash equivalents to utilize as cash reserves and a letter from the Applicant's bank(s) or financial institution(s) indicating that current account balances are sufficient; or
   2. (B) evidence of an available line of credit or equivalent in an amount equal to or exceeding the requirement in subparagraph (A) of this paragraph; or
   3. (C) the CPA opinion letter from the most recent audit and a statement from the CPA that indicates, based on past experience with grant programs and past audits, the applicant has in place the best practices and financial capacity necessary in order to effectively administer a HOME Program award.

2. (2) Housing construction plans must meet the requirements in Chapter 20 of this title (relating to Single Family Programs Umbrella Rule).

   1. (A) The Department will reimburse only for the first time a set of architectural plans are used unless any subsequent site specific fees are paid to a Third Party architect, or a licensed engineer; and
   2. (B) A NOFA may include incentives or otherwise require architectural plans to incorporate "green building" elements.

Source Note:The provisions of this §23.50 adopted to be effective October 31, 2012, 37 TexReg 8490.