1. (a) Section 4A City Projects. The projects of an applicant created pursuant to the Act, §4A must meet the definition of "Project" as that term is defined by the Act, §2(11), subject to the limitations imposed by the Act, §4A(i).
2. (b) Section 4B City Projects. An applicant created pursuant to the Act, §4B must meet the definition of "Project" as that term is defined by the Act, §4B(a)(2).
3. (c) Special Rules for Commercial Projects in Blighted or Economically Depressed Areas and Development Areas. Under the Act, the financing of the cost of eligible projects for commercial use is confined to, among others, geographic areas within the corporate limits of a city found and determined by the governing body of such city to be either a blighted area or economically depressed (or areas immediately adjacent thereto) or a development area. Rules for establishing a blighted area are set forth in §180.2(b)(9)(A) of this title (relating to Industrial Revenue Bond Program). Rules for establishing an economically depressed area or a development area are set forth in §180.2(b)(9)(B) of this title. Such rules are applicable to commercial projects located in blighted or economically depressed areas and development areas for which application is made for a program loan.

Source Note:The provisions of this §181.5 adopted to be effective March 27, 1997, 22 TexReg 2871; amended to be effective December 10, 2001, 26 TexReg 10054.