1. (a) To the extent funds are available, the amount of financial assistance provided by the board under this subchapter will be determined as follows:

   1. (1) if the adjusted median household income for the project area is less than or equal to 75% but greater than 60% of the median state household income, the financial assistance provided by the board will be a grant for 50% of the amount of the financial assistance requested in the application;
   2. (2) if the adjusted median household income for the project area is less than or equal to 60% but greater than 50% of the median state household income, the financial assistance provided by the board will be a grant for 75% of the amount of the financial assistance requested in the application; and
   3. (3) if the adjusted median household income for the service area is less than or equal to 50% of the median state household income, the financial assistance provided by the board will be a grant for 90% of the amount of the financial assistance requested in the application.
2. (b) The remaining portion of the amount of the financial assistance requested in the application not provided as a grant shall be provided by a loan from another board program.
3. (c) The amount of grant funds provided to an applicant pursuant to this subchapter shall not exceed one million dollars.
4. (d) If the applicant will be providing the remaining portion of the project costs from sources other than board programs, then the applicant shall provide evidence satisfactory to the executive administrator that the applicant has secured the additional funds prior to the release of funds provided under this subchapter.

Source Note:The provisions of this §363.1106 adopted to be effective May 11, 2004, 29 TexReg 4547.