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Current as of January 01, 2024 | Updated by Findlaw Staff
The department shall establish two classes of priorities of developments to preserve multifamily housing. The classes, in order of descending priority, are:
(1) Class A, which includes any federally subsidized multifamily housing development at risk because the contract granting a federal subsidy with a stipulation to maintain affordability is nearing expiration or because the government-insured mortgage on the property is eligible for prepayment or near the end of its mortgage term; and
(2) Class B, which includes any other multifamily housing development with low income use or rental affordability restrictions.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 2306.802. Multifamily Housing Preservation Classes - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-2306-802/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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