Section 2306.802 - Multifamily Housing Preservation Classes 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.Tex. Gov't. Code § 2306.802
Added by Acts 2001, 77th Leg., ch. 1367, Sec. 3.05, eff. 9/1/2001.