Tex. Local Gov't Code Section 394.9025
Multifamily Residential Development

(a)

Following a public hearing, a housing finance corporation may issue bonds to finance a multifamily residential development to be owned by the housing finance corporation if at least 50 percent of the units in the multifamily residential development are reserved for occupancy by individuals and families earning less than 80 percent of the area median family income.

(b)

Following a public hearing by the governing body of the local government, a housing finance corporation may issue bonds to finance a multifamily residential development to be owned by the housing finance corporation in accordance with Section 394.004 (Application of Chapter to Certain Residential Developments) if the housing finance corporation receives approval of the governing body of the local government.
Added by Acts 2001, 77th Leg., ch. 1493, Sec. 3, eff. Aug. 31, 2002.

Source: Section 394.9025 — Multifamily Residential Development, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­394.­htm#394.­9025 (accessed Jun. 5, 2024).

394.001
Short Title 394.002
Purpose 394.003
Definitions 394.004
Application of Chapter to Certain Residential Developments 394.005
Application of Chapter to Property in Certain Municipalities 394.011
Application for Incorporation 394.012
Application for Incorporation Of, and Other Special Provisions For, Joint Corporation 394.013
Incorporators 394.014
Articles of Incorporation 394.015
Filing of Articles of Incorporation 394.016
Amendment of Articles of Incorporation 394.017
Filing of Articles of Amendment 394.021
Board of Directors 394.022
Organizational Meeting 394.023
Disposition of Corporate Earnings 394.024
Registered Office and Agent 394.025
Corporate Books and Records 394.026
Dissolution of Corporation 394.027
Annual Report 394.031
Exercise of Powers 394.032
General Powers 394.033
Corporate Name 394.034
Officers 394.035
Bylaws 394.036
Acceptance of Financial Assistance 394.037
Bonds 394.038
Acquisition of Shares or Obligations 394.039
Specific Powers Relating to Financial and Property Transactions 394.040
Transactions with Lending Institutions 394.041
Standards for Mortgages or Loans 394.042
Disposal of Residential Developments or Home Mortgages 394.051
Bonds 394.052
Bond Covenants 394.053
Validity of Bonds 394.054
Security for Bonds 394.055
Liability for Bonds and Contracts 394.056
Bond as Security 394.057
Bond as Authorized Investment or as Security for Deposit 394.901
Designation of Area as Economically Depressed or Blighted 394.902
Housing for Elderly 394.903
Location of Residential Development 394.904
Exemption from Requirements and Restrictions Applying to Public Property 394.905
Exemption from Taxation 394.906
Conditions Under Which Federal Guarantee or Home Mortgage Insurance Not Required 394.907
Corporation Powers Not Restricted 394.9025
Multifamily Residential Development
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Accessed:
Jun. 5, 2024

§ 394.9025’s source at texas​.gov