SECTION 371.32. Review of Applications for Financial Assistance

(a) Review of applications. The executive administrator will review the application to ensure that sufficient information has been provided to support the eligibility of the Applicant and the project. The executive administrator may request that the information or data for any portion of the application be modified or supplemented.

(b) Submittal of requested information. If the Applicant fails to submit information or data requested within the established time period, then the executive administrator may notify the Applicant that the application is incomplete and will be bypassed.

(c) If an applicant does not proceed through the application process and obtain a commitment within the application timeframes established within the applicable IUP, the principal forgiveness may be re-allocated to another eligible project. An extension of time for obtaining a commitment may be granted at the discretion of the executive administrator.

Source Note: The provisions of this §371.32 adopted to be effective August 4, 2010, 35 TexReg 6680; amended to be effective April 28, 2011, 36 TexReg 2610; amended to be effective July 4, 2016, 41 TexReg 4844