Section 29.30 - Criteria for Administering RED C4T Funds In administering the funds provided by the initial RED C4T investment, the Recipient:
(1) Shall administer the funds in accordance with the Agreement approved by the Department and the Recipient, applicable statutes, and program rules; (2) Must mobilize the RED C4T funds in a timely manner to ensure the initial investment is meeting the objectives of the RED C4T Program;(3) Shall submit all loan and grant applications for approval by the Department;(4) Shall certify that all loans and grants funded with the RED C4T investment meet the eligibility requirements of this subchapter; and(5) May make loans to new borrowers using funds generated from loan repayments received by the Recipient as a result of loans made by the Recipient under the Agreement; however, no new loans may be made after the Investment Period in the Agreement has expired or terminated.4 Tex. Admin. Code § 29.30
Adopted by Texas Register, Volume 45, Number 52, December 25, 2020, TexReg 9409, eff. 12/29/2020