The established project standards for Repair and Renovation projects are as follows:     
       (1) Space Need--The project shall not create a campus space surplus, or add to an existing surplus, as determined by the Board's space projection model report, required by §17.100 of this title (relating to Board Reports).      
       (2) Cost--The construction building cost per gross square foot shall not exceed one standard deviation above the mean of similar projects received by the Board within the last seven years, adjusted for inflation as described in the Board's Construction Cost report, §17.100 of this title.      
       (3) Building Efficiency--The institution shall demonstrate that the project does not reduce the existing ratio of NASF to GSF for the building by more than 10 percent. If the project renovation is required to comply with federal or state requirements, the institution shall explain any reduction in the ratio of NASF to GSF for the building.      
     Source Note:        The provisions of this §17.31 adopted to be effective November 11, 2021, 46 TexReg 7604