Sec. 2306.804.  USE OF HOUSING PRESERVATION RESOURCES.  (a)  To the extent possible, the department shall use available resources for the preservation and rehabilitation of the multifamily housing developments identified and listed under Section 2306.803.
(b)  To the extent possible, the department shall allocate low income housing tax credits to applications involving the preservation of developments assigned a Class A priority under Section 2306.803 and in both urban and rural communities in approximate proportion to the housing needs of each uniform state service region.
(c)  The department shall give priority to providing financing or funding to a buyer who is supported or approved by an association of residents of the multifamily housing development.
Added by Acts 2001, 77th Leg., ch. 1367, Sec. 3.05, eff. Sept. 1, 2001.