(a) Prior to initiation of construction, the project must have a favorable executive administrator's recommendation which is based upon a formal environmental review during planning, as provided under §363.14 of this title (relating to Environmental Assessment).
(b) The executive administrator will advise the board concerning projects that involve major economic or administrative impacts to the applicant resulting from environmentally-related special mitigative or precautionary measures from an environmental assessment under §363.14 of this title (relating to Environmental Assessment) for board decision of whether the loan recipient shall be allowed to use board funds to initiate construction. The board may require a loan recipient to return funds that have been released which the board determines should not be expended based on the environmental review.

Source Note: The provisions of this §363.723 adopted to be effective August 8, 1996, 21 TexReg 7265.