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TITLE 19EDUCATION
PART 1TEXAS HIGHER EDUCATION COORDINATING BOARD
CHAPTER 17RESOURCE PLANNING
SUBCHAPTER FRULES APPLYING TO REAL PROPERTY PURCHASE PROJECTS
RULE §17.50Standards for Improved Real Property Purchase Projects

To facilitate Board review for an improved real property purchase project, an institution shall demonstrate that the project complies with the following standards:

  (1) Space Need--The institution shall demonstrate that the real property project complies with the standards required in §17.30(1)(A) of this title (relating to Space Need).

  (2) Cost--The proposed purchase price should not exceed the higher of two appraisal values. If the purchase price is greater than the highest appraised value, the institution shall demonstrate the need for purchasing the property at the greater value.

  (3) Repair and Renovation--If the project includes repair and renovation of any improvements on the property, the standards in §17.40(1) of this title (relating to Project Standards) shall apply.


Source Note: The provisions of this §17.50 adopted to be effective August 15, 2004, 29 TexReg 7688; amended to be effective February 18, 2008, 33 TexReg 1326; amended to be effective September 4, 2014, 39 TexReg 6850

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