: Texas Administrative Code

Texas Administrative Code

TITLE 19	EDUCATION
PART 1	TEXAS HIGHER EDUCATION COORDINATING BOARD
CHAPTER 17	RESOURCE PLANNING
SUBCHAPTER F	RULES APPLYING TO REAL PROPERTY ACQUISITION PROJECTS
RULE §17.50	Standards for Real Property Acquisition Projects

To obtain Board approval for a real property acquisition 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(2)(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(2) (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

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