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THDA amends and approves acquisition cost limit increase for single-family programs
Summary
The Board approved an acquisition cost limit increase for Single-Family Programs after amending the proposal to remove a clause that would have delegated future adjustment authority to the Executive Director.
Lindsay Hall, Chief Operating Officer of Single-Family Loan Programs, presented a proposed increase to the acquisition cost limit for Single-Family Programs. Treasurer David Lillard moved to amend the proposal by removing the language that would have delegated to the Executive Director the ability to adjust the limit in the future; Alex Schuhmann seconded the amendment and the Board approved the amended proposal.
The amendment removes the delegation clause and leaves the adjusted acquisition cost limit subject to Board approval for any future changes, per the motion that carried at the May meeting.
