reglab/statecodes huggingface dataset:
Florida Administrative Code › 66 - NAVIGATION DISTRICTS › 66B - Florida Inland Navigation District › Chapter 66B-3 - FLORIDA INLAND NAVIGATION DISTRICT LAND ACQUISITION PROCEDURES › Section 66B-3.014 - Property Exchanges

Current through Reg. 50, No. 138; July 16, 2024
All exchanges of real property owned by the District for
				 other land shall be approved by the Board in the same manner as other
				 acquisitions, and shall be placed in the form of a written exchange agreement
				 reviewed and approved by the Board.
Rulemaking Authority  374.984(3)  FS. Law Implemented
					  374.984(1)-(3)  FS.
New 8-17-99.
Florida Administrative Code › 66 - NAVIGATION DISTRICTS › 66B - Florida Inland Navigation District › Chapter 66B-3 - FLORIDA INLAND NAVIGATION DISTRICT LAND ACQUISITION PROCEDURES › Section 66B-3.015 - Property Donations

Current through Reg. 50, No. 138; July 16, 2024
(1) Where the
				Board has determined that ownership of the land being offered to the District
				furthers one or more of the statutory duties of the District, the Board shall
				accept donations of land under the following conditions:
(a) The conveyance must be by no less than a
				special warranty deed, unless the conveyance is from another governmental
				agency or, if a gift or donation is made by quitclaim deed, and the Board
				determines that accepting such quitclaim deed is in the best interest of the
				public.
(b) Evidence of marketable
				title must be supplied either by the landowner or the District. The Board shall
				waive the requirement of evidence of marketability for acquisitions of property
				assessed by the county property appraiser at $10,000 or less, where the
				District finds, based upon such review of the title records as is reasonable
				under the circumstances, that there is no apparent impediment to marketability,
				or to management of the property by the state. The Board shall accept a
				dedication, gift, grant, or bequest of lands and appurtenances without formal
				evidence of marketability if, upon recommendation by the District, the Board
				determines that such lands and appurtenances have value and are reasonably
				manageable by the state, and that their acceptance is in the public
				interest.
(c) An acceptable survey
				must be submitted to and approved by the District. The survey requirement shall
				be waived by the Board, if donated lands are in their natural unimproved
				condition and no improvements are contemplated, if the donated lands are
				completely surrounded by District-owned lands, if a survey cannot practically
				be completed, or where the cost of the survey would be prohibitive relative to
				the expected value of the parcel. Where a survey requirement has been waived by
				the Board for either of the first two reasons set forth in the preceding
				sentence, the District shall have the ability to conduct its own survey and to
				consider the results of such survey in determining whether to accept the
				proposed donation of land.
Florida Administrative Code › 66 - NAVIGATION DISTRICTS › 66B - Florida Inland Navigation District › Chapter 66B-3 - FLORIDA INLAND NAVIGATION DISTRICT LAND ACQUISITION PROCEDURES › Section 66B-3.016 - Acquisition through Condemnation

Current through Reg. 50, No. 138; July 16, 2024
(1) The
				District will only utilize condemnation for land acquisition when the
				acquisition by voluntary, negotiated procedures has been
				unsuccessful.
(2) The District will
				utilize the procedures contained in Chapter 73 or 74, F.S., for condemnation.
				The Board will pass a resolution approving the acquisition of a specific
				property by condemnation.
Rulemaking Authority  374.984(3)  FS. Law Implemented
					  374.984(4)  FS.
New 8-17-99.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part I - ADMINISTRATION › Section 67-21.001 - Purpose and Intent

Current through Reg. 50, No. 138; July 16, 2024
The purpose of this rule chapter is to establish the
					 procedures by which the Corporation shall:
(1) Administer the Application process,
				  determine loan amounts and make and service mortgage loans for new construction
				  or rehabilitation of affordable rental units under the Multifamily Mortgage
				  Revenue Bonds (MMRB) Program authorized by Section
				  420.509, F.S.; and,
(2) Administer the Application process,
				  determine Non-Competitive Housing Credit amounts, and implement the provisions
				  of the Housing Credit (HC) Program authorized by Section
				  42 of the IRC and Section
				  420.5099, F.S.
(3) This rule chapter shall be reviewed, and
				  if necessary, repealed or renewed through the rulemaking process no later than
				  five years from the effective date.
Rulemaking Authority
						420.507,
						420.508 FS. Law Implemented
						420.509,
						420.5099
						FS.
New 7-16-13, Repromulgated 2-2-15, 9-15-16, 5-24-17,
						7-8-18, 7-11-19, Amended 6-23-20, Repromulgated 5-18-21, 7-6-22,
						6-28-23.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part I - ADMINISTRATION › Section 67-21.002 - Definitions

Current through Reg. 50, No. 138; July 16, 2024
(1) "ACC" or "Annual Contribution Contract"
				  means a contract between HUD and a Public Housing Authority containing the
				  terms and conditions under which HUD assists in providing for development of
				  housing units, modernization of housing units, operation of housing units, or a
				  combination of the foregoing.
(2)
				  "Acknowledgment Resolution" means the official action taken by the Corporation
				  to reflect its intent to finance a Development provided that the requirements
				  of the Corporation, the terms of the MMRB Loan Commitment, and the terms of the
				  Credit Underwriting Report are met.
(3) "Act" means the Florida Housing Finance
				  Corporation Act, Chapter 420, Part V, F.S.
(4) "Address" means the address number,
				  street name and city or, at a minimum, street name, closest designated
				  intersection, and whether or not the Development is located within a city or in
				  the unincorporated area of the county. If located within a city, include the
				  name of the city.
(5) "Affiliate"
				  means any person that:
(a) Directly or
				  indirectly, through one or more intermediaries, controls, is controlled by, or
				  is under common control with the Applicant or Developer;
(b) Serves as an officer or director of the
				  Applicant or Developer or of any Affiliate of the Applicant or
				  Developer;
(c) Directly or
				  indirectly receives or will receive a financial benefit from a Development
				  except as further described in Rule
				  67-21.0025, F.A.C., or
(d) Is the spouse, parent, child, sibling, or
				  relative by marriage of a person described in paragraph (a), (b) or (c),
				  above.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part I - ADMINISTRATION › Section 67-21.003 - Application and Selection Process for Developments

Current through Reg. 50, No. 138; July 16, 2024
(1) Unless otherwise set forth in a
				  competitive solicitation pursuant to rule Chapter 67-60, F.A.C., Applicants
				  shall apply for Non-Competitive HC or a combination of MMRB and Non-Competitive
				  HC as set forth below. For purposes of this subsection only, the term NC Award
				  shall refer to Non-Competitive HC or a combination of MMRB and Non-Competitive
				  HC, and funding from the Predevelopment Loan Program (PLP) will not be
				  considered to be other Corporation funding.
(a) If the NC Award will be made available,
				  with or without other Corporation funding, through the competitive solicitation
				  funding process outlined in rule Chapter 67-60, F.A.C., the Applicant shall
				  apply for the NC Award using the forms and procedures specified in the
				  applicable competitive solicitation for such other funding. Unless otherwise
				  specifically provided in the solicitation, all of the substantive provisions of
				  this chapter will continue to apply to the NC Award. Any references in this
				  chapter to "Application" shall mean the application or response submitted for
				  such other funding.
(b) If the NC
				  Award will not be made available through the competitive solicitation funding
				  process outlined in rule Chapter 67-60, F.A.C., the Applicant shall utilize the
				  Non-Competitive Application Package. The Non-Competitive Application Package or
				  NCA (Rev. 06-2023) is adopted and incorporated herein by reference and consists
				  of the forms and instructions available, without charge, on the Corporation's
				  website under the Multifamily Programs link labeled Non-Competitive Programs or
				  from
http://www.flrules.org/Gateway/reference.asp?No=Ref-15428
,
				  which shall be completed and submitted to the Corporation in accordance with
				  this rule chapter.
(c) All
				  Applications must be complete, legible and timely when submitted, except as
				  described below. Corporation staff may not assist any Applicant by copying,
				  collating, or adding documents to an Application nor shall any Applicant be
				  permitted to use the Corporation's facilities or equipment for purposes of
				  compiling or completing an Application.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part I - ADMINISTRATION › Section 67-21.0035 - Applicant Administrative Appeal Procedures (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority
						420.507,
						420.508 FS. Law Implemented
						120.569(2)(b),
						120.57,
						420.502,
						420.507,
						420.508
						FS.
New 11-14-99, Amended 2-11-01, 3-17-02, 10-8-02, 12-4-02,
						4-6-03, 3-21-04, 2-7-05, 1-29-06, 4-1-07, Repromulgated 3-30-08, 8-6-09,
						11-7-11, Repealed 7-16-13.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.004 - Federal Set-Aside Requirements for MMRB Loans

Current through Reg. 50, No. 138; July 16, 2024
Each Application shall designate one of the following
					 minimum federal set-aside requirements that the Development shall meet
					 commencing with the first day on which at least 10 percent of the units in the
					 property are occupied:
(1) Twenty
				  percent of the residential units in the Development shall be occupied by or
				  reserved for occupancy by a Family whose Annual Household Income does not
				  exceed 50 percent of the area median income limits adjusted for Family size
				  (the 20/50 set-aside), or
(2) Forty
				  percent of the residential units in the Development shall be occupied by or
				  reserved for occupancy by a Family whose Annual Household Income does not
				  exceed 60 percent of the area median income limits adjusted for Family size
				  (the 40/60 set-aside).
(3) For
				  Developments financed solely through the issuance of Taxable Bonds or
				  refundings of Tax-exempt Bonds originally issued under section
				  103(b)(4)(A) of
				  the Internal Revenue Code of 1954, as amended, 20 percent of the residential
				  units in the Development shall be occupied by or reserved for occupancy by a
				  Family whose Annual Household Income does not exceed 80 percent of the area
				  median income limits adjusted for Family size (the 20/80
				  set-aside).
Rulemaking Authority
						420.507,
						420.508 FS. Law Implemented
						420.502,
						420.507,
						420.508,
						420.509
						FS.
New 12-3-86, Amended 2-22-89, 12-4-90, 11-23-94, 9-25-96,
						2-6-97, 1-7-98, Formerly 9I-21.004, Amended 1-26-99, 11-14-99, 2-11-01,
						3-17-02, Repromulgated 4-6-03, 3-21-04, Amended 2-7-05, 1-29-06, Repromulgated
						4-1-07, 3-30-08, 8-6-09, Amended 11-7-11, 7-16-13, 2-2-15, Repromulgated
						9-15-16, 5-24-17, 7-8-18, 7-11-19, 6-23-20, 5-18-21, 7-6-22,
						6-28-23.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.0041 - Public Policy Criteria Requirements and Qualified Resident Programs (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority
						420.507(12),
						420.508(3)(a)
						FS. Law Implemented 420.502,
						420.507(4), (6), (12), (13), (14), (18), (19),
						(21),
						420.508
						FS.
New 2-11-01, Amended 3-17-02, 4-6-03, 3-21-04, Repealed
						2-7-05.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.0045 - Determination of Method of Bond Sale

Current through Reg. 50, No. 138; July 16, 2024
(1)
				  The Corporation may sell Bonds for the purpose of financing a proposed
				  Development through a negotiated sale, competitively bid sale or Private
				  Placement. Prior to a competitively bid sale, the Board of Directors shall
				  authorize a resolution specifying the method of sale.
(2) Following receipt of the Credit
				  Underwriting Report, staff shall provide the Corporation's IRMA copies of such
				  report for review and preparation of a written recommendation for the method of
				  Bond sale.
(3) In preparing a
				  recommendation for the method of sale to the Board of Directors, the IRMA shall
				  consider the following:
(a) The anticipated
				  credit and security structure of the transaction;
(b) The proposed financing structure of the
				  transaction;
(c) The Corporation's
				  programmatic objectives; and,
(d)
				  Other factors identified by staff, counsel, or the
				  Applicant.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.005 - Selection of Qualified Lending Institutions as Credit Underwriters, Originators or Services (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority
						420.507(12),
						420.508(3)(a)
						FS. Law Implemented 420.502,
						420.507(20),
						420.507(4), (6), (13), (18), (19), (20),
						(21),
						420.508
						FS.
New 12-3-86, Amended 9-25-96, 1-7-98, Formerly 9I-21.005,
						Amended 1-26-99, 11-14-99, 2-11-01, 3-17-02, 4-6-03, 3-21-04, Repealed
						2-7-05.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.009 - Interest Rate on Mortgage Loans

Current through Reg. 50, No. 138; July 16, 2024
The Corporation shall establish the interest rate on
					 Mortgage Loans at the time of sale of the Bonds. The interest rate shall in no
					 event exceed the arbitrage limit which is legally allowed without jeopardizing
					 the tax exempt status of the Bonds, if Bonds are issued as Tax-exempt
					 Bonds.
Rulemaking Authority
						420.507,
						420.508 FS. Law Implemented
						Chapter 75, 420.507,
						420.508,
						420.509
						FS.
New 12-3-86, Amended 1-7-98, Formerly 9I-21.009, Amended
						1-26-99, 11-14-99, Repromulgated 2-11-01, 3-17-02, 4-6-03, 3-21-04, 2-7-05,
						1-29-06, 4-1-07, 3-30-08, 8-6-09, 11-7-11, 7-16-13, 2-2-15, 9-15-16, 5-24-17,
						7-8-18, 7-11-19, 6-23-20, 5-18-21, 7-6-22,
						6-28-23.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.010 - Issuance of Revenue Bonds

Current through Reg. 50, No. 138; July 16, 2024
The Corporation shall fund Mortgage Loans with the proceeds
					 from the sale of Bonds. The issuance and sale of the Bonds shall be governed by
					 resolutions adopted by the Corporation and by Section
					 420.509, F.S., and this rule
					 chapter. If Bonds cannot be sold or cannot be sold in an amount or at an
					 interest rate or under conditions which satisfy the Credit Underwriting Report,
					 as the same may be amended, the Corporation shall terminate its MMRB Loan
					 Commitment and such other agreements as were executed in conjunction with the
					 proposed MMRB Loan.
Rulemaking Authority
						420.507,
						420.508 FS. Law Implemented
						420.507(6),
						420.508,
						420.509
						FS.
New 12-3-86, Amended 1-7-98, Formerly 9I-21.010, Amended
						1-26-99, 11-14-99, 2-11-01, 3-17-02, Repromulgated 4-6-03, 3-21-04, Amended
						2-7-05, Repromulgated 1-29-06, 4-1-07, 3-30-08, 8-6-09, 11-7-11, 7-16-13,
						Amended 2-2-15, Repromulgated 9-15-16, 5-24-17, 7-8-18, 7-11-19, 6-23-20,
						5-18-21, 7-6-22, 6-28-23.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.011 - No Discrimination (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority
						420.507(12),
						420.508(3)(c)
						FS. Law Implemented 420.502,
						420.507(14)
						FS.
New 12-3-86, Amended 2-22-89, 12-4-90, 1-7-98, Formerly
						9I-21.011, Amended 1-26-99, 11-14-99, 2-11-01, 3-17-02, 4-6-03, 3-21-04,
						Repealed 2-7-05.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.012 - Advertisements (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority
						420.507(12),
						420.508(3)(c)
						FS. Law Implemented 420.507(9),
						(14) FS.
New 12-3-86, Amended 1-7-98, Formerly 9I-21.012, Amended
						1-26-99, 11-14-99, 2-11-01, 3-17-02, 4-6-03, 3-21-04, Repealed
						2-7-05.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.013 - Non-Credit Enhanced Multifamily Mortgage Revenue Bonds

Current through Reg. 50, No. 138; July 16, 2024
Unless otherwise set forth in a competitive solicitation,
					 any issuance of non-Credit Enhanced revenue Bonds shall be sold only to a
					 Qualified Institutional Buyer or a Freddie Mac Multifamily Targeted Affordable
					 Housing Lender. The Corporation shall engage the Investment Banker with respect
					 to such Bonds. The Corporation, in its discretion, will allow only one of
					 either an underwriting discount or a placement agent fee, but not both. Unless
					 such Bonds are rated in one of the four highest rating categories by a
					 nationally recognized rating service and are the subject of a Credit
					 Enhancement instrument, such Bonds shall comply with at least one of the
					 following criteria:
(1) The Bonds
				  shall be issued in minimum denominations of $100, 000 (subject to reduction by
				  means of redemption) and an investment letter satisfactory to the Corporation
				  and its counsel shall be obtained from each initial purchaser of the Bonds
				  (including the underwriter and any purchaser purchasing the Bonds in an
				  immediate resale from an underwriter), and all subsequent purchasers of the
				  Bonds, or
(2) The Bonds shall be
				  issued in minimum denominations of $250, 000 (subject to reduction by means of
				  redemption) and an investment letter satisfactory to the Corporation and its
				  counsel shall be obtained from each initial purchaser of the Bonds (including
				  the underwriter and any purchaser purchasing the Bonds in an immediate resale
				  from an underwriter), but an investment letter shall not be required of
				  subsequent purchasers of the Bonds. Any investment letter shall state, among
				  other things, that such purchaser is a Qualified Institutional Buyer or a
				  Freddie Mac Multifamily Targeted Affordable Housing Lender, is purchasing such
				  Bonds for its own account and not for immediate resale to a purchaser other
				  than a Qualified Institutional Buyer or a Freddie Mac Multifamily Targeted
				  Affordable Housing Lender, and has made an independent investment decision as a
				  sophisticated or institutional investor.
Rulemaking Authority
						420.507,
						420.508 FS. Law Implemented
						420.507(4), (5), (6), (9), (11), (14), (16),
						(18), (19), (20), (21),
						420.509
						FS.
New 11-23-94, Amended 1-7-98, Formerly 9I-21.013, Amended
						1-26-99, 11-14-99, 2-11-01, 3-17-02, 4-6-03, 3-21-04, 2-7-05, Repromulgated
						1-29-06, 4-1-07, 3-30-08, 8-6-09, 11-7-11, 7-16-13, Amended 2-2-15, 9-15-16,
						5-24-17, 7-8-18, Repromulgated 7-11-19, 6-23-20, Amended 5-18-21, 7-6-22,
						Repromulgated 6-28-23.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.015 - Use of Bonds with Other Affordable Housing Finance Programs

Current through Reg. 50, No. 138; July 16, 2024
(1) Applicants may submit one Application for
				  the MMRB Program and Non-Competitive Housing Credits, subject to the
				  restrictions set forth in the Non-Competitive Application Package.
(2) Applicants that receive funding from
				  other programs and the Multifamily Mortgage Revenue Bond Program shall comply
				  with the requirements of the applicable program rule, a competitive
				  solicitation, and this rule.
Rulemaking Authority
						420.507,
						420.508 FS. Law Implemented
						420.507,
						420.508,
						420.509
						FS.
New 1-7-98, Formerly 9I-21.015, Amended 1-26-99,
						11-14-99, 2-11-01, 3-17-02, Repromulgated 4-6-03, 3-21-04, Amended 2-7-05,
						Repromulgated 1-29-06, 4-1-07, 3-30-08, 8-6-09, 11-7-11, Amended 7-16-13,
						2-2-15, Repromulgated 9-15-16, 5-24-17, 7-8-18, 7-11-19, 6-23-20, Repromulgated
						5-18-21, 7-6-22, 6-28-23.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.016 - Compliance Procedures (Transferred)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority
						420.507(12),
						420.508(3)(a)
						FS. Law Implemented 420.507(4), (13),
						(14),
						420.508,
						420.509
						FS.
New 1-7-98, Formerly 9I-21.016, Amended 1-26-99,
						11-14-99, 2-11-01, 3-17-02, 4-6-03, 3-21-04, Transferred to
						67-53.003.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.018 - Refundings and Troubled Development Review

Current through Reg. 50, No. 138; July 16, 2024
(1) Refunding of previously issued Bonds
				  shall in all instances be at the option of the Corporation and not an
				  obligation of the Corporation.
(2)
				  The Corporation shall endeavor where feasible to refund Bonds which are either
				  in default or face a pending default.
(3) Approval by the Corporation for a
				  refunding of an issue of Bonds for reasons related to pending default shall be
				  subject to the following:
(a) Determination of
				  the likelihood of the impending default;
(b) Submission of a sworn certificate of
				  impending default by the owner or Credit Enhancer;
(c) Submission of sworn certificate from the
				  owner or Credit Enhancer that conditions causing default are likely to
				  continue;
(d) Submission of
				  certified information from a certified public accountant concerning cash
				  contributions to the Development, financial condition of the Development,
				  including analysis of tax benefits derived from Development losses, and the
				  financial condition of the owner or Credit Enhancer;
(e) Independent evidence of market conditions
				  in the Development location;
(f)
				  Evidence of effort by the owner or Credit Enhancer to procure other sources of
				  capital infusion;
(g) Statement by
				  the owner or Credit Enhancer of the continued public purpose to be achieved by
				  refunding;
(h) Agreement by the
				  owner or Credit Enhancer to update the MMRB Land Use Restriction Agreement,
				  including retention of state and federal income limits;
(i) New Credit Underwriting by the
				  Corporation, with new Bond amount determined by the Corporation based upon real
				  estate underwriting criteria and equal to the lesser of the amount determined
				  by the Corporation or the Credit Enhancer, to provide assurance that a similar
				  default condition will not present itself in the future;
(j) The full risk of refunding is taken by
				  the Credit Enhancer through full indemnification of the Corporation; with
				  consideration given to personal indemnification from the owner if sufficient
				  financial strength can be demonstrated;
(k) All costs of refunding are paid by the
				  owner or the Credit Enhancer outside of Bond proceeds, including all applicable
				  fees;
(l) Retention of annual fees
				  by the Corporation;
(m) Provision
				  of other evidence of the immediacy of default;
(n) Retention of the Credit Enhancement, or
				  an acceptable non-Credit Enhancement structure; and,
(o) Management of the Development is reviewed
				  and approved by the Corporation.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part II - MULTIFAMILY MORTGAGE REVENUE BOND PROGRAM › Section 67-21.019 - Issuance of Bonds for Section 501(c)(3) Entities

Current through Reg. 50, No. 138; July 16, 2024
(1) The Corporation shall entertain requests,
				  on a non-competitive basis, for it to serve as the issuer of Tax-exempt
				  501(c)(3) Bonds for the acquisition or construction of multifamily housing to
				  be owned by a not-for-profit entity organized under section
				  501(c)(3) of the
				  Internal Revenue Code.
(2) In
				  connection with all Bonds issued pursuant to this section, Applicants shall be
				  required to comply with the applicable provisions of Rules
				  67-21.0045 through
				  67-21.018, F.A.C.; Florida
				  Statutes; and the Internal Revenue Code, including all safe harbor
				  provisions.
(3) In addition,
				  Applicant shall submit the following:
(a) An
				  initial Bond Counsel fee of $1, 000 along with IRS Form 1023, and all
				  attachments and correspondence to and from the IRS relative to section
				  501(c)(3) status of the Applicant; and,
(b) An opinion from Applicant's counsel at
				  Applicant's sole expense evidencing the Applicant's qualifications as a section
				  501(c)(3) entity and Applicant's authority to incur bond debt for multifamily
				  housing; and,
(c) If a Development
				  to be acquired is intended to be exempt from ad valorem taxes, evidence that it
				  has notified all local ad valorem taxing authorities of the acquisition of the
				  proposed Development by a section 501(c)(3) entity.
(d) The completed Non-Competitive Application
				  in effect at the time the Applicant submits the Application. Applicants must
				  meet all threshold requirements of the
				  Application.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part III - HOUSING CREDIT PROGRAM › Section 67-21.025 - HC Fees

Current through Reg. 50, No. 138; July 16, 2024
The Corporation and the Credit Underwriter shall collect
					 via check or money order the following non-refundable fees and charges in
					 conjunction with the HC Program, as outlined in the Non-Competitive Application
					 instructions, a competitive solicitation, the invitation to enter Credit
					 Underwriting, the Preliminary Determination, or this rule chapter, as
					 applicable:
(1) Application
				  fee.
(2) Credit Underwriting
				  fees.
(3) Administrative
				  fees.
(4) Compliance monitoring
				  fees.
(5) Construction inspection
				  fees.
(6) Qualified Contract
				  Package fees.
(7) Processing
				  fees.
Failure to pay any fee associated with a Housing Credit
					 Allocation shall cause the Housing Credit Allocation to be rescinded. Where a
					 Development has been awarded funding under the MMRB Program and a Housing
					 Credit Allocation, failure to pay any fee associated with either the MMRB or
					 Housing Credits, or both, shall result in the termination or default, as
					 applicable, of the MMRB and rescission of the Housing Credit
					 Allocation.
Rulemaking Authority
						420.507,
						420.508 FS. Law Implemented
						420.5099
						FS.
New 7-16-13, Amended 2-2-15, 9-15-16, Repromulgated
						5-24-17, 7-8-18, 7-11-19, 6-23-20, 5-18-21, 7-6-22,
						6-28-23.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part III - HOUSING CREDIT PROGRAM › Section 67-21.028 - HC with Tax-Exempt Bond-Financed Developments

Current through Reg. 50, No. 138; July 16, 2024
(1) Tax-Exempt Bond-Financed Developments
				  which applied for Non-Competitive Housing Credits when also applying for MMRB
				  from the Corporation shall:
(a) Have 50
				  percent or more of the aggregate basis of any building and the land on which
				  the building is located financed by Tax-exempt Bonds;
(b) Be subject to the monitoring and credit
				  underwriting fees as stated in this rule chapter; however, when the regulatory
				  period for the Tax-exempt Bonds terminates prior to the expiration of the
				  Housing Credit Extended Use Period, a separate compliance monitoring fee is
				  required for the remainder of the Housing Credit Extended Use Period;
(c) If applying utilizing the Non-Competitive
				  Application Package, be deemed to have met all HC Program scoring threshold
				  requirements prior to issuance of an invitation to enter Credit Underwriting,
				  or if applying under a competitive solicitation, meet all requirements of the
				  competitive solicitation and be successfully selected for award through final
				  Board action;
(d) Receive a
				  Preliminary Determination upon the Corporation's issuance of a loan commitment
				  in reference to the Tax-exempt Bonds;
(e) Be subject to the provisions of this rule
				  chapter. If the MMRB and Non-Competitive Housing Credits are awarded as a
				  result of a competitive solicitation, the Development shall also be subject to
				  the provisions of such competitive solicitation;
(f) Receive Building Identification Numbers
				  from the Corporation upon satisfying the requirements of this section and the
				  Final Cost Certification Application Package requirements of Rule
				  67-21.027, F.A.C.;
(g) If requested by the Corporation, provide
				  an IRS Form 8821 for each Financial Beneficiary of the Development prior to
				  Final Housing Credit Allocation; and,
(h) Pay the assigned Credit Underwriter for a
				  comprehensive market study of the housing needs of Low Income individuals in
				  the area to be served by the Development. The market study must be completed by
				  a disinterested third party and a copy of the completed market study must be on
				  file with the Corporation prior to the Final Housing Credit
				  Allocation.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part III - HOUSING CREDIT PROGRAM › Section 67-21.029 - HC Extended Use Agreement

Current through Reg. 50, No. 138; July 16, 2024
(1) Pursuant to
				  Section 42(h)(6) of the
				  IRC, the Applicant and the Corporation shall enter into an Extended Use
				  Agreement. The purpose of the Extended Use Agreement is to set forth the
				  Housing Credit Extended Use Period, the Compliance Period, and to evidence
				  commitments made by the Applicant in the Application or subsequently agreed to
				  by the Corporation.
(2) The
				  following provisions shall be included in the Extended Use Agreement:
(a) The Applicable Fraction for Housing
				  Credit Set-Aside units for each taxable year in the Housing Credit Extended Use
				  Period shall not be less than the Applicable Fraction;
(b) Eligible Persons occupying set-aside
				  units shall have the right to enforce in any state of Florida court the
				  extended use requirement for set-aside units;
(c) The Extended Use Agreement shall be
				  binding on all successors and assigns of the Applicant; and,
(d) The Extended Use Agreement shall be
				  executed prior to the issuance of a Final Housing Credit Allocation to an
				  Applicant. Following execution, the Extended Use Agreement shall be recorded
				  pursuant to Florida law as a restrictive
				  covenant.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-21 - NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC) › Part III - HOUSING CREDIT PROGRAM › Section 67-21.030 - Sale or Transfer of a Housing Credit Development

Current through Reg. 50, No. 138; July 16, 2024
An owner of a Housing Credit Development, its successor or
					 assigns which has been granted a Final Housing Credit Allocation shall not sell
					 the Housing Credit Development without having first notified the Treasury of
					 the impending sale and complying with the Treasury's procedure or procedures
					 for completing the transfer of ownership and utilizing the Housing Credit
					 Allocation. The owner of a Housing Credit Development shall notify the
					 Corporation in writing of an impending sale and of compliance with any
					 requirements by the Treasury for the transfer of the Housing Credit
					 Development. The proposed transferee agrees to maintain all set-asides and
					 other requirements of the Extended Use Agreement for the period originally
					 specified; pay any and all unpaid compliance monitoring fees through the end of
					 the Extended Use Agreement; and execute any assignment and assumption documents
					 the Corporation deems necessary to effectuate the ownership change. For those
					 Developments that have not waived the right to submit a qualified contract, any
					 transfer of that Development will require the transferee to agree to a waiver
					 of the right to submit a qualified contract before approval of the transfer
					 will be provided by the Corporation. All requests which only require
					 subordination of the regulatory agreements must be submitted in writing to the
					 Special Assets Director and contain the specific details of the subordination.
					 In addition to any related professional fees, the Corporation shall charge a
					 non-refundable subordination fee of $1, 000 for each regulatory agreement to be
					 subordinated. The applicable fee will be determined by the rule in effect at
					 the time of the subordination request.
Rulemaking Authority
						420.507,
						420.508 FS. Law Implemented
						420.5099
						FS.
New 7-16-13, Repromulgated 2-2-15, 9-15-16, 5-24-17,
						Amended 7-8-18, 7-11-19, Repromulgated 6-23-20, 5-18-21, Amended 7-6-22,
						Repromulgated 6-28-23.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-25 - SINGLE-FAMILY MORTGAGE REVENUE BONDS PROGRAM › Section 67-25.003 - Issuance of Revenue Bonds

Current through Reg. 50, No. 138; July 16, 2024
(1) The
				Corporation will fund the programs with the proceeds from the sale of revenue
				bonds. The issuance and sale of the bonds will be governed by resolutions
				adopted by the Corporation and applicable Florida law.
(2) If bonds cannot be sold or cannot be sold
				in an amount, at an interest rate or under conditions which the Corporation and
				the Division of Bond Finance for the State of Florida determine are in the best
				interest of the public and the particular bond program, the Corporation shall
				terminate the proposed bond issuance.
Rulemaking Authority
					 420.507(12) FS.
					 Law Implemented 420.502,
					 420.507,
					 420.508,
					 420.509,
					 420.51,
					 215.68,
					 215.84
					 FS.
New 4-15-87, Formerly
					 9I-25.003.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-25 - SINGLE-FAMILY MORTGAGE REVENUE BONDS PROGRAM › Section 67-25.004 - Security for Repayment of Bonds

Current through Reg. 50, No. 138; July 16, 2024
The Corporation shall require that the bonds issued under a
				  bond program be guaranteed, collateralized, insured or otherwise secured to the
				  extent necessary to protect the Corporation and bondholders.
Rulemaking Authority
					 420.507(12) FS.
					 Law Implemented 420.503,
					 420.508
					 FS.
New 4-15-87, Formerly
					 9I-25.004.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-25 - SINGLE-FAMILY MORTGAGE REVENUE BONDS PROGRAM › Section 67-25.005 - Notice of Program and Invitation and Application to Participate

Current through Reg. 50, No. 138; July 16, 2024
(1) The Corporation shall publish a notice in
				the Florida Administrative Register announcing its intention to provide funding
				for Qualified Mortgage Loans and inviting Qualified Lending Institutions to
				submit the Invitation and Application to Participate to the Corporation within
				the time frame designated by the Corporation under a specific bond issue. The
				Invitation and Application to Participate submitted by the Qualified Lending
				Institution shall indicate to the Corporation the amount of Qualified Mortgage
				Loans the Qualified Lending Institution anticipates originating for each type
				of qualified mortgage loan permitted under the program, unless funding is being
				offered by the Corporation on a first-come, first-served basis in which case
				lenders will not be required to specify an allocation amount.
(2) The Corporation shall establish a minimum
				allocation amount for participation in a program or make funds available on a
				first-come, first-served basis based upon the amount of the bond issue, prior
				origination history and current market conditions. The Invitation and
				Application to Participate shall be accompanied by a statement from the
				Qualified Lending Institution indicating its experience in originating the
				Qualified Mortgage Loans in categories and areas requested, indicating the
				current financial condition of the Qualified Lending Institution and the
				location of the office or offices that will be originating Qualified Mortgage
				Loans.
Rulemaking Authority
					 420.507(12) FS.
					 Law Implemented 420.502,
					 420.507,
					 420.508
					 FS.
New 4-15-87, Formerly 9I-25.005, Amended
					 12-16-03.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-25 - SINGLE-FAMILY MORTGAGE REVENUE BONDS PROGRAM › Section 67-25.006 - Program Documents

Current through Reg. 50, No. 138; July 16, 2024
(1) The following
				documents are required for the marketing of the bonds:
(a) Trust indenture;
(b) Program administration and mortgage
				servicing agreement; and,
(c)
				Preliminary and final official statements.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-25 - SINGLE-FAMILY MORTGAGE REVENUE BONDS PROGRAM › Section 67-25.007 - Allocation of Proceeds

Current through Reg. 50, No. 138; July 16, 2024
(1) The Corporation
				shall determine if funds will be made available statewide for Qualified Lending
				Institutions on a first-come, first-served basis or via allocations to
				Qualified Lending Institutions based upon the amount of the bond issue, prior
				origination history and current market conditions. In the event that the
				Corporation does not make funds available on a first-come, first-served basis,
				the Corporation shall review all Invitations and Applications to Participate
				and designate those qualified lending institutions that shall receive
				allocations of the bond proceeds for purchasing Qualified Mortgage Loans and
				the amount of allocation that each institution will be allocated. Participating
				Lenders will be notified of their acceptance via the Notice of
				Acceptance.
(2) In determining the
				allocations the Corporation shall consider:
(a) The ability of the Qualified Lending
				Institution to originate, process and service program loans.
(b) The location of the Qualified Lending
				Institution.
(c) The financial
				stability, origination and servicing experience of the Qualified Lending
				Institution.
(d) The overall
				origination history of the Qualified Lending Institution.
(e) The origination history of the Qualified
				Lending Institution under Corporation programs.
(f) The availability of decent, safe and
				sanitary housing to persons or families of low, moderate, or middle income in
				the geographic area for which the funds have been requested.
(g) The availability, cost and stability of a
				supply of adequate funds for housing financing in the areas and categories for
				which funds have been requested.
(h) The effect of the allocation on the
				marketability of the funds.
(i) The
				requirements of state and federal law regarding the use of the
				proceeds.
(j) The effect of the
				allocation on creating a stable and viable source of funding for housing
				financed throughout the state of Florida.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-25 - SINGLE-FAMILY MORTGAGE REVENUE BONDS PROGRAM › Section 67-25.008 - Program Fees

Current through Reg. 50, No. 138; July 16, 2024
(1) The Corporation
				shall charge up to 7% of the qualified mortgage loan amount as program fees.
				Program fees will be established prior to the sale of the bonds based on the
				size of the bond issue, market conditions and the best interest of the
				public.
(2) The Corporation shall
				also charge a commitment fee in the amount of 1% of the aggregate amount of the
				allocation received by the participant at the time of allocation of the
				proceeds. If funds are made available on a first-come, first-served basis, the
				Corporation shall not charge a commitment fee. This commitment fee may be
				recouped by the participant upon the origination and closing of loans under the
				program by charging a loan origination fee to the eligible
				borrowers.
Rulemaking Authority
					 420.507(4),
					 (12) FS. Law Implemented
					 420.507,
					 420.508
					 FS.
New 4-15-87, Formerly 9I-25.008, Amended
					 12-16-03.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-25 - SINGLE-FAMILY MORTGAGE REVENUE BONDS PROGRAM › Section 67-25.009 - Commitment and Origination Periods

Current through Reg. 50, No. 138; July 16, 2024
(1)
				The Corporation shall determine the length of the commitment period for its
				bond programs based on the size of the bond issue, market conditions and the
				best interest of the public. For purposes of this rule, commitment period shall
				mean the period during which participants may make loan commitments to eligible
				borrowers. At the end of such commitment period, the Corporation shall forfeit
				any remaining allocation of a participant which has failed to make commitments
				up to the amount of its allocation if it determines that it is in the best
				interest of the program and the public interest and shall make the remaining
				funds accessible to all Participating Lenders statewide on a first-come,
				first-served basis.
(2) The
				Corporation shall determine the length of the origination period for its bond
				programs based on federal requirements as outlined in Internal Revenue Code,
				Section 143, hereby incorporated by reference, the size of the bond issue,
				market conditions and the best interest of the public. A copy of the Internal
				Revenue Code, Section 143, may be obtained by contacting the Single Family
				Bonds Program Administrator at 227 North Bronough Street, Suite 5000,
				Tallahassee, FL 32301-1329. For purposes of this rule, origination period shall
				mean the period during which participants may originate Qualified Mortgage
				Loans under a bond program.
Rulemaking Authority
					 420.507(12) FS.
					 Law Implemented 420.507,
					 420.508
					 FS.
New 4-15-87, Formerly 9I-25.009, Amended
					 12-16-03.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-25 - SINGLE-FAMILY MORTGAGE REVENUE BONDS PROGRAM › Section 67-25.011 - Loan Processing

Current through Reg. 50, No. 138; July 16, 2024
Proceeds from tax-exempt bonds may not be used to issue MCC
				  and is prohibited from use with a mortgage loan financed through the Single
				  Family Bond Program. All applications for and all Qualified Mortgage Loans are
				  processed by the Participating Lenders in accordance with the Participating
				  Lenders' standard underwriting criteria and additional criteria which may be
				  imposed by FHA, VA, FannieMae, Freddie Mac, RD or other parties insuring and
				  guaranteeing the Qualified Mortgage Loans. All closed Qualified Mortgage Loans
				  shall be presented to the trustee or to the Qualified Lending Institution
				  issuing obligations secured by the Qualified Mortgage Loans for purchase of the
				  Qualified Mortgage Loans or obligations pursuant to the program
				  documents.
Rulemaking Authority
					 420.507(12) FS.
					 Law Implemented 420.507,
					 420.508
					 FS.
New 4-15-87, Formerly 9I-25.011, Amended 12-16-03,
					 2-2-05.
Florida Administrative Code › 67 - FLORIDA HOUSING FINANCE CORPORATION › 67 - Departmental › Chapter 67-25 - SINGLE-FAMILY MORTGAGE REVENUE BONDS PROGRAM › Section 67-25.012 - Eligible Persons

Current through Reg. 50, No. 138; July 16, 2024
In determining the maximum annual family income of eligible
				  persons under a single-family bond program, the Corporation shall take into
				  consideration the following:
(1) The
				amount of total income and assets which are available for housing needs of such
				persons or families. The income to be taken into account in determining the
				gross monthly income is the income of the mortgagor (or mortgagors) and any
				other person who is expected to principally and permanently reside in the
				residence being financed;
(2) The
				size of the family;
(3) The cost
				and condition of available housing facilities;
(4) The ability of such persons or families
				to compete successfully in the normal private housing market and to pay the
				amounts at which private enterprise is providing decent, safe and sanitary
				housing; and,
(5) The standards
				established for various federal programs determining eligibility based on
				income of such persons or families.
Rulemaking Authority
					 420.507(12) FS.
					 Law Implemented 420.502,
					 420.507(14),
					 420.507(21)
					 FS.
New 4-15-87, Formerly 9I-25.012, Amended
					 12-16-03.