28500848, 67-60.010 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 28500848

Notice of Proposed Rule

Department:

FLORIDA HOUSING FINANCE CORPORATION

Chapter:

Competitive Solicitation Funding Process

Overview

RULE:

67-60.010

Funding Preferences

PURPOSE:

The purpose of this Rule Chapter is to establish the procedures by which the Corporation shall:

(1) Administer the competitive solicitation funding process to make and service mortgage loans for new construction or rehabilitation of affordable rental units under the State Apartment Incentive Loan (SAIL) Program authorized by Section 420.5087, F.S., and the HOME Investment Partnerships (HOME) Program authorized by Section 420.5089, F.S.; (2) Administer the competitive solicitation processes to implement the provisions of the Housing Credit (HC) Program authorized by Section 42 of the IRC and Section 420.5099, F.S.; and
(3) Unless otherwise provided in the competitive solicitation, administer the competitive solicitation funding process for any other Corporation program.

The intent of this Rule Chapter is to encourage public-private partnerships to invest in residential housing; to stimulate the construction and rehabilitation of residential housing which in turn will stimulate the job market in the construction and related industries; and to increase and improve the supply of affordable housing in the state of Florida.

SUMMARY:

The proposed Rule creates a formulated process for administering the competitive solicitation funding process for the Corporation’s programs.

RULEMAKING AUTHORITY:

420.507(12) FS.

LAW:

420.507(47), (48), (49), 420.5087, 420.5089(2), 420.5099 FS.

PRINT PUBLISH DATE:

7/1/2024 Vol. 50/128

COMMENTS:

From 7/1/2024 To 7/22/2024 (21 Days)

REFERENCE MATERIALS:

No reference(s).

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