29401590, 67-21.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 29401590

Notice of Development of Rulemaking

Department:

FLORIDA HOUSING FINANCE CORPORATION

Chapter:

NON-COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS (MMRB/HC)

Overview

RULE:

67-21.001	Purpose and Intent
67-21.002	Definitions
67-21.0025	Miscellaneous Criteria
67-21.003	Application and Selection Process for Developments
67-21.004	Federal Set-Aside Requirements for MMRB Loans
67-21.0045	Determination of Method of Bond Sale
67-21.006	MMRB Development Requirements
67-21.007	MMRB Fees
67-21.008	Terms and Conditions of MMRB Loans
67-21.009	Interest Rate on Mortgage Loans
67-21.010	Issuance of Revenue Bonds
67-21.013	Non-Credit Enhanced Multifamily Mortgage Revenue Bonds
67-21.014	MMRB Credit Underwriting Procedures
67-21.015	Use of Bonds with Other Affordable Housing Finance Programs
67-21.017	Transfer of Ownership of a MMRB Development
67-21.018	Refundings and Troubled Development Review
67-21.019	Issuance of Bonds for Section 501(c)(3) Entities
67-21.025	HC Fees
67-21.026	HC Credit Underwriting Procedures
67-21.027	HC General Program Procedures and Requirements
67-21.028	HC with Tax-Exempt Bond-Financed Developments
67-21.029	HC Extended Use Agreement
67-21.030	Sale or Transfer of a Housing Credit Development
67-21.031	Qualified Contracts

PURPOSE:

The purpose of this rule chapter is to establish the procedures by which the Corporation shall (1) determine loan amounts, make and service mortgage loans for new construction or rehabilitation of affordable rental units under the Multifamily Mortgage Revenue Bond (MMRB) Program authorized by Section 142 of the Code and Section 420.509, F.S., and (2) administer the Application process, determine Non-Competitive Housing Credit amounts and implement the provisions of the Non-Competitive Housing Credit process authorized by Section 42 of the Code and Section 420.5099, Florida Statutes.

SUBJECT:

The rule development workshop will be held to receive comments and suggestions from interested persons relative to (1) the development of the Non-Competitive Application and the program requirements for MMRB and Non-Competitive Housing Credits, as specified in Rule Chapter 67-21, Florida Administrative Code (F.A.C.), and (2) amendments to the Florida Housing Finance Corporation’s 2025 Qualified Allocation Plan (QAP).

RULEMAKING AUTHORITY:

420.507(12), (44), 420.508(3)(c), FS.

LAW:

420.502, 420.503, 420.503(4), 420.507, 420.507(4), (5), (6), (9), (11), (13), (14), (16), (18), (19), (20), (21), (24), (35), 420.508, 420.508(3), 420.509, 420.507, 420.507(13), (22), (24), (48), 420.5087, 420.5089, 420.5089(1), (2), (4), (5), (7), (8), (9), 420.5099, 420.5099(7), FS.

PRINT PUBLISH DATE:

3/25/2025 Vol. 51/58

RELATED STATUTES
AND LAWS:

420.507(12), (44), 420.508(3)(c), FS., 420.502, 420.503, 420.503(4), 420.507, 420.507(4), (5), (6), (9), (11), (13), (14), (16), (18), (19), (20), (21), (24), (35), 420.508, 420.508(3), 420.509, 420.507, 420.507(13), (22), (24), (48), 420.5087, 420.5089, 420.5089(1), (2), (4), (5), (7), (8), (9), 420.5099, 420.5099(7), FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=67-21.001&PDate=3/25/2025&Section=1

REFERENCE MATERIALS:

No reference(s).

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