9B-76.001: Administration.
PURPOSE AND EFFECT: To incorporate administrative rules for the State of Florida’s Neighborhood Stabilization Program (NSP) in order to enable the Department of Community Affairs to award and administer Neighborhood Stabilization Program (NSP) funds in accordance with the provisions of Title III of Division B of the Housing and Economic Recovery Act of 2008 (HERA), federal Public Law 110-289.
A rule development workshop was held on April 17, 2009, for which the notice referenced Rule 9B-43.0072, F.A.C. That rule has now been renumbered as 9B-76.001 in order to create a separate chapter for the NSP.
SUMMARY: Chapter 9B-76, F.A.C., has been established in order to provide administrative guidance and oversight for the State of Florida Neighborhood Stabilization Program (NSP). This rule is only applicable to the jurisdictions funded under the State’s Program for the purpose of carrying out NSP related activities in accordance with Public Law 110-289.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: Chapter 2009-01, Laws of Florida.
LAW IMPLEMENTED: Chapter 2009-01, Laws of Florida.
A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
DATE AND TIME: July 22, 2009, 2:00 p.m. – 5:00 p.m.
PLACE: Randall Kelly Training Center, Room 305, 2555 Shumard Oak Boulevard, Tallahassee, Florida 32399
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 7 days before the workshop/meeting by contacting: Pat Harvey, Department of Community Affairs at (850)487-3644. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Jacquelyn Dupree, Program Administrator, Department of Community Affairs, 2555 Shumard Oak Boulevard, Tallahassee, FL, (850)487-3644, e-mail: jackie.dupree@dca.state.fl.us
THE FULL TEXT OF THE PROPOSED RULE IS:
9B-76.001 Administration.
(1) The objective of this section is to establish administrative procedures for implementing and managing NSP funded projects in accordance with Public Law 110-289 and 24 CFR Part 570. This rule applies to all State-funded NSP grant recipients, whether Urban Entitlement or participants of the Florida Small Cities CDBG Program, located in the following jurisdictions:
Alachua County
Apopka
Bay County
Bradenton
Charlotte County
Citrus County
Clay County
Clearwater
Davie
Daytona Beach
Delray Beach
Ft. Pierce
Hernando County
Indian River County
Martin County
Melbourne
Miami Beach
Ocala
Okaloosa County
Osceola County
Palm Coast
Santa Rosa County
St. Johns County
St. Lucie County
Tallahassee
Titusville
Except as described in the Federal Register Notice (Vol. 73, No. 194), all statutory and regulatory provisions governing the Community Development Block Grant (CDBG) program for states, including 24 CFR part 570 subpart I, for CDBG entitlement communities, including those at 24 CFR part 570 subparts A, C, D, J, K and O, and applicable program guidance, shall apply to the use of these funds. In addition, the following provisions are applicable:
(2) Definitions.
(a) “Activity delivery costs” are non-administrative costs which can be directly associated with and required for an eligible NSP activity and may not exceed 10 percent of the housing construction budget. If paid to the developer, these costs shall be included in the developer’s proposal. Activity delivery costs must be consistent with the guidelines in Technical Memo CDBG-HCD-08-01.
(b) “Affordable rents” is defined as the Fair Market Rents (FMR) as published annually by HUD for the sub-grantees.
(c) “Blighted structure” means a structure that has substantial deterioration in which conditions are leading to economic distress or endangerment of life, the sub-recipient jurisdiction concurs that the structure is blighted, and one or more of the following factors are present:
1. Unsanitary or unsafe conditions;
2. Deterioration of site or other improvement; or
3. Faulty lot layout in relation to size, adequacy, accessibility, or usefulness.
(d) “CATF” means the Citizen Advisory Task Force which the State’s sub-recipient must create in order to provide public participation and comply with citizen participation requirements.
(e) “Current market appraised value” means the value of a foreclosed upon home or residential property that is established through an appraisal made in conformity with the appraisal requirements of the URA at 49 CFR 24.103 and completed within sixty (60) days prior to an offer made for the property by a grantee, sub-recipient, developer, or individual homebuyer.
(f) “Day” means calendar day.
(g) “Developer” means an entity provided NSP funds for purchasing, rehabilitating and disposing of properties that have been abandoned or foreclosed upon including maintaining, assembling, and facilitating the redevelopment of vacant property, and/or marketing, and disposing of land-banked properties.
(h) “Developer Fee” is an amount in addition to activity costs paid to a developer in consideration of the developer’s efforts. This amount is considered “estimated profit.”
(i) “Foreclosed property” has been foreclosed upon at the point that, under state or local law, the mortgage or tax foreclosure is complete. The U.S. Department of Housing and Urban Development (HUD) generally will not consider a foreclosure to be complete until after the title for the property has been transferred from the former homeowner under some type of foreclosure proceeding or transfer in lieu of foreclosure, in accordance with state or local law.
(j) “Land bank” is a governmental or nongovernmental nonprofit entity established, at least in part, to assemble, temporarily manage, and dispose of land for the purpose of stabilizing neighborhoods and encouraging re-use or redevelopment of urban property. For the purposes of the NSP program, a land bank will operate in a specific, defined geographic area. It will purchase properties that have been abandoned or foreclosed upon and maintain, assemble, facilitate redevelopment of, market, and disposal of the land-banked properties. If the land bank is a governmental entity, it may also maintain abandoned or foreclosed property that it does not own, provided it charges the owner of the property the full cost of the service or places a lien on the property for the full cost of the service.
(k) “NSP Target Area” means a geographical area to be served by an NSP activity.
(l) “State Sub-recipient” refers to the unit of general purpose local government that is eligible to receive State NSP funds.
(m) “Sub-recipient” has the same meaning as in the first sentence of 24 CFR 570.500(c). This includes any nonprofit organization or unit of general purpose local government that the state awards NSP funding.
(n) “Subprime loan refers to an industry to describe loans with less stringent lending and underwriting terms and conditions. Due to the higher risk, sub-prime loans charge higher interest rates and fees. For the purposes of NSP, subprime loans are those loans which do not meet conventional underwriting guidelines for prime mortgages.
(o) “Revenue” for the purposes of section 2301(d)(4) of Title III of HERA has the same meaning as program income, as defined at 24 CFR 570.500(a), as amended.
(3) Interlocal Agreements. Housing acquisition and disposition, including homeownership assistance and counseling, will not require an interlocal agreement. NSP State sub-recipients proposing eligible public facility or infrastructure activities within the boundaries of another jurisdiction shall be required to enter into an Interlocal Agreement. Both jurisdictions must be eligible to participate in NSP. The Interlocal Agreement must include the following provisions, or submit documentation of an established relationship between jurisdictions, which includes the following provisions:
(a) Includes as parties all State sub-recipients whose jurisdictions are included in the project and/or target area(s);
(b) Authorizes the State’s sub-recipient to undertake the activities in all jurisdictions included in the interlocal agreement; and
(c) Affirms that all activities are consistent with each sub-recipient’s comprehensive plan and provides documentation which includes applicable excerpts of each sub-recipient’s comprehensive plan in the supporting documentation section of the application.
(4) Expenditures and Limitations.
(a) State sub-recipients must submit at least one request for funds each month.
(b) State sub-recipients may maintain no more than $100,000 cash-on-hand to meet daily cash needs. Amounts greater than $100,000 shall be expended within fourteen (14) days or returned to the Department.
(c) Escrow Accounts. Recipients and/or sub-recipients may draw down NSP funds and deposit them into an interest-bearing escrow account for rehabilitation. The sub-recipient must separately track, for each housing unit, the receipt and disbursement of all escrowed funds, including funds escrowed by a sub-recipient.
1. Funds may be requested only after execution of the contract by the State sub-recipient or their sub-recipients.
2. Escrowed funds must be used in accordance with the escrow agreement. The Department may refuse to disburse funds for escrow accounts if the State’s sub-recipient fails to comply with the terms of prior escrow accounts.
3. Any request for escrow funds shall be accompanied by information identifying the activity and the basis for the amount, i.e., address of the home and the cost for rehabilitation.Escrowed funds must be expended within ten (10) days from date of deposit in the escrow account or be returned to the Department. At the end of a calendar quarter during which escrow funds were received, the State’s sub-recipient shall submit a report identifying the amount and date escrow funds were received, the amount expended during the quarter and escrow balance. If there is a balance at the end of the quarter, and the 10-day period has not expired, a final report shall be submitted within seven days after the 10-day period, along with any unexpended balance and interest.
4. Interest earned on escrow accounts shall be returned quarterly to the Department.
(d) A land bank may not hold property for more than ten years without obligating the property for a specific NSP eligible activity. Under no circumstances may NSP grant funds be used:
1. To pay more than the appraised value of the property, or
2. For activities that displace a tenant/homeowner.
(e) Up to 6.8 percent of the funds allocated to a jurisdiction may be used for administrative costs as specified in 24 CFR 570.206.
(f) Developer Fees are defined under Section (2) Definitions, and the amount paid from NSP funds shall be limited to a maximum of 12 percent of the total project cost. Unless a contract involving developer fees is procured by competitive bids, or no NSP funds are used for developer fees, recipients and sub-recipients shall negotiate fair and reasonable developer fees as required by 24 CFR 85.36 (f) (2), which shall include preparing a cost analysis. Written justification for the developer fee amount, based on a cost analysis and consideration of at least the elements identified in 24 CFR 85.36 (f) (2), shall be part of the procurement documentation.
(g) Architectural and Engineering Costs. The maximum percentage of subgrant funds allowed for architectural and engineering costs shall be based on the subgrant activities which require architectural design and engineering and shall not exceed the Rural Development (RD) Rural Utility Service (RUS) fee schedule (Form RD 1942-19) in Florida RUS Bulletin 1780-9, which can be obtained from the Department, and which is incorporated herein by reference, as effective on 5-23-06.
1. If more than one design professional is needed for an activity or activities the local government shall not exceed the appropriate RD/RUS fee curve for each activity covered by each design professional negotiated separately. For projects involving both Table I and II activities, engineering costs shall be pro-rated appropriately.
2. For each additional engineering service and for preliminary engineering, the local government shall negotiate a reasonable fee for the service following procurement procedures in 24 C.F.R. 85.36, as effective on 5-23-06. Preliminary engineering costs not to exceed one-half of one percent of the estimated construction cost may be paid with NSP funds over and above the amounts included in the RD/RUS fee schedule.
(5) No less than 25 percent of the State’s NSP allocation shall be allocated to assist the NSP Low-Income (NSPLI) target population not exceeding 50 percent of area median income. These supplemental funds must be used to provide rental housing for those individuals and families whose incomes do not exceed 50 percent of area median income.
If the NSP sub-grantee does not have at least five years experience providing rental housing to a low-income target population, it must either partner with one or more local housing authorities or non-profit organizations in the county which have such experience, or designate one to be the eligible applicant for supplemental funding.
(6) Recapture and Re-allocation of NSP funds. The Department shall recapture unobligated NSP funds in accordance with the process outlined in the State of Florida’s Action Plan Substantial Amendment as approved by HUD.
(7) Duration of assistance. NSP assistance may be provided for a maximum of four years based on the State’s program and availability of funding.
(8) Program Income. Any program income earned as a result of activities funded under this grant shall be returned to the Department within thirty (30) days of receipt or as otherwise outlined in the State’s substantial amendment to the 2008 Action Plan. Interest earned on escrow accounts shall be considered separately from program income.
(9) The Department shall conduct on-site monitoring visits to determine whether State’s sub-recipients are complying with program requirements. Sub-recipients shall respond to any issues identified in a monitoring report within thirty (30) days after receiving the report. Failure to respond may result in the Department rejecting requests to draw funds.
(10) Amendments. All proposed amendments to the Subgrant Agreement must be approved by the Department.
(a) Documentation Required. All requests for subgrant agreement amendments shall include the following written documentation for review by the Department:
1. A cover letter signed by the Chief Elected Official or his or her designee which describes the need for the proposed changes and their effect upon the approved project.
2. A completed DCA Modification to Grant Agreement form signed by the CEO or designee.
3. All application forms that would be changed by the proposed amendment.
4. A revised activity work plans if activity accomplishments, schedules or expenditures will change as a result of the amendment.
5. A revised budget showing the current and amended budget if amounts for activities will be changed.
6. If there is a change in activity location, a legible map which indicates the proposed change.
7. For amendments involving addition of an activity, reduction or deletion of an activity, or a reduction in proposed beneficiaries, a copy of the minutes of the meeting of the Citizen’s Advisory Task Force (CATF) when the proposed amendment was reviewed.
8. A public hearing to obtain citizen comments is required for any amendment involving addition of an activity, reduction or deletion of an activity, or a reduction in proposed beneficiaries. This hearing is in addition to review by the CATF. A copy of this notice must be submitted with the request for an amendment.
9. Signature of the Chief Elected Official, or designee on Form DCA 07.02, Request for Amendment, (as adopted on March 28, 2002).
(b) The amendment must be received by the Department at least forty-five (45) days prior to the end of the subgrant agreement. If the amendment is extending the subgrant agreement period, it must be received by the Department at least ninety (90) days prior to the end of the subgrant agreement. No funds shall be obligated or expended on an activity until the Department approves the amendment if such funds are dependent on the amendment’s approval.
(c) If the State’s sub-recipient requests administrative closeout prior to the termination date of the subgrant agreement, any amendment affecting closeout and requiring Department approval must be included with the closeout.
(d) Time Extensions to Subgrant Agreements. Any proposed amendment extending the termination date of the subgrant agreement must be approved by the Department. The State’s sub-recipient must explain any delay affecting project completion and must justify the need for the extension.
(11) Beneficiaries of Public Improvements. For activities where hookups or connections are required for beneficiary access to NSP-funded infrastructure, low-, moderate-, and middle income area benefit (LMMA) shall be determined by the number of low-, moderate-, and middle-income persons in households connected to and able to use the water, sewer or other infrastructure at the time of administrative closeout. For activities where hookups or connections are required as a condition for beneficiary access to a NSP funded infrastructure, no hookup or connection fees shall be charged to very-low, low-, moderate-, and middle-income beneficiaries. Further, no portion of the project construction costs shall be charged to low-, moderate-, and middle-income beneficiaries.
(12) Lead-Based Paint. The applicant shall adopt and implement procedures to fulfill regulatory and statutory requirements relating to Lead-Based Paint pursuant to 24 C.F.R. 570.487, 24 C.F.R. Part 35, and Section 302 of the Lead-Based Paint Poisoning Prevention Act (42 U.S.C. Section 4822 et seq.), as effective on 00-00-09. The applicant is required to:
(a) Prohibit use of lead-based paint;
(b) Notify potential beneficiaries of the hazards of lead-based paint;
(c) Inspect properties prior to initiating rehabilitation to determine if lead-based paint is present;
(d) Take any necessary actions to ensure the protection of workers and occupants during abatement;
(e) Ensure that proper cleanup and disposal procedures are used; and
(f) Retain records of enforcement and monitoring for at least three years.
(13) Procurement. Grant funds shall be used to obtain commodities and services only in accordance with written procurement procedures adopted by the local government and shall comply with the provisions of 24 C.F.R. 85.36, as effective on 00-00-09, which is hereby incorporated by reference, and, for covered professional services contracts, Section 287.055, F.S., (Consultants Competitive Negotiation Act).
(a) Any procurement which requires public notice in a newspaper shall be published in a daily newspaper of general circulation in a nearby Office of Management and Budget (OMB) designated metropolitan statistical area (MSA). Alternatively, a local government may substitute such notice with a combination of local newspaper publication and mailed announcements to potential bidders, which generates at least three responsible and responsive bids or proposals. Such publication and/or mailing shall allow at least 12 days for receipt of the proposals or bids.
(b) The Department must provide written permission prior to the local government awarding any contract exceeding $25,000 procured as a result of inadequate competition, a sole source or a noncompetitive procurement. For contracts below $25,000, the local government’s files must document the justification for such noncompetitive procurement which complies with 24 C.F.R. 85.36(b)(4).
(c) All contracts for professional services shall conform to the following:
1. Any Request for Proposals which includes more than one service shall provide that:
a. Proposals may be submitted for one or more of the services;
b. Qualifications and proposals shall be separately stated for each service;
c. The evaluation of the proposals shall be separate for each service.
2. A written evaluation, such as a ranking sheet or narrative, shall be prepared for each proposal, ranking or comparing each proposal to the criteria in the published Request for Proposals. Based on that criteria, the written evaluation will document why the successful proposal was selected.
3. A separate professional services contract must be procured and executed between the local government and any professional services consultant for each particular NSP subgrant and each service. Each advertisement for procurement of NSP professional services, except for subgrant application preparation, must identify either the NSP subgrant cycle by federal fiscal year or the NSP subgrant agreement number.
4. Each professional services contract must reference the NSP subgrant agreement to which it is applicable.
(d) Construction Contracts.
1. If NSP and other sources of funding are being jointly used to fund activities under a single contract, the activities to be paid for with NSP funds must be shown separately in the bid proposal so that the NSP activities and the amount of the contract to be paid from NSP funds are identifiable.
2. If, after applying any specified deductive alternates, construction bids exceed available funds, the local government shall not negotiate with the low bidder unless there is only one bidder or all bidders are allowed to submit revised bids for the revised project.
3. If the construction cost can be reduced by deleting entire line items or reducing quantities based on unit prices identified in the bid, the effect of such deletions or reductions on all bidders’ prices shall be determined. Contract award shall be made to the low, responsive and responsible bidder for the revised project.
4. All contracts in excess of $100,000 covered by Section 3 regulations shall contain the language required in 24 C.F.R. 135.38, as effective on 00-00-09, which is hereby incorporated by reference.
5. The provisions of this subsection shall not be construed to conflict with or supersede the requirements of Section 287.055, F.S., or any other applicable State or federal law.
(14) Housing Rehabilitation Standards. Upon completion of the housing rehabilitation program, all housing units addressed with NSP funds must be in compliance with the subgrantee’s local housing code and the HUD Section 8, Housing Quality Standards. This requirement does not apply if the construction activity is limited to water hookups, sewer hookups, the abandonment of wells, or the abandonment of septic systems with no internal or external modifications to the housing structure.
(15) If manufactured housing units are used for replacement housing, they must meet the following specifications:
(a) Manufactured housing units must be built to HUD post-1994 construction standards.
(b) The units must be new, previously uninstalled manufactured housing units.
(c) Units must bear HUD compliance certification meeting HUD wind resistance construction standards for wind zone 3.
(d) The county shall inspect and approve the installation of all manufactured housing units.
(e) Units must be installed to the manufacturer’s installation instructions.
(f) These funds may not be used for furniture or interior design costs, insurance, financing points, or add-on structures.
(g) Replacement units may be placed on leased land or resident-owned land.
(h) Site location must meet minimum safety criteria (e.g., not located in floodplain, not in high velocity wind zone, etc.).
(i) Units must be for owner-occupancy,
(j) The costs of each manufactured housing unit must not exceed the appraised value of the unit per the Fannie Mae/Freddie Mac manufactured housing appraisal guidelines currently in effect (e.g., Fannie Mae, Announcement 03-06, Appraisal Guidelines for Manufactured Housing).
(16) Adjustable Rate Mortgages. No adjustable rate mortgages can be obtained by persons acquiring houses assisted with state NSP funds. Mortgages must be for a fixed rate for a minimum of 15 years.
(17) Davis Bacon Labor Standards. Compliance with Davis Bacon Labor Standards will be required for construction, including rehabilitation, contracts that exceed $2,000 unless the property where rehabilitation or construction will occur contains or, for new construction, will contain less than eight units.
(18) Eminent Domain. State NSP funds cannot be used in conjunction with properties acquired through eminent domain.
(19) Environmental Review. All activities and projects must comply with the requirements of 24 CFR Part 58. An environmental assessment must be submitted to the Department and a Release of Funds sent to the State’s subgrantee prior to the obligation or expenditure of more than $15,000 in administrative funds. No other funds can be obligated or expended prior to the Release of Funds being sent to the State’s subgrantee.
(20) Housing Counseling. Each homebuyer assisted with NSP funds is required to receive and complete at least eight hours of homebuyer counseling form a HUD-approved housing counseling agency before obtaining a mortgage loan. The counseling may be funded with NSP funds.
(21) Property Acquisition. Each foreclosed property acquired with NSP funding must be acquired at a minimum discount of five percent below the current appraised value. The State encourages each applicant to obtain as much discount as possible. The overall portfolio of all properties purchased with the State’s allocation must meet a minimum of 15 percent discount. Each transaction will require a current appraisal completed within sixty (60) days of an offer made for the property.
(22) Settlement Cost. Subgrantees are encouraged to minimize settlement costs when selling to eligible property owners.
(23) Relocation Activities. No NSP funds can be used on permanent relocation activities under the State NSP. Temporary relocation is eligible provided the sub-recipient has an approved Anti-Displacement Relocation Policy.
(24) Subprime Mortgages. No subprime mortgages may be obtained by persons acquiring houses assisted with NSP funds.
(25) Uniform Relocation Act. All property acquisition is subject to the requirements of the federal Uniform Relocation and Real Properties Act. This applies to both voluntary and involuntary transactions. NSP requires an exception to the Uniform Relocation Act and purchase price requirements under CDBG regulations. URA requires that sellers of property acquired with CDBG funds be paid an amount equal to the appraised value of the property. Properties receiving NSP funds must be purchased at a minimum 15% discount from the current appraised value of the property. An appraisal by the purchasing entity is required and must be within 60 days of any offer. All other URA requirements, including relocation continue to apply.
(26) Subgrant Closeout.
(a) An administrative closeout may be submitted only after all activities have been completed and all documents required for final payment for all activities, including, but not limited to final inspections, release of liens, certificates of occupancy, and recording of liens has been received. If the sub-recipient has transferred funds from the NSP operating account or the escrow account and these funds remain under the control of the sub-recipient, the funds are not considered expended for purposes of administrative closeout unless they will be paid out as part of the closeout.
(b) At the time of submission of the closeout report, the State’s sub-recipient must have available documentation which verifies its certification that all construction has been completed, inspected and approved by all parties prior to the subgrant agreement end date and submission of the administrative closeout.
(c) Upon completion of the activities contained in the State’s sub-recipient NSP subgrant agreement, including any amendments, the State’s sub-recipient shall submit to the Department a closeout which, at a minimum, gives the final statement of costs, certifies that the project and all non-administrative activities are completed and accepted, certifies that all costs except those reflected on the closeout have been paid, and reports the demographics of the program’s beneficiaries.
(d) If any change has been made since the application map or the last map amendment, the closeout shall also contain a revised map of the activities completed during the term of the NSP subgrant agreement.
(e) The closeout shall include a list of the households assisted under the subgrant agreement, and certify that they met NSP household income eligibility requirements. HUD or DCA may require additional information to be submitted.
(f) For activities where hookups or connections are required for beneficiary access to the public improvement, evidence at the time of closeout must show:
1. The total number of persons in all households in the service area;
2. The number of low-, moderate-, and middle-income households (LMMH) connected to the infrastructure; and
3. Projects meeting the low-, moderate-, and middle-income area (LMMA) NSP national objective must document that the number of LMMA persons in households connected to the infrastructure divided by the total number of beneficiaries in the service area equals at least 51 percent or higher.
(g) The closeout must contain original signatures from the authorized representative of the State’s sub-recipient. Facsimile (FAX) submissions are not acceptable.
(h) If a State’s sub-recipient fails to meet contractual requirements on time, the Department reserves the right to require that a State’s sub-recipient financially (not administratively) close out a subgrant agreement in order to meet federal requirements for the timely distribution of funds set by HUD.
(i) The closeout is due within forty-five (45) days after expiration or termination of the subgrant agreement.
(27) Mitigation of fraud, waste and abuse.
(a) The Department will conduct oversight of the expenditure of NSP funds to prevent waste, fraud and abuse by monitoring, subgrantee monthly reporting and ensuring subgrantees are aware of federal financial recordkeeping and best practice methods for fraud prevention, through technical assistance and training.
(b) To prevent the opportunity for fraudulent activities or fiscal mismanagement related to real estate and financial transactions, sub-grantees are required to work with a third party management or accounting entity that can assist with proper asset valuation and secured transactions, unless they can demonstrate significant experience in these areas.
Rulemaking Authority Chapter 2009-01, Law of Florida. Law Implemented Chapter 2009-01, Law of Florida. History–New _______.