The Florida Housing Finance Corporation hereby gives notice:
of the entry of an Order Granting a Petition for Waiver or Variance.
NAME OF THE PETITIONER: MALABAR COVE II, LTD
DATE PETITION WAS FILED: February 16, 2011
RULE NUMBER AND NATURE OF THE RULE FROM WHICH THE WAIVER OR VARIANCE IS SOUGHT: subsection 67-48.010(8), F.A.C., which allows accrued and unpaid interest payments due annually on the State Apartment Incentive Loan (“SAIL”) Program loans to be deferred to the extent “Development Cash Flow” as defined under subsection 67-48.002(30), F.A.C. is insufficient.
REFERENCE TO THE PLACE AND DATE OF THE PUBLICATION OF THE NOTICE OF PETITION: Florida Administrative Weekly, February 25, 2011, Vol. 37, No. 9
THE DATE THE BOARD OF DIRECTORS OF FLORIDA HOUSING FINANCE CORPORATION APPROVED THE VARIANCE OR WAIVER: March 18, 2011
THE GENERAL BASIS FOR THE DECISION: The purpose of the underlying statute is to make loans to Eligible Housing Providers and Eligible Home Buyers for the construction of affordable housing. The waiver will further this purpose.
A copy of the Order or additional information may be obtained by contacting:
Della Harrell, Corporation Clerk, telephone (850)488-4197 or e-mail to Della.Harrell@floridahousing.org. The Final Order is posted on Florida Housing’s website at floridahousing.org.