28500945, 67-48.004 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 28500945

Notice of Proposed Rule

Department:

FLORIDA HOUSING FINANCE CORPORATION

Chapter:

COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS SAIL/HOME/HC

Overview

RULE:

67-48.004	Selection Procedures for Developments
67-48.0072	Credit Underwriting and Loan Procedures

PURPOSE:

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

(1) Address loan amounts, 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.; and
(2) Address 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.

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:

Prior to the opening of a funding process, the Corporation (1) researches the market need for affordable housing throughout the state of Florida and (2) evaluates prior competitive funding processes to determine what changes or additions should be added to the Rule, competitive solicitations, and the Qualified Allocation Plan (QAP). The proposed amendments to the Rule and adopted reference material include changes that will create a formulated process for selecting Developments that will apply under these funding programs.

RULEMAKING AUTHORITY:

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

LAW:

420.507(13), (22), (24), (48), 420.5087, 420.5089, 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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