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Florida Administrative Code (Last Updated: April 18, 2024) |
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67. Florida Housing Finance Corporation |
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D67. Departmental |
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67-50. Florida Housing Finance Corporation Homeownership Loan Program |
1(1) A Scattered Site Development must meet the definition in subsection 1267-50.005(83), 13F.A.C., under this rule chapter and cannot exceed twenty-five (25) Units. Information in this section is meant to clarify the credit underwriting and environmental review process. All other requirements of HLP still apply.
46(2) Applicants will not be required to demonstrate site control during the application cycle or credit underwriting unless construction financing is requested. However, each Applicant will be required to submit supporting information for the general areas in which funding will be used during the credit underwriting process for the proposed number of homes. This option is available to Applicants applying for purchase assistance funds only.
111(3) Florida Housing’s Credit Underwriter will perform an underwriting analysis of the Developer to determine experience, financial capacity and the economic feasibility of the proposed Development and make a recommendation to the Board.
144(4) Upon completion of credit underwriting and approval from the Board, the Developer must identify suitable lots in groups of a minimum of four (4), demonstrate site control for those lots, and provide the appropriate information to all service providers for further analyses relating to environmental impacts, suitability and affordability within six (6) months of Board approval date.
202(5) All Scattered Site Developments will be required to undergo an environmental analysis in accordance with ASTM E1528-00 standards, which is adopted and incorporated into this rule chapter by reference and which is available by contacting the Corporation at 227 North Bronough Street, Suite 5000, Tallahassee, Florida 32301-1329. The analysis must be completed prior to the submission of the group of four (4) or more lots to the Corporation.
271(6) For HOME developments only, as an additional HUD requirement, Florida Housing’s environmental specialist, or designee, will perform the environmental analysis pursuant to 29424 CFR §92.352, 297which is adopted and incorporated into this rule chapter by reference and which is available at http://www.gpoaccess.gov/cfr/index.html.
314Rulemaking Authority 316420.507(12), 317(23) FS. Law Implemented 321420.507(23), 322420.5088 FS. 324History–New 8-9-05.
