waiver of Villa Aurora, LLLP of Rules 67-48.010 (3)(b) and 67-48.010(5), Florida Administrative Code (2006), which will allow the interest rate on the SAIL loan to be reduced from three (3%) percent to a blended rate between 0% and 1%, based upon ...

 

FLORIDA HOUSING FINANCE CORPORATION

RULE NO.:RULE TITLE:

67-48.010:Terms and Conditions of SAIL Loans

NOTICE IS HEREBY GIVEN that on May 21, 2013, the Florida Housing Finance Corporation received a petition for waiver of Villa Aurora, LLLP of paragraph 67-48.010(3)(b) and subsection 67-48.010(5), Florida Administrative Code (2006), which will allow the interest rate on the SAIL loan to be reduced from three (3%) percent to a blended rate between 0% and 1%, based upon the pro rata share of units set aside for homeless, as per the current SAIL rule (paragraph 67-48.010(3)(b) (2011)) and from subsection 67-48.010(5) to allow interest on the SAIL loan to be paid after payment of operating expenses of the Development.

A copy of the Petition for Variance or Waiver may be obtained by contacting Della Harrell, Corporation Clerk, Florida Housing Finance Corporation, 227 North Bronough Street, Suite 5000, Tallahassee, Florida 32399-1329. The Petition has also been posted on Florida Housing’s website at floridahousing.org. Florida Housing will accept comments concerning the Petition for 14 days from the date of publication of this notice. To be considered, comments must be received on or before 5:00 p.m., Eastern Standard Time, on the 14th day after publication of this notice at Florida Housing Finance Corporation, 227 North Bronough Street, Suite 5000, Tallahassee, Florida 32399-1329.