On June 12, 2023, the Florida Housing Finance Corporation issued an order granting the waiver from Rules 67-21.0025(7)(c) and 67-21.026(10), Florida Administrative Code from Fairfield Cedar Grove, LP, i.) relieving Petitioner ....
FLORIDA HOUSING FINANCE CORPORATION
RULE NO.: RULE TITLE:
67-21.0025 Miscellaneous Criteria
The Florida Housing Finance Corporation hereby gives notice:
On June 12, 2023, the Florida Housing Finance Corporation issued an order granting the waiver from paragraph 67-21.0025(7)(c) and subsection 67-21.026(10), Florida Administrative Code from Fairfield Cedar Grove, LP, i.) relieving Petitioner of the principal disclosure requirement for all employee-owners of the referenced Profit-Sharing Entities on the condition that the Petitioner provide a list of natural person Principals for the Profit-Sharing Entities if requested by staff. Failure to do so may result in staff withholding 8609s; and ii.) allowing Petitioner to perform certain rehabilitation work without a GMP contract under the following conditions:
a. Receipt of a positive recommendation from Seltzer Management Group, Inc, the credit underwriter assigned to this Development in conjunction with the construction consultant, for the costs incurred outside of a GMP contract; and
b. Receipt of a satisfactory Agreed Upon Procedures performed by an independent Certified Public Accountant, which procedures must at a minimum (i) confirm and test the costs to all contractors and vendors utilizing the steps outlined in the General Contractor Cost Certification Instructions, (ii) confirm that all overhead, administrative costs, or other fees paid as compensation for oversight of the work performed are documented and within 14% of the total costs paid to vendors and contractors; (iii) confirm that the costs incurred by any one contractor or vendor or any group of entities that have common ownership or are Affiliates of any other contractor or vendor does not exceed the subcontractor limitations as outlined in Florida Administrative Code Chapter 67-21; (iv) confirm that no construction or inspection work was performed by a representative of the Applicant or Developer; (v) confirm that no construction cost was contracted to any entity that has common ownership or is an Affiliate of the Applicant, General Contractor, or Developer.
Florida Housing determined that the Petitioner had demonstrated that it would suffer a substantial hardship if the waiver was not granted. The petition was filed on May 22, 2023, and notice of the receipt of petition was published on May 23, 2023, in Vol. 49, Number 100 F.A.R.
A copy of the Order or additional information may be obtained by contacting: Ana McGlamory, Corporation Clerk, Florida Housing Finance Corporation, 227 N. Bronough St., Ste. 5000, Tallahassee, FL 32301-1329.
