On July 17, 2020, the Florida Housing Finance Corporation issued an order granting a waiver from Rule 67-21.026(13)(g), Fla. Admin. Code (2018) for Palmetto Leased Housing Associates I, LLLP allowing Petitioner to subcontract with an Affiliate of ...

 

FLORIDA HOUSING FINANCE CORPORATION

RULE NO.:RULE TITLE:

67-21.026HC Credit Underwriting Procedures

The Florida Housing Finance Corporation hereby gives notice:

On July 17, 2020, the Florida Housing Finance Corporation issued an order granting a waiver from Rule 67-21.026(13)(g), Fla. Admin. Code (2018) for Palmetto Leased Housing Associates I, LLLP allowing Petitioner to subcontract with an Affiliate of the General Contractor, CB Structures, Inc. under the following conditions: A. Limit the General Contractor Fee on the costs subcontracted to CB Structures, Inc. to 7%; B. Provide that all labor and materials provided by CB Structures, Inc. will be at cost with no profit or fees built into those figures except that costs incurred by CB Structures, Inc. will include the compensation of a field superintendent hired to oversee the work performed by CB Structures, Inc. as long as those duties do not overlap with the duties of the general superintendent for the General Contractor; C. Have an independent Certified Public Accountant confirm and/or audit all payments between the Affiliated entities and verify 100% of the work performed by CB Structures, Inc. and the independent Certified Public Account will also confirm and/or audit all payments to the field superintendent hired by CB Structures, Inc. and will report those costs within the General Contractor Cost Certification; and D. Have an independent Certified Public Accountant also confirm and/or verify an additional 40% of the Development's costs per the Final Cost Certification Application Package. 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 June 17, 2020, the amended petition was filed on June 23, 2020, and notice of the receipt of the petitions was published on June 25, 2020 in Vol. 46, Number 124 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.