On September 23, 2019, the Florida Housing Finance Corporation issued an order granting Woodland Grove Apartments, LLC waivers of Rules 67-21.027(1), 67-21.003(1)(b), 67-21.003(8)(j), 67-48.004(3)(j) and 67-48.023(2) F.A.C. (2017) allowing for ...

 

FLORIDA HOUSING FINANCE CORPORATION

RULE NO.:RULE TITLE:

67-21.027HC General Program Procedures and Requirements

The Florida Housing Finance Corporation hereby gives notice: On September 23, 2019, the Florida Housing Finance Corporation issued an order granting Woodland Grove Apartments, LLC waivers of subsection 67-21.027(1), paragraphs 67-21.003(1)(b), 67-21.003(8)(j), 67-48.004(3)(j) and subsection 67-48.023(2) F.A.C. (2017) allowing for calculation of the minimum set aside percentage based on income averaging; allowing Petitioner to change the total set-aside percentages stated in its Application for MMRB from 100% at 60% AMI to 40% at 60% AMI; and granting a waiver those provisions of the RFA requiring that applicants set aside at least 80% of the Development's total units at 60% AMI, and set aside at least 10% of the total units at 28%. Petitioner's set-aside commitments are changed to 18.4% (35 units) at 30% AMI, 40% (76 units) at 60% AMI, 27.9% (53 units) at 70% AMI, and 13.7% (26 units) at 80% AMI. These waivers are contingent on receiving a positive recommendation in the Credit Underwriting Report. 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 July 15, 2019 and notice of the receipt of petition was published on July 16, 2019 in Vol. 45, Number 137, 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.