On September 23, 2019, the Florida Housing Finance Corporation issued an order granting Clermont Ridge, Ltd. a waiver of Rule 67-48.002(83) Fla. Admin. Code (2017) so that TB Affordable will be considered a non-profit entity. This waiver is ...

 

FLORIDA HOUSING FINANCE CORPORATION

RULE NO.:RULE TITLE:

67-48.002Definitions

The Florida Housing Finance Corporation hereby gives notice: On September 23, 2019, the Florida Housing Finance Corporation issued an order granting Clermont Ridge, Ltd. a waiver of subsection 67-48.002(83) Fla. Admin. Code (2017) so that TB Affordable will be considered a non-profit entity. This waiver is conditioned on Petitioner ensuring that Provident and TB Affordable, through its related entity CR GC, each receive at least 15% of the Developer Fee. Petitioner's request to change the Principals of each Developer by adding CR GC as a Co-Developer, pursuant to paragraph 67-48.004(3)(b), Fla. Admin. Code (2017) was granted. Petitioner's request to change the Applicant entity by adding TB Affordable as the 51% General Partner, changing Provident from a General Partner to a Special Limited Partner with a 10% ownership interest, and reducing Blue Sky Clermont's ownership interest to 39% was granted. 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 August 30, 2019 and notice of the receipt of petition was published on September 4, 2019 in Vol. 45, Number 172, 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.