General Program Requirements and Restrictions

 

FLORIDA HOUSING FINANCE CORPORATION

RULE NO: RULE TITLE
67-38.0026: General Program Requirements and Restrictions

NOTICE OF CHANGE

Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 33, No. 31, August 3, 2007 issue of the Florida Administrative Weekly.

(5) The Corporation shall may limit the PLP Loan to an amount which can be secured through a mortgage on the Development Site, the pledging of capital fund finance program funds as approved by HUD or other collateral approved by the Corporation.  Such determination shall require written recommendation by the TAP or Credit Underwriter and be based on the following: mortgages currently on the Development Site, or value of the Development Site as determined by appraisal dated within 12 months of receipt of the Application.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Robert Dearduff, Special Programs Administrator, Florida Housing Finance Corporation, 227 North Bronough Street, Suite 5000, Tallahassee, Florida 32301-1329, [phone]