67-37.002. Definitions

As used in this rule chapter, the following definitions shall apply:

(1) “Administrative Expenditures” means those expenditures directly related to implementation of the Local Housing Assistance Plans.

(2) “Annual Gross Income” means Annual Gross Income as defined in Section 420.9071(4), F.S.

(3) “Annual Report” means a report required to be completed and submitted to the Corporation by September 15 of each year pursuant to Section 420.9075(10), F.S.

(4) “Assisted Housing” or “Assisted Housing Development” means Assisted Housing as defined in Section 420.9071(29), F.S.

(5) “Catalyst” means the Affordable Housing Catalyst Program as described in Section 420.531, F.S.

(6) “Debt Service” means the amount required in any fiscal year to pay the principal of, redemption premium, if any, and interest on bonds and any amounts required by the terms of the documents authorizing, securing, or providing liquidity for bonds necessary to maintain in effect any such liquidity or security arrangements.

(7) “Default” means the failure to make required payments on a financial loan secured by a mortgage that may lead to foreclosure and loss of property ownership.

(8) “Deferred Payment Loan” means funds provided to a borrower under terms that calls for repayment to be delayed for a certain length of time, until certain circumstances change, or a certain threshold is met.

(9) “Eligible Housing” means as defined in Section 420.9071(8), F.S.

(10) “Encumbered” means that deposits made to the local affordable housing trust fund have been committed by contract, or purchase order, letter of commitment or award in a manner that obligates the county, eligible municipality, or interlocal entity to expend the amount upon delivery of goods, the rendering of services, or the conveyance of real property by a vendor, supplier, contractor, or owner.

(11) “Essential Service Personnel” means persons in need of affordable housing who are employed in occupations or professions in which they are considered essential service personnel, as defined by each county and eligible municipality within its respective local housing assistance plan pursuant to Section 420.9075(3)(a), F.S.

(12) “Expended” means the affordable housing activity is complete and funds deposited to the local affordable housing trust fund have been transferred from the local housing assistance trust fund account to pay for the cost of the activity.

(13) “Extremely Low Income Household” or “ELI” means one or more natural persons or a family that has a total annual gross household income that does not exceed 30 percent of the area median income adjusted for family size for households within the metropolitan statistical area, the county, or the non-metropolitan median for the state, whichever is greatest.

(14) “Foreclosure” means the legal action by a mortgage holder to require repayment of a Loan through the sale of the subject property.

(15) “Forgivable Loan” means a loan with no repayment obligation if requirements of the loan are met for a specified period of time.

(16) “Grant” means Grant as defined in Section 420.9071(12), F.S.

(17) “Home Ownership Activities” means the use of the local affordable housing trust fund moneys for the purpose of providing owner-occupied housing. Such uses include construction, rehabilitation, purchase, and lease-purchase financing where the primary purpose is the eventual purchase of the housing by the occupant within twenty-four months from initial execution of a lease agreement or within twenty-four (24) months of the applicable fiscal year, whichever occurs first.

(18) “Interlocal Entity” means an entity created pursuant to the provisions of Chapter 163, Part I, F.S., for the purpose of establishing a joint local housing assistance plan between two or more SHIP eligible local governments pursuant to the provisions of Section 420.9072(5), F.S.

(19) “Loan” means Loan as defined in Section 420.9071(13), F.S.

(20) “Local Housing Incentive Strategies” means Local Housing Incentive Strategies as defined in Section 420.9071(16), F.S.

(21) “Persons With Special Needs” means Persons with Special Needs as defined in Section 420.0004(13), F.S.

(22) “Preservation” means Preservation as defined in Section 420.9071(30), F.S.

(23) “Program Income” means Program Income as defined in Section 420.9071(24), F.S.

(24) “Project Delivery Costs” means those costs related to the delivery of housing related services to an eligible applicant that are not included as part of Administrative Expenditures.

(25) “Recaptured Funds” means Recaptured Funds as defined in Section 420.9071(25), F.S.

(26) “Rehabilitation” means repairs or improvements which are needed for safe or sanitary habitation, correction of substantial code violations, or the creation of additional living space.

(27) “Review Committee” means the committee established pursuant to Section 420.9072(3)(a), F.S.

(28) “SHIP” or “SHIP Program” means the State Housing Initiatives Partnership Program created pursuant to the State Housing Initiative Partnership Act, Sections 420.907-.9079, F.S.

(29) “Sponsor” means eligible sponsor as defined in Section 420.9071(11), F.S.

(30) “State” means the State of Florida.

(31) “Sub-Recipient” means a person or organization contracted by a SHIP eligible local government that is compensated with SHIP funds to provide administration of any portion of the SHIP program.

(32) “Welfare Transition Program” means a program pursuant to the provisions of Section 445.006, F.S.

Rulemaking Authority 420.9072(9) FS. Law Implemented 420.9072 FS. History–New 11-26-92, Amended 2-9-94, 12-28-94, 1-6-98, Formerly 9I-37.002, Amended 12-26-99, 9-22-03, 1-30-05, 11-5-06, 2-24-08, 11-22-09, 5-23-17.