420.631 Definitions relating to Urban Homesteading Act.—As used in ss. 420.630-420.635:
(1) “Authority” or “housing authority” means any of the public corporations created under s. 421.04.
(2) “Homestead agreement” means a written contract between a local government or its designee and a qualified buyer which contains the terms under which the qualified buyer may acquire a single-family housing property.
(3) “Local government” means any county or incorporated municipality within this state.
(4) “Designee” means a housing authority appointed by a local government, or a nonprofit community organization appointed by a local government, to administer the urban homesteading program for single-family housing under ss. 420.630-420.635.
(5) “Nonprofit community organization” means an organization that is exempt from taxation under s. 501(c)(3) of the Internal Revenue Code.
(6) “Office” means the Office of Urban Opportunity within the Department of Economic Opportunity.
(7) “Qualified buyer” means a person who meets the criteria under s. 420.633.
(8) “Qualified loan rate” means an interest rate that does not exceed the interest rate charged for home improvement loans by the Federal Housing Administration under Title I of the National Housing Act, ch. 847, 48 Stat. 1246, or 12 U.S.C. ss. 1702, 1703, 1705, and 1706b et seq.
History.—s. 23, ch. 99-378; s. 23, ch. 2004-243; s. 337, ch. 2011-142.
Section: Previous 420.621 420.622 420.623 420.624 420.625 420.626 420.6275 420.628 420.630 420.631 420.632 420.633 420.634 420.635 NextLast modified: September 23, 2016