Florida Statutes Part V - Florida Housing Finance Corporation (Ss. 420.501-420.55)
- 420.501 - Short Title.
This act may be cited as the “Florida Housing Finance Corporation Act.”History.—s. 1, ch. 80-161; s. 4, ch. 97-167.
- 420.502 - Legislative Findings.
It is hereby found and declared as follows:(1) The costs of developing, operating, and maintaining multifamily rental housing have increased substantially and have thereby contributed to...
- 420.503 - Definitions.
As used in this part, the term:(1) “Affordable housing debt” means debt issued by or loans made to the corporation, counties, municipalities, or other public agencies...
- 420.504 - Public Corporation; Creation, Membership, Terms, Expenses.
(1) A public corporation and a public body corporate and politic, to be known as the “Florida Housing Finance Corporation,” is created within the Department of...
- 420.505 - Meetings; Quorum; Voting.
The powers of the corporation shall be vested in the members of its board of directors in office from time to time. Five members of...
- 420.506 - Executive Director; Agents And Employees; Inspector General.
(1) The appointment and removal of an executive director shall be by the executive director of the Department of Economic Opportunity, with the advice and consent...
- 420.5061 - Transfer Of Agency Assets And Liabilities.
The corporation is the legal successor in all respects to the 1agency, is obligated to the same extent as the 1agency under any agreements existing...
- 420.507 - Powers Of The Corporation.
The corporation shall have all the powers necessary or convenient to carry out and effectuate the purposes and provisions of this part, including the following...
- 420.508 - Special Powers; Multifamily And Single-family Projects.
The corporation shall have the special power to:(1)(a) Purchase or take assignments of, and enter into commitments to purchase or to take assignments of, mortgage loans...
- 420.5087 - State Apartment Incentive Loan Program.
There is hereby created the State Apartment Incentive Loan Program for the purpose of providing first, second, or other subordinated mortgage loans or loan guarantees...
- 420.5088 - Florida Homeownership Assistance Program.
There is created the Florida Homeownership Assistance Program for the purpose of assisting low-income and moderate-income persons in purchasing a home as their primary residence...
- 420.5089 - Home Investment Partnership Program; Home Investment Partnership Fund.
(1) There is authorized to be established by the corporation with a qualified public depository meeting the requirements of chapter 280 the HOME Investment Partnership Fund,...
- 420.509 - Revenue Bonds.
(1) The issuance of revenue bonds to provide sufficient funds to achieve the purposes of this part; pay interest on bonds; pay expenses incident to the...
- 420.5092 - Florida Affordable Housing Guarantee Program.
(1) There is created the Florida Affordable Housing Guarantee Program for the purposes of:(a) Stimulating creative private sector lending activities to increase the supply and lower the...
- 420.5093 - State Housing Tax Credit Program.
(1) There is created the State Housing Tax Credit Program for the purposes of stimulating creative private sector initiatives to increase the supply of affordable housing...
- 420.5095 - Community Workforce Housing Innovation Pilot Program.
(1) The Legislature finds and declares that recent rapid increases in the median purchase price of a home and the cost of rental housing have far...
- 420.5099 - Allocation Of The Low-income Housing Tax Credit.
(1) The Florida Housing Finance Corporation is designated the housing credit agency for the state within the meaning of s. 42(h)(7)(A) of the Internal Revenue Code...
- 420.51 - State And Local Government Not Liable On Bonds Or Notes.
The bonds of the corporation shall not be a debt of the state or of any local government, and neither the state nor any local...
- 420.511 - Strategic Business Plan; Long-range Program Plan; Annual Report; Audited Financial Statements.
(1) The corporation shall develop a strategic business plan for the provision of affordable housing for the state. The plan must be consistent with the long-range...
- 420.512 - Conflicts Of Interest.
(1) If any member, officer, or employee of the corporation shall have an interest, either direct or indirect, in any contract to which the corporation is,...
- 420.513 - Exemption From Taxes And Eligibility As Investment.
(1) The property of the corporation, the transactions and operations thereof, the income therefrom, and the bonds of the corporation issued under this act, together with...
- 420.514 - Corporate Existence.
The corporation and its corporate existence shall continue until terminated by law, provided that no such law shall take effect so long as the corporation...
- 420.515 - Inconsistent Provisions Of Other Laws Superseded.
Insofar as the provisions of this part are inconsistent with the provisions of any other law, general, special, or local, the provisions of this part...
- 420.516 - Discrimination Prohibited.
It is an unlawful practice for a sponsor, while bonds are outstanding for the purpose of funding or financing the sponsor’s project, to discriminate against...
- 420.517 - Affordable Housing And Job Training Coordination.
The Florida Housing Finance Corporation shall undertake efforts to provide incentives to developers to build housing that encourages onsite job skills training to enable low-income...
- 420.521 - Short Title.
Sections 420.521-420.529 may be cited as the “Predevelopment Loan Program Act.”History.—s. 13, ch. 88-376; s. 2, ch. 89-121; s. 1, ch. 93-181.Note.—Former s. 420.303.
- 420.522 - Legislative Findings.
It is hereby found by the Legislature that:(1) There continues to exist a serious shortage of affordable housing for farmworkers, very-low-income persons and families, and low-income...
- 420.523 - Purpose.
The purpose of the Predevelopment Loan Program is to:(1) Provide for financial and technical assistance to local governments, housing authorities, and not-for-profit organizations who will provide...
- 420.524 - Definitions Relating To Predevelopment Loan Program Act.
For the purpose of ss. 420.521-420.529, the term:(1) “Community-based organization” or “not-for-profit organization” means any group incorporated under chapter 617 to provide housing and other services...
- 420.525 - Housing Predevelopment Fund.
(1) There is authorized to be established by the corporation with a qualified public depository meeting the requirements of chapter 280 a separate fund to be...
- 420.526 - Predevelopment Loan Program; Loans And Grants Authorized; Activities Eligible For Support.
(1) The corporation is authorized to make loans and grants from the Housing Predevelopment Fund to eligible sponsors when it determines that:(a) A need for housing for...
- 420.527 - Criteria For Determining Threshold Compliance.
(1) The corporation shall establish the criteria for determining threshold compliance with corporation objectives. Final decisions regarding funding shall be approved by the corporation board. The...
- 420.528 - Rules; Summary Required With Annual Report.
(1) The corporation may adopt rules necessary to implement ss. 420.521-420.529 and to further specify the purposes for which loan and grant funds may be expended,...
- 420.529 - Default By Sponsor.
If a default on a loan occurs, the corporation may foreclose on any mortgage or security interest or commence any legal action to protect the...
- 420.5295 - Applicability.
To the extent that provisions of this part are not inconsistent with contract provisions under the Rural Land Acquisition and Site Development Act, the Farmworker...
- 420.531 - Affordable Housing Catalyst Program.
The corporation shall operate the Affordable Housing Catalyst Program for the purpose of securing the expertise necessary to provide specialized technical support to local governments...
- 420.55 - Housing; Response To Disasters.
The Florida Housing Finance Corporation is authorized to provide funds to eligible entities for affordable housing recovery in those areas of the state which sustained...
Last modified: September 23, 2016