Florida Regulations 67-38.003: Application Submission Procedures
Current as of: 2024 | Check for updates
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(1) At any time during the year, Applicants may submit an Application to the Corporation for PLP funding. An Applicant, Affiliate, limited partnership, or general partner thereof shall not have more than two (2) Outstanding Loans at any given time, without the prior written approval of the Corporation. In order for an applicant to be approved to have more than two Outstanding Loans, the Applicant shall submit a written request to the Corporation detailing the experience of all Developers and co-developers involved in the proposed Development(s) in producing affordable housing and a proposed plan for permanent or construction financing on the Development(s).
(2) All Applications delivered by hand shall be presented to Corporation staff to be inscribed with the time and date of receipt. Applications may also be mailed to the Corporation at 227 North Bronough Street, Suite 5000, Tallahassee, Florida 32301-1329. Applications mailed to the Corporation will be inscribed with the time and date received.
(3) Applications that do not contain the required information and documentation as set forth in the Application Package shall be determined to have not met Threshold Requirements.
(4) An original and two copies of the completed Application and attachments shall be submitted to the Corporation if the Applicant does not intend to utilize the PLP Loan, whole or in part, to acquire the Development Site. In the event, the Applicant does intend to utilize the PLP Loan, whole or in part to acquire the Development Site, then an original and three copies of the completed Application shall be submitted to the Corporation. The original Application shall contain original signatures on pages which specifically requests an original signature. Faxed, scanned, photocopied, or otherwise duplicated signatures shall not be considered acceptable within the original Application.
(5) Applications shall be accompanied by the non-refundable Application fee as set forth in the Application Package. Applications shall be submitted on the forms provided in the Application Package and shall be bound in three ring binders and shall have tabs for each form and exhibit. Exhibits shall be placed behind the form to which they refer. Failure to comply with any of the requirements set forth in this rule chapter shall result in the determination that the Application has not met Threshold Requirements.
(6) Applications that propose to develop individual homeownership units shall be submitted separately from those that propose to develop multifamily rental units.
Rulemaking Authority 420.528 FS. Law Implemented 420.507, 420.521-.529 FS. History-New 3-23-93, Amended 1-16-96, Formerly 9I-38.003, Amended 3-26-98, 7-17-00, 7-21-03, 2-3-05, 11-21-07, 11-22-09.
Terms Used In Florida Regulations 67-38.003
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(3) Applications that do not contain the required information and documentation as set forth in the Application Package shall be determined to have not met Threshold Requirements.
(4) An original and two copies of the completed Application and attachments shall be submitted to the Corporation if the Applicant does not intend to utilize the PLP Loan, whole or in part, to acquire the Development Site. In the event, the Applicant does intend to utilize the PLP Loan, whole or in part to acquire the Development Site, then an original and three copies of the completed Application shall be submitted to the Corporation. The original Application shall contain original signatures on pages which specifically requests an original signature. Faxed, scanned, photocopied, or otherwise duplicated signatures shall not be considered acceptable within the original Application.
(5) Applications shall be accompanied by the non-refundable Application fee as set forth in the Application Package. Applications shall be submitted on the forms provided in the Application Package and shall be bound in three ring binders and shall have tabs for each form and exhibit. Exhibits shall be placed behind the form to which they refer. Failure to comply with any of the requirements set forth in this rule chapter shall result in the determination that the Application has not met Threshold Requirements.
(6) Applications that propose to develop individual homeownership units shall be submitted separately from those that propose to develop multifamily rental units.
Rulemaking Authority 420.528 FS. Law Implemented 420.507, 420.521-.529 FS. History-New 3-23-93, Amended 1-16-96, Formerly 9I-38.003, Amended 3-26-98, 7-17-00, 7-21-03, 2-3-05, 11-21-07, 11-22-09.