Florida Regulations 67-60.001: Purpose and Intent
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The purpose of this rule chapter is to establish the procedures by which the Corporation shall:
(1) Administer the competitive solicitation funding process to make and service mortgage loans for new construction or rehabilitation of affordable rental units under the State Apartment Incentive Loan (SAIL) Program authorized by Florida Statutes § 420.5087, and the HOME Investment Partnerships (HOME) Program authorized by Florida Statutes § 420.5089;
(2) Administer the competitive solicitation processes to implement the provisions of the Housing Credit (HC) Program authorized by Section 42 of the IRC and Florida Statutes § 420.5099; and,
(3) Administer the competitive solicitation funding process for any other Corporation program.
(4) This rule chapter shall be reviewed, and if necessary, repealed or renewed through the rulemaking process no later than five years from the effective date.
Rulemaking Authority Florida Statutes § 420.507(12). Law Implemented 420.507(48), 420.5087, 420.5089(2), 420.5099 FS. History-New 8-20-13, Amended 10-8-14, Repromulgated 9-15-16, 7-8-18, Amended 7-6-22.
Terms Used In Florida Regulations 67-60.001
- 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.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(2) Administer the competitive solicitation processes to implement the provisions of the Housing Credit (HC) Program authorized by Section 42 of the IRC and Florida Statutes § 420.5099; and,
(3) Administer the competitive solicitation funding process for any other Corporation program.
(4) This rule chapter shall be reviewed, and if necessary, repealed or renewed through the rulemaking process no later than five years from the effective date.
Rulemaking Authority Florida Statutes § 420.507(12). Law Implemented 420.507(48), 420.5087, 420.5089(2), 420.5099 FS. History-New 8-20-13, Amended 10-8-14, Repromulgated 9-15-16, 7-8-18, Amended 7-6-22.