The Florida Senate

420.511  Business plan; strategic plan; annual report.--

(1)  The corporation shall develop a business plan for the provision of affordable housing for the state. The plan shall not be inconsistent with the strategic plan prepared pursuant to subsection (2) and shall contain performance measures and specific performance targets for the following:

(a)  The ability of low-income and moderate-income Floridians to access housing that is decent and affordable.

(b)  The continued availability and affordability of housing financed by the corporation to target populations.

(c)  The availability of affordable financing programs, including equity and debt products, and programs that reduce gaps in conventional financing, to increase individual access to housing and stimulate private production of affordable housing.

(d)  The establishment and maintenance of efficiencies in the delivery of affordable housing.

(e)  Such other measures as directed by the corporation's board of directors.

The corporation shall also compile data on the stimulus of economic activity created by the affordable housing finance programs administered by the corporation.

(2)  The corporation, in equal partnership with the department, shall develop annually a strategic plan for the provision of affordable housing in Florida as part of the department's agency strategic plan required pursuant to chapter 186. In part, the plan shall include provisions that maximize the abilities of the corporation and the department to implement the state housing strategy established under s. 420.0003, to respond to federal housing initiatives, and to develop programs in a manner that is more responsive to the needs of public and private partners. The plan shall be developed on a schedule consistent with that established by ss. 186.021 and 186.022. For purposes of this act, the executive director or his or her designee shall serve as the corporation's representative to achieve a coordinated and integrated planning relationship with the department.

(3)  The corporation shall submit to the Governor and the presiding officers of each house of the Legislature, within 2 months after the end of its fiscal year, a complete and detailed report setting forth:

(a)  Its operations and accomplishments;

(b)  Its receipts and expenditures during its fiscal year in accordance with the categories or classifications established by the corporation for its operating and capital outlay purposes;

(c)  Its assets and liabilities at the end of its fiscal year and the status of reserve, special, or other funds;

(d)  A schedule of its bonds outstanding at the end of its fiscal year, together with a statement of the principal amounts of bonds issued and redeemed during the fiscal year; and

(e)  Information relating to the corporation's activities in implementing the provisions of ss. 420.5087 and 420.5088. The report required by this subsection shall include, but not be limited to:

1.  The number of people served, delineated by income, age, family size, and racial characteristics.

2.  The number of units produced under each program.

3.  The average cost of producing units under each program.

4.  The average sales price of single-family units financed under s. 420.5088.

5.  The average amount of rent charged based on unit size on units financed under s. 420.5087.

6.  The number of persons in rural communities served under each program.

7.  The number of farmworkers served under each program.

8.  The number of elderly persons served under each program.

9.  The extent to which geographic distribution has been achieved in accordance with the provisions of s. 420.5087.

10.  Any other information the corporation deems appropriate.

(4)  The corporation shall submit, with the annual report required by this section, a copy of an annual financial audit of its accounts and records and an annual compliance audit of its programs conducted by an independent certified public accountant performed in accordance with generally accepted auditing standards and government auditing standards.

(5)  Both the corporation's business plan and annual report shall recognize the different fiscal periods under which the corporation, the state, the Federal Government, and local governments operate.

History.--s. 1, ch. 80-161; s. 10, ch. 88-376; s. 4, ch. 91-220; s. 21, ch. 97-167; s. 11, ch. 98-56.