| 1 | A bill to be entitled |
| 2 | An act relating to affordable housing; amending s. 20.055, |
| 3 | F.S.; revising the definition of "state agency" to include |
| 4 | the Florida Housing Finance Corporation; revising the |
| 5 | definition of "agency head" to include the board of |
| 6 | directors of the corporation; requiring the inspector |
| 7 | general to prepare an annual report; amending s. 159.608, |
| 8 | F.S.; providing a housing finance authority with an |
| 9 | additional purpose for which it may exercise its power to |
| 10 | borrow; amending s. 163.3177, F.S.; revising provisions |
| 11 | relating to the elements of local comprehensive plans to |
| 12 | authorize the inclusion of an element for affordable |
| 13 | housing for certain seniors; providing for the disposition |
| 14 | of real property by a local government for the development |
| 15 | of affordable housing; amending s. 201.15, F.S.; revising |
| 16 | the allocation of certain proceeds distributed from the |
| 17 | excise tax on documents that are paid into the State |
| 18 | Treasury to the credit of the State Housing Trust Fund; |
| 19 | providing for retroactive repeal of s. 8, ch. 2009-131, |
| 20 | Laws of Florida, to eliminate a conflicting version of s. |
| 21 | 201.15, F.S.; amending s. 420.0003, F.S.; including the |
| 22 | needs of persons with special needs in the state housing |
| 23 | strategy's periodic review and report; amending s. |
| 24 | 420.0004, F.S.; defining the terms "disabling condition" |
| 25 | and "person with special needs"; conforming cross- |
| 26 | references; amending s. 420.0006, F.S.; removing an |
| 27 | obsolete reference; deleting provisions requiring the |
| 28 | inspector general of the Department of Community Affairs |
| 29 | to perform functions for the corporation to conform to |
| 30 | changes made by the act; amending s. 420.504, F.S.; |
| 31 | authorizing the Secretary of Community Affairs to |
| 32 | designate a senior-level agency employee to serve on the |
| 33 | board of directors of the Florida Housing Finance |
| 34 | Corporation; amending s. 420.506, F.S.; providing for the |
| 35 | appointment of an inspector general of the Florida Housing |
| 36 | Finance Corporation; providing appointing authority |
| 37 | thereof; providing duties and responsibilities of the |
| 38 | inspector general; amending s. 420.507, F.S.; requiring |
| 39 | certain rates of interest to be made available to sponsors |
| 40 | of projects for persons with special needs; providing |
| 41 | additional powers of the corporation relating to receipt |
| 42 | of federal funds; revising powers of the corporation |
| 43 | relating to criteria establishing a preference for |
| 44 | eligible developers and general contractors; conforming a |
| 45 | cross-reference; amending s. 420.5087, F.S.; limiting the |
| 46 | reservation of funds within each notice of fund |
| 47 | availability to the persons with special needs tenant |
| 48 | group; including persons with special needs as a tenant |
| 49 | group for specified purposes of the State Apartment |
| 50 | Incentive Loan Program; revising and providing criteria to |
| 51 | be used by a specified review committee for the |
| 52 | competitive ranking of applications for such program; |
| 53 | conforming a cross-reference; amending ss. 163.31771, |
| 54 | 212.08, 215.5586, and 420.503, F.S.; conforming cross- |
| 55 | references; providing legislative intent; prohibiting |
| 56 | funds from the State Housing Trust Fund or the Local |
| 57 | Government Housing Trust Fund that are appropriated for |
| 58 | specified programs from being used for certain purposes; |
| 59 | providing for future repeal; providing an effective date. |
| 60 |
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| 61 | Be It Enacted by the Legislature of the State of Florida: |
| 62 |
|
| 63 | Section 1. Paragraphs (a) and (b) of subsection (1) and |
| 64 | subsection (7) of section 20.055, Florida Statutes, are amended |
| 65 | to read: |
| 66 | 20.055 Agency inspectors general.- |
| 67 | (1) For the purposes of this section: |
| 68 | (a) "State agency" means each department created pursuant |
| 69 | to this chapter, and also includes the Executive Office of the |
| 70 | Governor, the Department of Military Affairs, the Fish and |
| 71 | Wildlife Conservation Commission, the Office of Insurance |
| 72 | Regulation of the Financial Services Commission, the Office of |
| 73 | Financial Regulation of the Financial Services Commission, the |
| 74 | Public Service Commission, the Board of Governors of the State |
| 75 | University System, the Florida Housing Finance Corporation, and |
| 76 | the state courts system. |
| 77 | (b) "Agency head" means the Governor, a Cabinet officer, a |
| 78 | secretary as defined in s. 20.03(5), or an executive director as |
| 79 | defined in s. 20.03(6). It also includes the chair of the Public |
| 80 | Service Commission, the Director of the Office of Insurance |
| 81 | Regulation of the Financial Services Commission, the Director of |
| 82 | the Office of Financial Regulation of the Financial Services |
| 83 | Commission, the board of directors of the Florida Housing |
| 84 | Finance Corporation, and the Chief Justice of the State Supreme |
| 85 | Court. |
| 86 | (7)(a) Except as provided in paragraph (b), each inspector |
| 87 | general shall, not later than September 30 of each year, prepare |
| 88 | an annual report summarizing the activities of the office during |
| 89 | the immediately preceding state fiscal year. |
| 90 | (b) The inspector general of the Florida Housing Finance |
| 91 | Corporation shall, not later than 90 days after the end of each |
| 92 | fiscal year, prepare an annual report summarizing the activities |
| 93 | of the office of inspector general during the immediately |
| 94 | preceding fiscal year. |
| 95 | (c) The final reports prepared pursuant to paragraphs (a) |
| 96 | and (b) report shall be furnished to the heads of the respective |
| 97 | agencies agency head. Such report shall include, but need not be |
| 98 | limited to: |
| 99 | 1.(a) A description of activities relating to the |
| 100 | development, assessment, and validation of performance measures. |
| 101 | 2.(b) A description of significant abuses and deficiencies |
| 102 | relating to the administration of programs and operations of the |
| 103 | agency disclosed by investigations, audits, reviews, or other |
| 104 | activities during the reporting period. |
| 105 | 3.(c) A description of the recommendations for corrective |
| 106 | action made by the inspector general during the reporting period |
| 107 | with respect to significant problems, abuses, or deficiencies |
| 108 | identified. |
| 109 | 4.(d) The identification of each significant |
| 110 | recommendation described in previous annual reports on which |
| 111 | corrective action has not been completed. |
| 112 | 5.(e) A summary of each audit and investigation completed |
| 113 | during the reporting period. |
| 114 | Section 2. Subsection (11) is added to section 159.608, |
| 115 | Florida Statutes, to read: |
| 116 | 159.608 Powers of housing finance authorities.-A housing |
| 117 | finance authority shall constitute a public body corporate and |
| 118 | politic, exercising the public and essential governmental |
| 119 | functions set forth in this act, and shall exercise its power to |
| 120 | borrow only for the purpose as provided herein: |
| 121 | (11) To invest and reinvest surplus funds of the housing |
| 122 | finance authority in accordance with s. 218.415. However, in |
| 123 | addition to the investments expressly authorized in ss. |
| 124 | 218.415(16)(a)-(g) and (17)(a)-(d), a housing finance authority |
| 125 | may invest surplus funds in interest-bearing time deposits or |
| 126 | savings accounts that are fully insured by the Federal Deposit |
| 127 | Insurance Corporation regardless of whether the bank or |
| 128 | financial institution in which the deposit or investment is made |
| 129 | is a qualified public depository as defined in s. 280.02. This |
| 130 | subsection is supplementary to and may not be construed as |
| 131 | limiting any powers of a housing finance authority or providing |
| 132 | or implying a limiting construction of any other statutory |
| 133 | provision. |
| 134 | Section 3. Paragraph (f) of subsection (6) of section |
| 135 | 163.3177, Florida Statutes, is amended to read: |
| 136 | 163.3177 Required and optional elements of comprehensive |
| 137 | plan; studies and surveys.- |
| 138 | (6) In addition to the requirements of subsections (1)-(5) |
| 139 | and (12), the comprehensive plan shall include the following |
| 140 | elements: |
| 141 | (f)1. A housing element consisting of standards, plans, |
| 142 | and principles to be followed in: |
| 143 | a. The provision of housing for all current and |
| 144 | anticipated future residents of the jurisdiction. |
| 145 | b. The elimination of substandard dwelling conditions. |
| 146 | c. The structural and aesthetic improvement of existing |
| 147 | housing. |
| 148 | d. The provision of adequate sites for future housing, |
| 149 | including affordable workforce housing as defined in s. |
| 150 | 380.0651(3)(j), housing for low-income, very low-income, and |
| 151 | moderate-income families, mobile homes, and group home |
| 152 | facilities and foster care facilities, with supporting |
| 153 | infrastructure and public facilities. The element may include |
| 154 | provisions that specifically address affordable housing for |
| 155 | persons 60 years of age or older. Real property that is conveyed |
| 156 | to a local government for affordable housing under this sub- |
| 157 | subparagraph shall be disposed of by the local government |
| 158 | pursuant to s. 125.379 or s. 166.0451. |
| 159 | e. Provision for relocation housing and identification of |
| 160 | historically significant and other housing for purposes of |
| 161 | conservation, rehabilitation, or replacement. |
| 162 | f. The formulation of housing implementation programs. |
| 163 | g. The creation or preservation of affordable housing to |
| 164 | minimize the need for additional local services and avoid the |
| 165 | concentration of affordable housing units only in specific areas |
| 166 | of the jurisdiction. |
| 167 | h. Energy efficiency in the design and construction of new |
| 168 | housing. |
| 169 | i. Use of renewable energy resources. |
| 170 | j. Each county in which the gap between the buying power |
| 171 | of a family of four and the median county home sale price |
| 172 | exceeds $170,000, as determined by the Florida Housing Finance |
| 173 | Corporation, and which is not designated as an area of critical |
| 174 | state concern shall adopt a plan for ensuring affordable |
| 175 | workforce housing. At a minimum, the plan shall identify |
| 176 | adequate sites for such housing. For purposes of this sub- |
| 177 | subparagraph, the term "workforce housing" means housing that is |
| 178 | affordable to natural persons or families whose total household |
| 179 | income does not exceed 140 percent of the area median income, |
| 180 | adjusted for household size. |
| 181 | k. As a precondition to receiving any state affordable |
| 182 | housing funding or allocation for any project or program within |
| 183 | the jurisdiction of a county that is subject to sub-subparagraph |
| 184 | j., a county must, by July 1 of each year, provide certification |
| 185 | that the county has complied with the requirements of sub- |
| 186 | subparagraph j. |
| 187 |
|
| 188 | The goals, objectives, and policies of the housing element must |
| 189 | be based on the data and analysis prepared on housing needs, |
| 190 | including the affordable housing needs assessment. State and |
| 191 | federal housing plans prepared on behalf of the local government |
| 192 | must be consistent with the goals, objectives, and policies of |
| 193 | the housing element. Local governments are encouraged to use job |
| 194 | training, job creation, and economic solutions to address a |
| 195 | portion of their affordable housing concerns. |
| 196 | 2. To assist local governments in housing data collection |
| 197 | and analysis and assure uniform and consistent information |
| 198 | regarding the state's housing needs, the state land planning |
| 199 | agency shall conduct an affordable housing needs assessment for |
| 200 | all local jurisdictions on a schedule that coordinates the |
| 201 | implementation of the needs assessment with the evaluation and |
| 202 | appraisal reports required by s. 163.3191. Each local government |
| 203 | shall utilize the data and analysis from the needs assessment as |
| 204 | one basis for the housing element of its local comprehensive |
| 205 | plan. The agency shall allow a local government the option to |
| 206 | perform its own needs assessment, if it uses the methodology |
| 207 | established by the agency by rule. |
| 208 | Section 4. Subsections (9), (10), and (13) of section |
| 209 | 201.15, Florida Statutes, are amended to read: |
| 210 | 201.15 Distribution of taxes collected.-All taxes |
| 211 | collected under this chapter are subject to the service charge |
| 212 | imposed in s. 215.20(1). Prior to distribution under this |
| 213 | section, the Department of Revenue shall deduct amounts |
| 214 | necessary to pay the costs of the collection and enforcement of |
| 215 | the tax levied by this chapter. Such costs and the service |
| 216 | charge may not be levied against any portion of taxes pledged to |
| 217 | debt service on bonds to the extent that the costs and service |
| 218 | charge are required to pay any amounts relating to the bonds. |
| 219 | After distributions are made pursuant to subsection (1), all of |
| 220 | the costs of the collection and enforcement of the tax levied by |
| 221 | this chapter and the service charge shall be available and |
| 222 | transferred to the extent necessary to pay debt service and any |
| 223 | other amounts payable with respect to bonds authorized before |
| 224 | January 1, 2010, secured by revenues distributed pursuant to |
| 225 | subsection (1). All taxes remaining after deduction of costs and |
| 226 | the service charge shall be distributed as follows: |
| 227 | (9) Seven and fifty-three hundredths The lesser of 7.53 |
| 228 | percent of the remaining taxes or $107 million in each fiscal |
| 229 | year shall be paid into the State Treasury to the credit of the |
| 230 | State Housing Trust Fund and used as follows: |
| 231 | (a) Half of that amount shall be used for the purposes for |
| 232 | which the State Housing Trust Fund was created and exists by |
| 233 | law. |
| 234 | (b) Half of that amount shall be paid into the State |
| 235 | Treasury to the credit of the Local Government Housing Trust |
| 236 | Fund and used for the purposes for which the Local Government |
| 237 | Housing Trust Fund was created and exists by law. |
| 238 | (10) Eight and sixty-six hundredths The lesser of 8.66 |
| 239 | percent of the remaining taxes or $136 million in each fiscal |
| 240 | year shall be paid into the State Treasury to the credit of the |
| 241 | State Housing Trust Fund and used as follows: |
| 242 | (a) Twelve and one-half percent of that amount shall be |
| 243 | deposited into the State Housing Trust Fund and be expended by |
| 244 | the Department of Community Affairs and by the Florida Housing |
| 245 | Finance Corporation for the purposes for which the State Housing |
| 246 | Trust Fund was created and exists by law. |
| 247 | (b) Eighty-seven and one-half percent of that amount shall |
| 248 | be distributed to the Local Government Housing Trust Fund and |
| 249 | used for the purposes for which the Local Government Housing |
| 250 | Trust Fund was created and exists by law. Funds from this |
| 251 | category may also be used to provide for state and local |
| 252 | services to assist the homeless. |
| 253 | (13) In each fiscal year that the remaining taxes exceed |
| 254 | collections in the prior fiscal year, the stated maximum dollar |
| 255 | amounts provided in subsections (2), (4), (6), and (7), (9), and |
| 256 | (10) shall each be increased by an amount equal to 10 percent of |
| 257 | the increase in the remaining taxes collected under this chapter |
| 258 | multiplied by the applicable percentage provided in those |
| 259 | subsections. |
| 260 | Section 5. Section 8 of chapter 2009-131, Laws of Florida, |
| 261 | is repealed, retroactive to June 30, 2009. |
| 262 | Section 6. Paragraph (c) of subsection (4) of section |
| 263 | 420.0003, Florida Statutes, is amended to read: |
| 264 | 420.0003 State housing strategy.- |
| 265 | (4) IMPLEMENTATION.-The Department of Community Affairs |
| 266 | and the Florida Housing Finance Corporation in carrying out the |
| 267 | strategy articulated herein shall have the following duties: |
| 268 | (c) The Shimberg Center for Affordable Housing, in |
| 269 | consultation with the Department of Community Affairs and the |
| 270 | Florida Housing Finance Corporation, shall review and evaluate |
| 271 | existing housing rehabilitation, production, and finance |
| 272 | programs to determine their consistency with relevant policies |
| 273 | in this section and identify the needs of specific populations, |
| 274 | including, but not limited to, elderly persons, and handicapped |
| 275 | persons, and persons with special needs, and shall recommend |
| 276 | statutory modifications where appropriate. The Shimberg Center |
| 277 | for Affordable Housing, in consultation with the Department of |
| 278 | Community Affairs and the corporation, shall also evaluate the |
| 279 | degree of coordination between state housing programs, and |
| 280 | between state, federal, and local housing activities, and shall |
| 281 | recommend improved program linkages. The recommendations |
| 282 | required above and a report of any programmatic modifications |
| 283 | made as a result of these policies shall be included in the |
| 284 | housing report required by s. 420.6075, beginning December 31, |
| 285 | 1991, and every 5 years thereafter. |
| 286 | Section 7. Section 420.0004, Florida Statutes, is amended |
| 287 | to read: |
| 288 | 420.0004 Definitions.-As used in this part, unless the |
| 289 | context otherwise indicates: |
| 290 | (1) "Adjusted for family size" means adjusted in a manner |
| 291 | which results in an income eligibility level which is lower for |
| 292 | households with fewer than four people, or higher for households |
| 293 | with more than four people, than the base income eligibility |
| 294 | determined as provided in subsection (9) (8), subsection (11) |
| 295 | (10), subsection (12) (11), or subsection (17) (15), based upon |
| 296 | a formula as established by the United States Department of |
| 297 | Housing and Urban Development. |
| 298 | (2) "Adjusted gross income" means all wages, assets, |
| 299 | regular cash or noncash contributions or gifts from persons |
| 300 | outside the household, and such other resources and benefits as |
| 301 | may be determined to be income by the United States Department |
| 302 | of Housing and Urban Development, adjusted for family size, less |
| 303 | deductions allowable under s. 62 of the Internal Revenue Code. |
| 304 | (3) "Affordable" means that monthly rents or monthly |
| 305 | mortgage payments including taxes, insurance, and utilities do |
| 306 | not exceed 30 percent of that amount which represents the |
| 307 | percentage of the median adjusted gross annual income for the |
| 308 | households as indicated in subsection (9) (8), subsection (11) |
| 309 | (10), subsection (12) (11), or subsection (17) (15). |
| 310 | (4) "Corporation" means the Florida Housing Finance |
| 311 | Corporation. |
| 312 | (5) "Community-based organization" or "nonprofit |
| 313 | organization" means a private corporation organized under |
| 314 | chapter 617 to assist in the provision of housing and related |
| 315 | services on a not-for-profit basis and which is acceptable to |
| 316 | federal and state agencies and financial institutions as a |
| 317 | sponsor of low-income housing. |
| 318 | (6) "Department" means the Department of Community |
| 319 | Affairs. |
| 320 | (7) "Disabling condition" means a diagnosable substance |
| 321 | abuse disorder, serious mental illness, developmental |
| 322 | disability, or chronic physical illness or disability, or the |
| 323 | co-occurrence of two or more of these conditions, and a |
| 324 | determination that the condition is: |
| 325 | (a) Expected to be of long-continued and indefinite |
| 326 | duration; and |
| 327 | (b) Not expected to impair the ability of the person with |
| 328 | special needs to live independently with appropriate supports. |
| 329 | (8)(7) "Elderly" describes persons 62 years of age or |
| 330 | older. |
| 331 | (9)(8) "Extremely-low-income persons" means one or more |
| 332 | natural persons or a family whose total annual household income |
| 333 | does not exceed 30 percent of the median annual adjusted gross |
| 334 | income for households within the state. The Florida Housing |
| 335 | Finance Corporation may adjust this amount annually by rule to |
| 336 | provide that in lower income counties, extremely low income may |
| 337 | exceed 30 percent of area median income and that in higher |
| 338 | income counties, extremely low income may be less than 30 |
| 339 | percent of area median income. |
| 340 | (10)(9) "Local public body" means any county, |
| 341 | municipality, or other political subdivision, or any housing |
| 342 | authority as provided by chapter 421, which is eligible to |
| 343 | sponsor or develop housing for farmworkers and very-low-income |
| 344 | and low-income persons within its jurisdiction. |
| 345 | (11)(10) "Low-income persons" means one or more natural |
| 346 | persons or a family, the total annual adjusted gross household |
| 347 | income of which does not exceed 80 percent of the median annual |
| 348 | adjusted gross income for households within the state, or 80 |
| 349 | percent of the median annual adjusted gross income for |
| 350 | households within the metropolitan statistical area (MSA) or, if |
| 351 | not within an MSA, within the county in which the person or |
| 352 | family resides, whichever is greater. |
| 353 | (12)(11) "Moderate-income persons" means one or more |
| 354 | natural persons or a family, the total annual adjusted gross |
| 355 | household income of which is less than 120 percent of the median |
| 356 | annual adjusted gross income for households within the state, or |
| 357 | 120 percent of the median annual adjusted gross income for |
| 358 | households within the metropolitan statistical area (MSA) or, if |
| 359 | not within an MSA, within the county in which the person or |
| 360 | family resides, whichever is greater. |
| 361 | (13) "Person with special needs" means an adult person |
| 362 | requiring independent living services in order to maintain |
| 363 | housing or develop independent living skills and who has a |
| 364 | disabling condition; a young adult formerly in foster care who |
| 365 | is eligible for services under s. 409.1451(5); a survivor of |
| 366 | domestic violence as defined in s. 741.28; or a person receiving |
| 367 | benefits under the Social Security Disability Insurance (SSDI) |
| 368 | program or the Supplemental Security Income (SSI) program or |
| 369 | from veterans' disability benefits. |
| 370 | (14)(12) "Student" means any person not living with his or |
| 371 | her parent or guardian who is eligible to be claimed by his or |
| 372 | her parent or guardian as a dependent under the federal income |
| 373 | tax code and who is enrolled on at least a half-time basis in a |
| 374 | secondary school, career center, community college, college, or |
| 375 | university. |
| 376 | (15)(13) "Substandard" means: |
| 377 | (a) Any unit lacking complete plumbing or sanitary |
| 378 | facilities for the exclusive use of the occupants; |
| 379 | (b) A unit which is in violation of one or more major |
| 380 | sections of an applicable housing code and where such violation |
| 381 | poses a serious threat to the health of the occupant; or |
| 382 | (c) A unit that has been declared unfit for human |
| 383 | habitation but that could be rehabilitated for less than 50 |
| 384 | percent of the property value. |
| 385 | (16)(14) "Substantial rehabilitation" means repair or |
| 386 | restoration of a dwelling unit where the value of such repair or |
| 387 | restoration exceeds 40 percent of the value of the dwelling. |
| 388 | (17)(15) "Very-low-income persons" means one or more |
| 389 | natural persons or a family, not including students, the total |
| 390 | annual adjusted gross household income of which does not exceed |
| 391 | 50 percent of the median annual adjusted gross income for |
| 392 | households within the state, or 50 percent of the median annual |
| 393 | adjusted gross income for households within the metropolitan |
| 394 | statistical area (MSA) or, if not within an MSA, within the |
| 395 | county in which the person or family resides, whichever is |
| 396 | greater. |
| 397 | Section 8. Section 420.0006, Florida Statutes, is amended |
| 398 | to read: |
| 399 | 420.0006 Authority to contract with corporation; contract |
| 400 | requirements; nonperformance.-The secretary of the department |
| 401 | shall contract, notwithstanding the provisions of part I of |
| 402 | chapter 287, with the Florida Housing Finance Corporation on a |
| 403 | multiyear basis to stimulate, provide, and foster affordable |
| 404 | housing in the state. The contract must incorporate the |
| 405 | performance measures required by s. 420.511 and must be |
| 406 | consistent with the provisions of the corporation's strategic |
| 407 | plan prepared in accordance with s. 420.511 and compatible with |
| 408 | s. 216.0166. The contract must provide that, in the event the |
| 409 | corporation fails to comply with any of the performance measures |
| 410 | required by s. 420.511, the secretary shall notify the Governor |
| 411 | and shall refer the nonperformance to the department's inspector |
| 412 | general for review and determination as to whether such failure |
| 413 | is due to forces beyond the corporation's control or whether |
| 414 | such failure is due to inadequate management of the |
| 415 | corporation's resources. Advances shall continue to be made |
| 416 | pursuant to s. 420.0005 during the pendency of the review by the |
| 417 | department's inspector general. If such failure is due to |
| 418 | outside forces, it shall not be deemed a violation of the |
| 419 | contract. If such failure is due to inadequate management, the |
| 420 | department's inspector general shall provide recommendations |
| 421 | regarding solutions. The Governor is authorized to resolve any |
| 422 | differences of opinion with respect to performance under the |
| 423 | contract and may request that advances continue in the event of |
| 424 | a failure under the contract due to inadequate management. The |
| 425 | Chief Financial Officer shall approve the request absent a |
| 426 | finding by the Chief Financial Officer that continuing such |
| 427 | advances would adversely impact the state; however, in any event |
| 428 | the Chief Financial Officer shall provide advances sufficient to |
| 429 | meet the debt service requirements of the corporation and |
| 430 | sufficient to fund contracts committing funds from the State |
| 431 | Housing Trust Fund so long as such contracts are in accordance |
| 432 | with the laws of this state. The department inspector general |
| 433 | shall perform for the corporation the functions set forth in s. |
| 434 | 20.055 and report to the secretary of the department. The |
| 435 | corporation shall be deemed an agency for the purposes of s. |
| 436 | 20.055. |
| 437 | Section 9. Subsection (3) of section 420.504, Florida |
| 438 | Statutes, is amended to read: |
| 439 | 420.504 Public corporation; creation, membership, terms, |
| 440 | expenses.- |
| 441 | (3) The corporation is a separate budget entity and is not |
| 442 | subject to control, supervision, or direction by the Department |
| 443 | of Community Affairs in any manner, including, but not limited |
| 444 | to, personnel, purchasing, transactions involving real or |
| 445 | personal property, and budgetary matters. The corporation shall |
| 446 | consist of a board of directors composed of the Secretary of |
| 447 | Community Affairs as an ex officio and voting member, or a |
| 448 | senior-level agency employee designated by the secretary, and |
| 449 | eight members appointed by the Governor subject to confirmation |
| 450 | by the Senate from the following: |
| 451 | (a) One citizen actively engaged in the residential home |
| 452 | building industry. |
| 453 | (b) One citizen actively engaged in the banking or |
| 454 | mortgage banking industry. |
| 455 | (c) One citizen who is a representative of those areas of |
| 456 | labor engaged in home building. |
| 457 | (d) One citizen with experience in housing development who |
| 458 | is an advocate for low-income persons. |
| 459 | (e) One citizen actively engaged in the commercial |
| 460 | building industry. |
| 461 | (f) One citizen who is a former local government elected |
| 462 | official. |
| 463 | (g) Two citizens of the state who are not principally |
| 464 | employed as members or representatives of any of the groups |
| 465 | specified in paragraphs (a)-(f). |
| 466 | Section 10. Section 420.506, Florida Statutes, is amended |
| 467 | to read: |
| 468 | 420.506 Executive director; agents and employees; |
| 469 | inspector general.- |
| 470 | (1) The appointment and removal of an executive director |
| 471 | shall be by the Secretary of Community Affairs, with the advice |
| 472 | and consent of the corporation's board of directors. The |
| 473 | executive director shall employ legal and technical experts and |
| 474 | such other agents and employees, permanent and temporary, as the |
| 475 | corporation may require, and shall communicate with and provide |
| 476 | information to the Legislature with respect to the corporation's |
| 477 | activities. The board is authorized, notwithstanding the |
| 478 | provisions of s. 216.262, to develop and implement rules |
| 479 | regarding the employment of employees of the corporation and |
| 480 | service providers, including legal counsel. The board of |
| 481 | directors of the corporation is entitled to establish travel |
| 482 | procedures and guidelines for employees of the corporation. The |
| 483 | executive director's office and the corporation's files and |
| 484 | records must be located in Leon County. |
| 485 | (2) The appointment and removal of an inspector general |
| 486 | shall be by the executive director, with the advice and consent |
| 487 | of the corporation's board of directors. The corporation's |
| 488 | inspector general shall perform for the corporation the |
| 489 | functions set forth in s. 20.055. The inspector general shall |
| 490 | administratively report to the executive director. The inspector |
| 491 | general shall meet the minimum qualifications as set forth s. |
| 492 | 20.055(4). The corporation may establish additional |
| 493 | qualifications deemed necessary by the board of directors to |
| 494 | meet the unique needs of the corporation. The inspector general |
| 495 | shall be responsible for coordinating the responsibilities set |
| 496 | forth in s. 420.0006. |
| 497 | Section 11. Paragraph (a) of subsection (22) and |
| 498 | subsections (33), (46), and (47) of section 420.507, Florida |
| 499 | Statutes, are amended to read: |
| 500 | 420.507 Powers of the corporation.-The corporation shall |
| 501 | have all the powers necessary or convenient to carry out and |
| 502 | effectuate the purposes and provisions of this part, including |
| 503 | the following powers which are in addition to all other powers |
| 504 | granted by other provisions of this part: |
| 505 | (22) To develop and administer the State Apartment |
| 506 | Incentive Loan Program. In developing and administering that |
| 507 | program, the corporation may: |
| 508 | (a) Make first, second, and other subordinated mortgage |
| 509 | loans including variable or fixed rate loans subject to |
| 510 | contingent interest for all State Apartment Incentive Loans |
| 511 | provided in this chapter based upon available cash flow of the |
| 512 | projects. The corporation shall make loans exceeding 25 percent |
| 513 | of project cost only to nonprofit organizations and public |
| 514 | bodies that are able to secure grants, donations of land, or |
| 515 | contributions from other sources and to projects meeting the |
| 516 | criteria of subparagraph 1. Mortgage loans shall be made |
| 517 | available at the following rates of interest: |
| 518 | 1. Zero to 3 percent interest for sponsors of projects |
| 519 | that set aside at least 80 percent of their total units for |
| 520 | residents qualifying as farmworkers, commercial fishing workers, |
| 521 | or the homeless as defined in s. 420.621, or persons with |
| 522 | special needs as defined in s. 420.0004(13) over the life of the |
| 523 | loan. |
| 524 | 2. Zero to 3 percent interest based on the pro rata share |
| 525 | of units set aside for homeless residents or persons with |
| 526 | special needs if the total of such units is less than 80 percent |
| 527 | of the units in the borrower's project. |
| 528 | 3. One to 9 percent interest for sponsors of projects |
| 529 | targeted at populations other than farmworkers, commercial |
| 530 | fishing workers, or the homeless, or persons with special needs. |
| 531 | (33) To receive federal funding in connection with the |
| 532 | corporation's programs directly from the Federal Government and |
| 533 | to receive federal funds for which no corresponding program has |
| 534 | been created in statute and establish selection criteria for |
| 535 | such funds by request for proposals or other competitive |
| 536 | solicitation. |
| 537 | (46) To require, as a condition of financing a multifamily |
| 538 | rental project, that an agreement be recorded in the official |
| 539 | records of the county where the real property is located, which |
| 540 | requires that the project be used for housing defined as |
| 541 | affordable in s. 420.0004(3) by persons defined in s. |
| 542 | 420.0004(9)(8), (11)(10), (12)(11), and (17)(15). Such an |
| 543 | agreement is a state land use regulation that limits the highest |
| 544 | and best use of the property within the meaning of s. |
| 545 | 193.011(2). |
| 546 | (47) To provide by rule, in connection with any |
| 547 | corporation competitive program, criteria establishing, where |
| 548 | all other competitive elements are equal, a preference for |
| 549 | developers and general contractors who demonstrate the highest |
| 550 | rate of Florida job creation in the development and construction |
| 551 | of affordable housing domiciled in this state and for developers |
| 552 | and general contractors, regardless of domicile, who have |
| 553 | substantial experience in developing or building affordable |
| 554 | housing through the corporation's programs. |
| 555 | (a) In evaluating whether a developer or general |
| 556 | contractor is domiciled in this state, the corporation shall |
| 557 | consider whether the developer's or general contractor's |
| 558 | principal office is located in this state and whether a majority |
| 559 | of the developer's or general contractor's principals and |
| 560 | financial beneficiaries reside in Florida. |
| 561 | (b) In evaluating whether a developer or general |
| 562 | contractor has substantial experience, the corporation shall |
| 563 | consider whether the developer or general contractor has |
| 564 | completed at least five developments using funds either provided |
| 565 | by or administered by the corporation. |
| 566 | Section 12. Subsection (3) and paragraph (c) of subsection |
| 567 | (6) of section 420.5087, Florida Statutes, are amended to read: |
| 568 | 420.5087 State Apartment Incentive Loan Program.-There is |
| 569 | hereby created the State Apartment Incentive Loan Program for |
| 570 | the purpose of providing first, second, or other subordinated |
| 571 | mortgage loans or loan guarantees to sponsors, including for- |
| 572 | profit, nonprofit, and public entities, to provide housing |
| 573 | affordable to very-low-income persons. |
| 574 | (3) During the first 6 months of loan or loan guarantee |
| 575 | availability, program funds shall be reserved for use by |
| 576 | sponsors who provide the housing set-aside required in |
| 577 | subsection (2) for the tenant groups designated in this |
| 578 | subsection. The reservation of funds to each of these groups |
| 579 | shall be determined using the most recent statewide very-low- |
| 580 | income rental housing market study available at the time of |
| 581 | publication of each notice of fund availability required by |
| 582 | paragraph (6)(b). The reservation of funds within each notice of |
| 583 | fund availability to the tenant groups in paragraphs (a), (b), |
| 584 | and (e) (d) may not be less than 10 percent of the funds |
| 585 | available at that time. Any increase in funding required to |
| 586 | reach the 10-percent minimum must be taken from the tenant group |
| 587 | that has the largest reservation. The reservation of funds |
| 588 | within each notice of fund availability to the tenant group in |
| 589 | paragraph (c) may not be less than 5 percent of the funds |
| 590 | available at that time. The reservation of funds within each |
| 591 | notice of fund availability to the tenant group in paragraph (d) |
| 592 | may not be more than 10 percent of the funds available at that |
| 593 | time. The tenant groups are: |
| 594 | (a) Commercial fishing workers and farmworkers; |
| 595 | (b) Families; |
| 596 | (c) Persons who are homeless; |
| 597 | (d) Persons with special needs; and |
| 598 | (e)(d) Elderly persons. Ten percent of the amount reserved |
| 599 | for the elderly shall be reserved to provide loans to sponsors |
| 600 | of housing for the elderly for the purpose of making building |
| 601 | preservation, health, or sanitation repairs or improvements |
| 602 | which are required by federal, state, or local regulation or |
| 603 | code, or lifesafety or security-related repairs or improvements |
| 604 | to such housing. Such a loan may not exceed $750,000 per housing |
| 605 | community for the elderly. In order to receive the loan, the |
| 606 | sponsor of the housing community must make a commitment to match |
| 607 | at least 5 percent of the loan amount to pay the cost of such |
| 608 | repair or improvement. The corporation shall establish the rate |
| 609 | of interest on the loan, which may not exceed 3 percent, and the |
| 610 | term of the loan, which may not exceed 15 years; however, if the |
| 611 | lien of the corporation's encumbrance is subordinate to the lien |
| 612 | of another mortgagee, then the term may be made coterminous with |
| 613 | the longest term of the superior lien. The term of the loan |
| 614 | shall be based on a credit analysis of the applicant. The |
| 615 | corporation may forgive indebtedness for a share of the loan |
| 616 | attributable to the units in a project reserved for extremely- |
| 617 | low-income elderly by nonprofit organizations, as defined in s. |
| 618 | 420.0004(5), where the project has provided affordable housing |
| 619 | to the elderly for 15 years or more. The corporation shall |
| 620 | establish, by rule, the procedure and criteria for receiving, |
| 621 | evaluating, and competitively ranking all applications for loans |
| 622 | under this paragraph. A loan application must include evidence |
| 623 | of the first mortgagee's having reviewed and approved the |
| 624 | sponsor's intent to apply for a loan. A nonprofit organization |
| 625 | or sponsor may not use the proceeds of the loan to pay for |
| 626 | administrative costs, routine maintenance, or new construction. |
| 627 | (6) On all state apartment incentive loans, except loans |
| 628 | made to housing communities for the elderly to provide for |
| 629 | lifesafety, building preservation, health, sanitation, or |
| 630 | security-related repairs or improvements, the following |
| 631 | provisions shall apply: |
| 632 | (c) The corporation shall provide by rule for the |
| 633 | establishment of a review committee composed of the department |
| 634 | and corporation staff and shall establish by rule a scoring |
| 635 | system for evaluation and competitive ranking of applications |
| 636 | submitted in this program, including, but not limited to, the |
| 637 | following criteria: |
| 638 | 1. Tenant income and demographic targeting objectives of |
| 639 | the corporation. |
| 640 | 2. Targeting objectives of the corporation which will |
| 641 | ensure an equitable distribution of loans between rural and |
| 642 | urban areas. |
| 643 | 3. Sponsor's agreement to reserve the units for persons or |
| 644 | families who have incomes below 50 percent of the state or local |
| 645 | median income, whichever is higher, for a time period to exceed |
| 646 | the minimum required by federal law or the provisions of this |
| 647 | part. |
| 648 | 4. Sponsor's agreement to reserve more than: |
| 649 | a. Twenty percent of the units in the project for persons |
| 650 | or families who have incomes that do not exceed 50 percent of |
| 651 | the state or local median income, whichever is higher; or |
| 652 | b. Forty percent of the units in the project for persons |
| 653 | or families who have incomes that do not exceed 60 percent of |
| 654 | the state or local median income, whichever is higher, without |
| 655 | requiring a greater amount of the loans as provided in this |
| 656 | section. |
| 657 | 5. Provision for tenant counseling. |
| 658 | 6. Sponsor's agreement to accept rental assistance |
| 659 | certificates or vouchers as payment for rent. |
| 660 | 7. Projects requiring the least amount of a state |
| 661 | apartment incentive loan compared to overall project cost except |
| 662 | that the share of the loan attributable to units serving |
| 663 | extremely-low-income persons shall be excluded from this |
| 664 | requirement. |
| 665 | 8. Local government contributions and local government |
| 666 | comprehensive planning and activities that promote affordable |
| 667 | housing. |
| 668 | 9. Project feasibility. |
| 669 | 10. Economic viability of the project. |
| 670 | 11. Commitment of first mortgage financing. |
| 671 | 12. Sponsor's prior experience, including whether the |
| 672 | developer and general contractor have substantial experience, as |
| 673 | provided in s. 420.507(47). |
| 674 | 13. Sponsor's ability to proceed with construction. |
| 675 | 14. Projects that directly implement or assist welfare-to- |
| 676 | work transitioning. |
| 677 | 15. Projects that reserve units for extremely-low-income |
| 678 | persons. |
| 679 | 16. Projects that include green building principles, |
| 680 | storm-resistant construction, or other elements that reduce |
| 681 | long-term costs relating to maintenance, utilities, or |
| 682 | insurance. |
| 683 | 17. Job-creation rate Domicile of the developer and |
| 684 | general contractor, as provided in s. 420.507(47). |
| 685 | Section 13. Paragraphs (d), (e), (f), and (g) of |
| 686 | subsection (2) of section 163.31771, Florida Statutes, are |
| 687 | amended to read: |
| 688 | 163.31771 Accessory dwelling units.- |
| 689 | (2) As used in this section, the term: |
| 690 | (d) "Low-income persons" has the same meaning as in s. |
| 691 | 420.0004(11)(10). |
| 692 | (e) "Moderate-income persons" has the same meaning as in |
| 693 | s. 420.0004(12)(11). |
| 694 | (f) "Very-low-income persons" has the same meaning as in |
| 695 | s. 420.0004(17)(15). |
| 696 | (g) "Extremely-low-income persons" has the same meaning as |
| 697 | in s. 420.0004(9)(8). |
| 698 | Section 14. Paragraph (o) of subsection (5) of section |
| 699 | 212.08, Florida Statutes, is amended to read: |
| 700 | 212.08 Sales, rental, use, consumption, distribution, and |
| 701 | storage tax; specified exemptions.-The sale at retail, the |
| 702 | rental, the use, the consumption, the distribution, and the |
| 703 | storage to be used or consumed in this state of the following |
| 704 | are hereby specifically exempt from the tax imposed by this |
| 705 | chapter. |
| 706 | (5) EXEMPTIONS; ACCOUNT OF USE.- |
| 707 | (o) Building materials in redevelopment projects.- |
| 708 | 1. As used in this paragraph, the term: |
| 709 | a. "Building materials" means tangible personal property |
| 710 | that becomes a component part of a housing project or a mixed- |
| 711 | use project. |
| 712 | b. "Housing project" means the conversion of an existing |
| 713 | manufacturing or industrial building to housing units in an |
| 714 | urban high-crime area, enterprise zone, empowerment zone, Front |
| 715 | Porch Community, designated brownfield area, or urban infill |
| 716 | area and in which the developer agrees to set aside at least 20 |
| 717 | percent of the housing units in the project for low-income and |
| 718 | moderate-income persons or the construction in a designated |
| 719 | brownfield area of affordable housing for persons described in |
| 720 | s. 420.0004(9)(8), (11)(10), (12)(11), or (17)(15) or in s. |
| 721 | 159.603(7). |
| 722 | c. "Mixed-use project" means the conversion of an existing |
| 723 | manufacturing or industrial building to mixed-use units that |
| 724 | include artists' studios, art and entertainment services, or |
| 725 | other compatible uses. A mixed-use project must be located in an |
| 726 | urban high-crime area, enterprise zone, empowerment zone, Front |
| 727 | Porch Community, designated brownfield area, or urban infill |
| 728 | area, and the developer must agree to set aside at least 20 |
| 729 | percent of the square footage of the project for low-income and |
| 730 | moderate-income housing. |
| 731 | d. "Substantially completed" has the same meaning as |
| 732 | provided in s. 192.042(1). |
| 733 | 2. Building materials used in the construction of a |
| 734 | housing project or mixed-use project are exempt from the tax |
| 735 | imposed by this chapter upon an affirmative showing to the |
| 736 | satisfaction of the department that the requirements of this |
| 737 | paragraph have been met. This exemption inures to the owner |
| 738 | through a refund of previously paid taxes. To receive this |
| 739 | refund, the owner must file an application under oath with the |
| 740 | department which includes: |
| 741 | a. The name and address of the owner. |
| 742 | b. The address and assessment roll parcel number of the |
| 743 | project for which a refund is sought. |
| 744 | c. A copy of the building permit issued for the project. |
| 745 | d. A certification by the local building code inspector |
| 746 | that the project is substantially completed. |
| 747 | e. A sworn statement, under penalty of perjury, from the |
| 748 | general contractor licensed in this state with whom the owner |
| 749 | contracted to construct the project, which statement lists the |
| 750 | building materials used in the construction of the project and |
| 751 | the actual cost thereof, and the amount of sales tax paid on |
| 752 | these materials. If a general contractor was not used, the owner |
| 753 | shall provide this information in a sworn statement, under |
| 754 | penalty of perjury. Copies of invoices evidencing payment of |
| 755 | sales tax must be attached to the sworn statement. |
| 756 | 3. An application for a refund under this paragraph must |
| 757 | be submitted to the department within 6 months after the date |
| 758 | the project is deemed to be substantially completed by the local |
| 759 | building code inspector. Within 30 working days after receipt of |
| 760 | the application, the department shall determine if it meets the |
| 761 | requirements of this paragraph. A refund approved pursuant to |
| 762 | this paragraph shall be made within 30 days after formal |
| 763 | approval of the application by the department. |
| 764 | 4. The department shall establish by rule an application |
| 765 | form and criteria for establishing eligibility for exemption |
| 766 | under this paragraph. |
| 767 | 5. The exemption shall apply to purchases of materials on |
| 768 | or after July 1, 2000. |
| 769 | Section 15. Paragraphs (a) and (g) of subsection (2) of |
| 770 | section 215.5586, Florida Statutes, are amended to read: |
| 771 | 215.5586 My Safe Florida Home Program.-There is |
| 772 | established within the Department of Financial Services the My |
| 773 | Safe Florida Home Program. The department shall provide fiscal |
| 774 | accountability, contract management, and strategic leadership |
| 775 | for the program, consistent with this section. This section does |
| 776 | not create an entitlement for property owners or obligate the |
| 777 | state in any way to fund the inspection or retrofitting of |
| 778 | residential property in this state. Implementation of this |
| 779 | program is subject to annual legislative appropriations. It is |
| 780 | the intent of the Legislature that the My Safe Florida Home |
| 781 | Program provide trained and certified inspectors to perform |
| 782 | inspections for owners of site-built, single-family, residential |
| 783 | properties and grants to eligible applicants as funding allows. |
| 784 | The program shall develop and implement a comprehensive and |
| 785 | coordinated approach for hurricane damage mitigation that may |
| 786 | include the following: |
| 787 | (2) MITIGATION GRANTS.-Financial grants shall be used to |
| 788 | encourage single-family, site-built, owner-occupied, residential |
| 789 | property owners to retrofit their properties to make them less |
| 790 | vulnerable to hurricane damage. |
| 791 | (a) For a homeowner to be eligible for a grant, the |
| 792 | following criteria must be met: |
| 793 | 1. The homeowner must have been granted a homestead |
| 794 | exemption on the home under chapter 196. |
| 795 | 2. The home must be a dwelling with an insured value of |
| 796 | $300,000 or less. Homeowners who are low-income persons, as |
| 797 | defined in s. 420.0004(11)(10), are exempt from this |
| 798 | requirement. |
| 799 | 3. The home must have undergone an acceptable hurricane |
| 800 | mitigation inspection after May 1, 2007. |
| 801 | 4. The home must be located in the "wind-borne debris |
| 802 | region" as that term is defined in s. 1609.2, International |
| 803 | Building Code (2006), or as subsequently amended. |
| 804 | 5. The building permit application for initial |
| 805 | construction of the home must have been made before March 1, |
| 806 | 2002. |
| 807 |
|
| 808 | An application for a grant must contain a signed or |
| 809 | electronically verified statement made under penalty of perjury |
| 810 | that the applicant has submitted only a single application and |
| 811 | must have attached documents demonstrating the applicant meets |
| 812 | the requirements of this paragraph. |
| 813 | (g) Low-income homeowners, as defined in s. |
| 814 | 420.0004(11)(10), who otherwise meet the requirements of |
| 815 | paragraphs (a), (c), (e), and (f) are eligible for a grant of up |
| 816 | to $5,000 and are not required to provide a matching amount to |
| 817 | receive the grant. Additionally, for low-income homeowners, |
| 818 | grant funding may be used for repair to existing structures |
| 819 | leading to any of the mitigation improvements provided in |
| 820 | paragraph (e), limited to 20 percent of the grant value. The |
| 821 | program may accept a certification directly from a low-income |
| 822 | homeowner that the homeowner meets the requirements of s. |
| 823 | 420.0004(11)(10) if the homeowner provides such certification in |
| 824 | a signed or electronically verified statement made under penalty |
| 825 | of perjury. |
| 826 | Section 16. Subsection (19) of section 420.503, Florida |
| 827 | Statutes, is amended to read: |
| 828 | 420.503 Definitions.-As used in this part, the term: |
| 829 | (19) "Housing for the elderly" means, for purposes of s. |
| 830 | 420.5087(3)(e)(d), any nonprofit housing community that is |
| 831 | financed by a mortgage loan made or insured by the United States |
| 832 | Department of Housing and Urban Development under s. 202, s. 202 |
| 833 | with a s. 8 subsidy, s. 221(d)(3) or (4), or s. 236 of the |
| 834 | National Housing Act, as amended, and that is subject to income |
| 835 | limitations established by the United States Department of |
| 836 | Housing and Urban Development, or any program funded by the |
| 837 | Rural Development Agency of the United States Department of |
| 838 | Agriculture and subject to income limitations established by the |
| 839 | United States Department of Agriculture. A project which |
| 840 | qualifies for an exemption under the Fair Housing Act as housing |
| 841 | for older persons as defined by s. 760.29(4) shall qualify as |
| 842 | housing for the elderly for purposes of s. 420.5087(3)(e)(d) and |
| 843 | for purposes of any loans made pursuant to s. 420.508. In |
| 844 | addition, if the corporation adopts a qualified allocation plan |
| 845 | pursuant to s. 42(m)(1)(B) of the Internal Revenue Code or any |
| 846 | other rules that prioritize projects targeting the elderly for |
| 847 | purposes of allocating tax credits pursuant to s. 420.5099 or |
| 848 | for purposes of the HOME program under s. 420.5089, a project |
| 849 | which qualifies for an exemption under the Fair Housing Act as |
| 850 | housing for older persons as defined by s. 760.29(4) shall |
| 851 | qualify as a project targeted for the elderly, if the project |
| 852 | satisfies the other requirements set forth in this part. |
| 853 | Section 17. (1) The Legislature finds that due to the |
| 854 | current economic conditions in the housing market there is a |
| 855 | critical need to rehabilitate or sell excess inventory of unsold |
| 856 | homes, including foreclosed homes and newly constructed homes, |
| 857 | as well as a critical need for the rehabilitation and |
| 858 | preservation of older, affordable apartments. The Legislature |
| 859 | further finds that there is a critical need to create housing- |
| 860 | related jobs and that these conditions require the targeting of |
| 861 | state and local housing trust fund moneys to assist in the sale |
| 862 | or rehabilitation of existing homes and the preservation and |
| 863 | rehabilitation of older rental apartments. |
| 864 | (2) Notwithstanding ss. 420.507(22)(a) and (23)(a), |
| 865 | 420.5087(6)(l), 420.5088, 420.5095, and 420.9075(1)(b) and |
| 866 | (5)(b), Florida Statutes, funds from the State Housing Trust |
| 867 | Fund or the Local Government Housing Trust Fund that are |
| 868 | appropriated for use in the State Apartment Incentive Loan |
| 869 | Program, Florida Homeownership Assistance Program, Community |
| 870 | Workforce Housing Innovation Pilot Program, or the State Housing |
| 871 | Initiatives Partnership Program may not be used to: |
| 872 | (a) Finance or otherwise assist the construction or |
| 873 | purchase of housing sold to eligible individuals, unless the |
| 874 | housing unit being sold had an initial certificate of occupancy |
| 875 | prior to December 31, 2010; or |
| 876 | (b) Finance or otherwise assist in the construction or |
| 877 | purchase of rental housing, unless the development being |
| 878 | financed or assisted received its initial certificate of |
| 879 | occupancy prior to December 31, 1996. |
| 880 |
|
| 881 | Nothing in this section restricts the use of such funds to |
| 882 | assist with the purchase of newly constructed homes that were |
| 883 | completed prior to December 31, 2010, or the acquisition and |
| 884 | rehabilitation of apartments that received their initial |
| 885 | certificate of occupancy prior to December 31, 1996. The use of |
| 886 | such funds is subject to the restrictions of the program under |
| 887 | which the funding is made available. |
| 888 | (3) This section expires July 1, 2012. |
| 889 | Section 18. This act shall take effect July 1, 2011. |