The Florida Senate

290.035  Eligibility for assistance.--Community development corporations meeting the following requirements shall be eligible for assistance:

(1)  The community development corporation must be a nonprofit corporation under state law or a local development company established under state law and certified to be eligible to participate in the Small Business Administration Loan Program under s. 502 of the Small Business Investment Act of 1958, as amended, and must meet the following further requirements:

(a)  Its membership must be open to all service area residents 18 years of age or older.

(b)  A majority of its board members must be elected by those members of the corporation who are service area residents.

(c)  Elections must be held annually for at least a third of the elected board members so that elected members serve terms of no more than 3 years.

(d)  Elections must be adequately publicized within the service area, and ample opportunity must be provided for full participation.

(e)  At least one of the board members shall be appointed by the Governor.

(2)  The community development corporation shall maintain a service area in which economic development projects are located which meets one or more of the following criteria:

(a)  The area has been designated pursuant to s. 163.355 as a slum area or a blighted area as defined in s. 163.340(7) or (8) or is located completely within the boundaries of a slum or blighted area.

(b)  The area is a community development block grant program area in which community development block grant funds are currently being spent or have been spent during the last 3 years as certified by the local government in which the service area is located.

(c)  The area is a neighborhood housing service district.

(d)  The area is contained within an enterprise zone designated pursuant to s. 290.0065.

(3)  This section shall stand repealed on June 30, 1998.

History.--s. 6, ch. 80-250; s. 182, ch. 81-259; s. 11, ch. 82-119; s. 137, ch. 83-217; s. 3, ch. 84-240; s. 43, ch. 88-201; s. 11, ch. 91-262; s. 39, ch. 94-136.

Note.--Former s. 288.606.