Florida § 420.527 Criteria for determining threshold compliance

Florida Statutes

§ 420.527 — Criteria for determining threshold compliance

Florida § 420.527

TitleXXX

Ch. 420HOUSING

This text of Florida § 420.527 (Criteria for determining threshold compliance) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 420.527 (2026).

Text

(1)The corporation shall establish the criteria for determining threshold compliance with corporation objectives. Final decisions regarding funding shall be approved by the corporation board. The corporation board shall determine the tentative loan or grant amount available to each program participant. The actual loan or grant amount shall be determined pursuant to rule specifying credit underwriting procedures.

(2)The criteria to be used to determine threshold compliance shall include, but are not limited to, the following:

(a)Income target objectives of the corporation.

(b)Sponsor’s agreement to reserve more than the minimum number of units for low-income households and very-low-income households.

(c)Projects requiring the least amount of predevelopment funds compared to total pred

Free access — add to your briefcase to read the full text and ask questions with AI

(1) The corporation shall establish the criteria for determining threshold compliance with corporation objectives. Final decisions regarding funding shall be approved by the corporation board. The corporation board shall determine the tentative loan or grant amount available to each program participant. The actual loan or grant amount shall be determined pursuant to rule specifying credit underwriting procedures.

(2) The criteria to be used to determine threshold compliance shall include, but are not limited to, the following: (a) Income target objectives of the corporation. (b) Sponsor’s agreement to reserve more than the minimum number of units for low-income households and very-low-income households. (c) Projects requiring the least amount of predevelopment funds compared to total predevelopment costs. (d) Sponsor’s prior experience. (e) Commitments of other financing. (f) Sponsor’s ability to proceed. (g) Project’s consistency with the local government comprehensive plan.