eLaws of Florida

  SECTION 420.527. Criteria for determining threshold compliance.  


Latest version.
  • 1(1) 2The 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.
    58(2) 59The criteria to be used to determine threshold compliance shall include, but are not limited to, the following:
    77(a) 78Income target objectives of the corporation.
    84(b) 85Sponsor’s agreement to reserve more than the minimum number of units for low-income households and very-low-income households.
    102(c) 103Projects requiring the least amount of predevelopment funds compared to total predevelopment costs.
    116(d) 117Sponsor’s prior experience.
    120(e) 121Commitments of other financing.
    125(f) 126Sponsor’s ability to proceed.
    130(g) 131Project’s consistency with the local government comprehensive plan.
History.-s. 13, ch. 88-376; s. 15, ch. 92-317; s. 17, ch. 93-181; s. 29, ch. 97-167; s. 6, ch. 2002-160; s. 33, ch. 2015-4.

Note

Note.-Former s. 420.309.