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Florida Administrative Code
Department 67 - FLORIDA HOUSING FINANCE CORPORATIONDivision 67 - DepartmentalChapter 67-48 - COMPETITIVE AFFORDABLE MULTIFAMILY RENTAL HOUSING PROGRAMS SAIL/HOME/HC
Part I - ADMINISTRATION
Section 67-48.007 - Fees

Fla. Admin. Code R. 67-48.007

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Current through Reg. 50, No. 124; June 25, 2024
Section 67-48.007 - Fees

The Corporation, the Credit Underwriter or the environmental provider shall collect via check, money order, or as otherwise provided in a competitive solicitation the following non-refundable fees and charges in conjunction with the SAIL, HOME, and HC Programs, as outlined in the competitive solicitation, the invitation to enter credit underwriting, the Preliminary Allocation, the preliminary commitment, the firm commitment, the Binding Commitment, the Carryover Allocation Agreement, or this rule chapter, as applicable:

(1) Application fee.
(2) Credit Underwriting fees.
(3) Administrative fees.
(4) Commitment fees.
(5) Compliance monitoring fees.
(6) Loan servicing fees.
(7) Construction inspection fees.
(8) Financial monitoring fees.
(9) Tax-exempt mortgage financing fees.
(10) HUD environmental fees.
(11) Qualified Contract Package fees.
(12) Assumption/Renegotiation fees.
(13) Loan closing extension fees.
(14) Processing fees.
(15) Preliminary Recommendation Letter (PRL) fee.

All of the fees set forth above with respect to the SAIL Program are part of Development Cost and can be included in the Development Cost pro forma and paid with SAIL loan proceeds. Failure to pay any fee associated with any applicable loan program shall cause the firm loan commitment under any such loan program(s) to be terminated or shall constitute a default on the respective loan documents. Failure to pay any fee associated with a Housing Credit Allocation shall cause the Housing Credit Allocation to be rescinded. Where a Development has been awarded funding under a loan program(s) and a Housing Credit Allocation, failure to pay any fee associated with either the loan(s) or Housing Credits, or both, shall result in both the termination or default, as applicable, of the loan(s) and rescission of the Housing Credit Allocation.

Fla. Admin. Code Ann. R. 67-48.007

Rulemaking Authority 420.507, 420.508 FS. Law Implemented 420.5087, 420.5099 FS.

New 7-22-96, Amended 12-23-96, 1-6-98, Formerly 9I-48.007, Amended 11-9-98, 2-24-00, 2-22-01, 3-17-02, 4-6-03, Repromulgated 3-21-04, Amended 2-7-05, 1-29-06, 4-1-07, Repromulgated 3-30-08, Amended 8-6-09, 11-22-11, 10-9-13, Amended by Florida Register Volume 40, Number 185, September 23, 2014 effective 10/8/2014, Repromulgated by Florida Register Volume 42, Number 169, August 30, 2016 effective 9/15/2016, Amended by Florida Register Volume 43, Number 090, May 9, 2017 effective 5/24/2017, Amended by Florida Register Volume 44, Number 124, June 26, 2018 effective 7/8/2018, Amended by Florida Register Volume 45, Number 123, June 25, 2019 effective 7/11/2019, Amended by Florida Register Volume 46, Number 112, June 9, 2020 effective 6/23/2020, Repromulgated by Florida Register Volume 47, Number 086, May 4, 2021 effective 5/18/2021, Amended by Florida Register Volume 48, Number 120, June 21, 2022 effective 7/6/2022, Repromulgated by Florida Register Volume 49, Number 114, June 13, 2023 effective 6/28/2023.

New 7-22-96, Amended 12-23-96, 1-6-98, Formerly 9I-48.007, Amended 11-9-98, 2-24-00, 2-22-01, 3-17-02, 4-6-03, Repromulgated 3-21-04, Amended 2-7-05, 1-29-06, 4-1-07, Repromulgated 3-30-08, Amended 8-6-09, 11-22-11, 10-9-13, 10-8-14, Repromulgated 9-15-16, 5-24-17, 7-8-18, 7-11-19, 6-23-20, 5-18-21, Amended 7-6-22, Repromulgated 6-28-23