Florida § 159.8061 - Affordable housing allocation pools.

§ 159.8061. Affordable housing allocation pools.

(1)(a) The following affordable housing allocation pools are hereby established: 1. The regional affordable housing allocation pool. 2. The statewide affordable housing allocation pool. (b) The affordable housing allocation pools are available solely for issuing confirmations for affordable housing bonds pursuant to the procedures specified in this section and s. 159.8052. (2)(a) From January 1 through May 31 of each year, the allocation made pursuant to s. 159.8041(2)(a) must be allocated to the regional affordable housing allocation pool and distributed among the regions established in paragraph (b). The allocation distributed to each region must be available solely to issue confirmations for affordable housing bonds to issuers located within such region on a first-come, first-served basis for projects located within such region. The amount of volume limitation distributed to each region within the regional affordable housing allocation pool must be an amount proportional to the ratio of the population of the region to the total population of this state. (b) The following regions are established within the regional affordable housing allocation pool for the purposes of this allocation: 1. Region 1, consisting of Bay, Calhoun, Columbia, Dixie, Escambia, Franklin, Gadsden, Gilchrist, Gulf, Hamilton, Holmes, Jackson, Jefferson, Lafayette, Leon, Liberty, Madison, Okaloosa, Santa Rosa, Suwannee, Taylor, Wakulla, Walton, and Washington Counties. 2. Region 2, consisting of Alachua, Baker, Bradford, Clay, Flagler, Nassau, Putnam, St. Johns, and Union Counties. 3. Region 3, consisting of Duval County. 4. Region 4, consisting of Citrus, Hernando, Levy, Marion, and Pasco Counties. 5. Region 5, consisting of Pinellas County. 6. Region 6, consisting of Hardee, Lake, Manatee, Polk, and Sumter Counties. 7. Region 7, consisting of Osceola and Seminole Counties. 8. Region 8, consisting of Orange County. 9. Region 9, consisting of Brevard, Glades, Highlands, Indian River, Martin, Okeechobee, St. Lucie, and Volusia Counties. 10. Region 10, consisting of Hillsborough County. 11. Region 11, consisting of Charlotte, Collier, DeSoto, Hendry, Lee, Monroe, and Sarasota Counties. 12. Region 12, consisting of Palm Beach County. 13. Region 13, consisting of Broward County. 14. Region 14, consisting of Miami-Dade County. (3) On June 1 of each year, any portion of the allocation made to the regional affordable allocation pool pursuant to subsection (2) for which the division has not issued a confirmation must be added to the statewide affordable housing allocation pool. On and after June 1 of each year, any portion of such allocation for which a confirmation is relinquished by the issuer receiving such allocation before the expiration thereof must be added to the statewide affordable housing allocation pool. (4) From June 1 through September 30 of each year, the statewide affordable housing allocation pool must be available for issuing confirmations for affordable housing bonds to issuers statewide as provided in this subsection. (a) On June 1 of each year, if a sufficient amount of state volume limitation is available in the statewide affordable housing allocation pool, the division must issue confirmations for all notices of intent to issue previously placed on the pending list for the regional affordable housing pool pursuant to s. 159.8052(1)(b) during such year. After confirmations have been issued for all notices of intent to issue previously placed on the pending list for the regional affordable housing pool pursuant to s. 159.8052(1)(b), the statewide affordable housing allocation pool must be available to issue confirmations on a first-come, first-served basis. Notwithstanding s. 159.8052(1)(c), if the amount of state volume limitation available in the statewide affordable housing allocation pool is insufficient to issue a confirmation for each such notice of intent to issue, the division must issue confirmations in the priority order established in paragraph (b). (b) If the division determines that the aggregate amount requested in the notices of intent to issue placed on the pending list for the regional affordable housing pool pursuant to s. 159.8052(1)(b) during such year exceeds the state volume limitation available in the statewide affordable housing allocation pool on June 1, the division must issue confirmations for any such notices of intent to issue for multifamily affordable housing bonds in the priority order established in this paragraph, and then, subject to the availability of state volume limitation, must issue confirmations for any such notices of intent to issue for single-family affordable housing bonds in the priority order established in this paragraph until the available state volume limitation is exhausted. In establishing the priority of each such notice of intent, the division shall first assign a consecutive number to each such notice of intent to issue for multifamily affordable housing bonds and draw such numbers randomly to establish the priority of each such notice of intent to issue. The division shall assign a consecutive number to each such notice of intent to issue for single-family affordable housing bonds and draw such numbers randomly to establish the priority of each such notice of intent to issue.