420.5091 HOPE Program. - Florida Statutes

420.5091 HOPE Program.

   (1) The corporation may adopt rules to implement the HOPE Program, created by the 1990 National Affordable Housing Act, to make loans and grants, foreclose on any mortgage or security interest, or commence any legal action to protect the interest of the corporation and recover the amount of the unpaid principal, accrued interest, and fees. The corporation may acquire real and personal property or any interest in the property if that acquisition is necessary to protect any loan; sell, transfer, and convey any such property to a buyer without regard to the provisions of chapters 253 and 270; and, if that sale, transfer, or conveyance cannot be effected within a reasonable time, lease such property for occupancy by eligible persons. All sums recovered from the sale, transfer, conveyance, or lease of such property shall be deposited into the HOME Investment Partnership Fund.

   (2) The corporation shall monitor all projects funded under this section to ensure compliance with federal and state requirements. The corporation may inspect such projects or records pertaining to those projects at any reasonable time.

History. s. 25, ch. 92-317; s. 17, ch. 97-167.