67-58.040, F.A.C.
67-58.040. Sale or Transfer of a Project
Cite as Fla. Admin. Code r. 67-58.040
The CWHIP loan shall be assumable upon sale or transfer of the Project if the following conditions are met:
(1) The proposed transferee agrees to maintain all set-asides and other requirements of the CWHIP loan for the period originally specified or longer; and,
(2) The proposed transferee and release of transferor receives a favorable recommendation from the Credit Underwriter as satisfying the criteria stated in the Credit Underwriter’s report; meeting the stated purposes of the Corporation; complying with all legal requirements of the Corporation; and subject to approval by the Board.