F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
HB 1467 2024
1 A bill to be entitled
2 An act relating to affordable housing; creating s.
3 166.0452, F.S.; providing definitions; authorizing
4 municipalities to create community land bank programs
5 for a certain purpose; requiring certain
6 municipalities to develop and annually adopt a
7 community land bank plan; providing requirements for
8 such plan; requiring a public hearing on the proposed
9 plan before its adoption; requiring notice to certain
10 entities; requiring the proposed plan to be made
11 public within a certain timeframe before the public
12 hearing; providing requirements for the sale of
13 certain property to land banks; providing that such
14 sale is for a public purpose; prohibiting certain
15 persons from challenging the market value of a
16 property under certain circumstances; requiring
17 written notice of a sale of such property to be
18 provided to certain persons in a certain manner within
19 a specified timeframe; authorizing the owner of
20 certain property to contest the sale of such property
21 and requiring such property to be sold in a different
22 manner; specifying that the owner of certain property
23 is not entitled to proceeds from the sale and is not
24 liable for certain deficiencies; authorizing land
25 banks to buy certain property for less than market
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26 value under certain circumstances; conveying the
27 right, title, and interest in certain property to land
28 banks; requiring land banks to offer qualified
29 organizations a right of first refusal to purchase
30 certain property; providing requirements for the right
31 of first refusal; providing conditions for the
32 subsequent resale of property acquired by land banks;
33 requiring certain deed restrictions on certain
34 property; providing requirements for such deed
35 restrictions; authorizing the modification of or
36 addition to deed restrictions; requiring land banks to
37 maintain certain records; requiring land banks to file
38 annual audited financial statements within a certain
39 timeframe; requiring land banks to submit an annual
40 performance report to the municipality by a certain
41 date; providing requirements for such report;
42 requiring copies of such report to be provided to
43 certain entities and made available for public review;
44 providing applicability; creating s. 220.1851, F.S.;
45 providing definitions; authorizing a tax credit for
46 certain projects; providing the maximum value of such
47 credit; authorizing the Florida Housing Finance
48 Corporation to allocate the tax credit among certain
49 projects; authorizing the tax credit to be transferred
50 by the recipient; requiring the Department of Revenue
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51 to adopt rules; creating s. 420.50931, F.S.; creating
52 the Retail-to-residence Tax Credit Program for a
53 certain purpose; requiring the Florida Housing Finance
54 Corporation to determine which projects are eligible
55 for the tax credit; requiring the corporation to
56 establish and adopt certain procedures and to prep are
57 a specified annual plan; requiring such plan to be
58 approved by the Governor; authorizing the corporation
59 to exercise certain powers; requiring the board of
60 directors of the corporation to administer certain
61 procedures and determine allocations on behalf of the
62 corporation; providing requirements for certain
63 procedures; requiring taxpayers to submit an
64 application with certain information to the
65 corporation; authorizing the corporation to request
66 additional information; providing requirements for the
67 approval of an application for a project; creating s.
68 420.5098, F.S.; creating the Affordable Housing
69 Construction Loan Program for a certain purpose;
70 providing the corporation with certain powers and
71 responsibilities relating to the program; providing
72 requirements for the program; providing rulemaking
73 authority; providing an effective date.
74
75 Be It Enacted by the Legislature of the State of Florida:
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76
77 Section 1. Section 166.0452, Florida Statutes, is created
78 to read:
79 166.0452 Community Land Bank Program.—
80 (1) For purposes of this section, the term:
81 (a) "Affordable" has the same meaning as in s. 420.0004.
82 (b) "Community housing development organization" has the
83 same meaning as in s. 420.503.
84 (c) "Community land bank plan" or "plan" means a plan
85 adopted by the governing body of a municipality to implement a
86 community land bank program.
87 (d) "Community land bank program" or "program" means the
88 program created by a governing body of a municipality under this
89 section.
90 (e) "Land bank" means an entity established or approved by
91 the governing body of a municipality for the purpose of
92 acquiring, holding, and transferring unimproved real property
93 under this section.
94 (f) "Low-income household" has the same meaning as in s.
95 420.9071.
96 (g) "Qualified organization" means a community housing
97 development organization that meets all of the following
98 criteria:
99 1. Contains within its designated geographical boundaries
100 of operation, as set forth in its application for certification
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101 filed with and approved by the municipality, a portion of the
102 property that a land bank is offering for sale.
103 2. Has built at least three single-family homes or
104 duplexes or one multifamily residential dwelling of four or more
105 housing units in compliance with all applicable buildin g codes
106 within the preceding 2-year period and within the organization's
107 designated geographical boundaries of operation.
108 3. Has developed or rehabilitated housing units within the
109 preceding 3-year period which are within a 2-mile radius of the
110 property that a land bank is offering for sale.
111 (h) "Qualified participating developer" means a developer
112 that meets all of the following criteria:
113 1. Has developed three or more housing units within the 3 -
114 year period preceding its submission of a proposal to t he land
115 bank seeking to acquire real property from a land bank.
116 2. Has a development plan approved by the governing body
117 of the municipality for the property acquired from a land bank.
118 3. Any other requirements adopted by the governing body of
119 the municipality in its community land bank plan.
120
121 The term includes a qualified organization.
122 (i) "Very-low-income household" has the same meaning as in
123 s. 420.9071.
124 (2) The governing body of a municipality may create a
125 community land bank program in which the person charged with
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126 selling real property pursuant to a foreclosure judgment may
127 sell certain eligible real property by private sale for purposes
128 of affordable housing developments. The governing body of a
129 municipality that adopts a community land bank program shall
130 establish or approve a land bank for the purpose of acquiring,
131 holding, and transferring unimproved real property under this
132 section.
133 (3)(a) The governing body of a municipality that creates a
134 community land bank program shall operate the program in
135 conformance with a community land bank plan that the
136 municipality adopts annually. The plan may be amended as needed.
137 (b) In developing the plan, the governing body of a
138 municipality shall consider other housing plans adopted by the
139 governing body, including the comprehensive plan submitted to
140 the United States Department of Housing and Urban Development
141 and all fair housing plans and policies adopted or agreed to by
142 the governing body.
143 (c) The plan must include, at a minimum, all of the
144 following:
145 1. A list of community housing development organizations
146 eligible to participate in the right of first refusal under
147 subsection (6). The plan must also include the time period
148 during which the right of first refusal may be exercised, which
149 time period must be at least 9 months but not more than 26
150 months after the date of the deed of conveyance of the property
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151 to the land bank.
152 2. A right of first refusal for any other nonprofit
153 corporation exempted from federal income tax under s. 501(c)(3)
154 of the United States Internal Revenue Code, provided that the
155 preeminent right of first refusal is provided to qualified
156 organizations as provided in subsection (6).
157 3. A list of the parcels of real property that may be
158 eligible for sale to the land bank during the next year.
159 4. The municipality's plan for the development of
160 affordable housing on those parcels of real property.
161 5. The sources and amounts of money the municipality
162 anticipates to be available for subsidies for the development of
163 affordable housing in the municipality, including any money
164 specifically available for housing developed under the program,
165 as approved by the governing body of the municipality at the
166 time the plan is adopted.
167 6. The amount of additional time, if any, that a property
168 may be held in the land bank once an offer has been received
169 from a qualified participating developer and accepted by the
170 land bank.
171 (4)(a) Before the adoption of a plan, the governing body
172 of a municipality must hold a public hearing on the proposed
173 plan.
174 (b) The city manager or his or her designee must provide
175 notice of the public hearing to all community housing
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176 development organizations and to the neighborhood associations
177 identified by the governing body of the municipality as serving
178 the neighborhoods in which properties anticipated to be
179 available for sale to the land bank under this section are
180 located.
181 (c) The city manager or his or her designee must make
182 copies of the proposed plan available to the public at least 60
183 days before the date of the public hearing.
184 (5)(a) Except as provided in paragraph (f), property that
185 is ordered sold pursuant to a foreclosure judgment may be sold
186 in a private sale to a land bank by the person charged with the
187 sale of the property without first offering the property for
188 sale as otherwise provided in chapter 45 if all of the following
189 apply:
190 1. The market value of the property as specified in the
191 judgment of foreclosure is less than the total amount due under
192 the judgment, including all taxes, penalties, and interest, plus
193 the value of nontax liens held by a taxing unit and awarded by
194 the judgment, court costs, and the cost of the sale.
195 2. The property is not improved with a building or
196 buildings.
197 3. There are delinquent taxes on the property for a total
198 of at least 5 years.
199 4. The governing body of the municipality has executed an
200 interlocal agreement with the other taxing units that are
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201 parties to the foreclosure proceeding which enables those taxing
202 units to agree to participate in the program while retaining the
203 right to withhold consent to the sale of the specific properties
204 to the land bank.
205 (b) A sale of property for use in connection with the
206 program is a sale for a public purpose.
207 (c) If the person being sued in a foreclosure proceeding
208 does not contest the market value of the property in the
209 proceeding, the person waives the right to challenge the amount
210 of the market value determined by the court for purposes of the
211 sale of the property under s. 45.031.
212 (d) For any sale of property under this section, the
213 person charged with the sale of the property must provide each
214 person who was a defendant to the judgment, or that person's
215 attorney, written notice at least 90 days before the date of the
216 sale of the propose