As used in ss. 420.630-420.635:
- (1) "Authority" or "housing authority" means any of the public corporations created under s. 421.04.
- (2) "Department" means the Department of Community Affairs.
- (3) "Homestead agreement" means a written contract between a local government or its designee and a qualified buyer which contains the terms under which the qualified buyer may acquire a single-family housing property.
- (4) "Local government" means any county or incorporated municipality within this state.
- (5) "Designee" means a housing authority appointed by a local government, or a nonprofit community organization appointed by a local government, to administer the urban homesteading program for single-family housing under ss. 420.630-420.635.
- (6) "Nonprofit community organization" means an organization that is exempt from taxation under s. 501(c)(3) of the Internal Revenue Code.
- (7) "Office" means the Office of Urban Opportunity within the Office of Tourism, Trade, and Economic Development.
- (8) "Qualified buyer" means a person who meets the criteria under s. 420.633.
- (9) "Qualified loan rate" means an interest rate that does not exceed the interest rate charged for home improvement loans by the Federal Housing Administration under Title I of the National Housing Act, ch. 847, 48 Stat. 1246, or 12 U.S.C. ss. 1702, 1703, 1705, and 1706b et seq.
History.--s. 23, ch. 99-378.