The first series, 2001G, are $3.3 million multifamily housingrevenue bonds. The second series, 2001H, are $1.1 million taxablemultifamily housing revenue bonds. Standard & Poor's says theoutlook on both series of bonds looks stable.

Both series of bonds involve Oak Glen Apartments. Oak Glen is anOrange County-based multifamily, affordable housing project. ForOak Glen, the single A rating reflects the guarantee of the FloridaHousing Finance Corp., acting through the Florida AffordableHousing Guarantee fund, that mortgage payments will be made to theproject owner, Oak Glen Housing Partners, Ltd., a limitedpartnership of Lennar Corp. and ENB Partners.

The Florida Affordable Housing Guarantee Fund is a $195 millioncash fund with additional revenues from a lien on the FloridaDocumentary Stamp Tax. The fund itself has a single-'A' rating fromS&P and $633 million of primarily mortgage guarantees from newaffordable multifamily projects in Florida. According to S&P,the fund has yet to incur any losses on guarantees.

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