New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 80 - NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY
Subchapter 31 - ATTORNEY SERVICES
Section 5:80-31.3 - Maximum fees

Universal Citation: NJ Admin Code 5:80-31.3

Current through Register Vol. 56, No. 18, September 16, 2024

(a) The maximum fees that can be paid from project funds for Agency-approved attorney services are as follows:

1. General legal matters . . . up to $ 241.00 /hour;

2. Tenancy actions, as follows:
i. For each of the first two cases (requiring court appearance) on the same day . . . up to $ 190.00;

ii. For each additional case presented on the same day . . . up to $ 141.00; and

iii. For each case prepared for trial but resolved prior to actual court appearance . . . up to $ 96.00; and

3. General litigation, as follows:
i. Non-trial hours . . . up to $ 334.00/hour; and

ii. Trial hours . . . up to $ 384.00/hour.

(b) For conversion closing, mortgage close-outs, special expertise and all other matters not covered by (a) above, housing sponsors shall submit a fee structure to the Agency for approval.

(c) Paralegal and secretarial services in connection with (a) and (b) above shall be included within the fees outlined above. No additional fees will be paid for paralegal or secretarial services.

(d) Additional compensation may be paid for reasonable out-of-pocket expenses, approved by the Agency, including copying, travel, postage, filing fees, transcripts, and expert witnesses, etc.

(e) The above fees may not exceed fees charged to other clients for comparable work.

(f) The maximum fees in (a) above will be adjusted annually based on the overall Consumer Price Index for New York-Newark-Jersey City, NY-NJ-PA as published by the United States Department of Labor, Bureau of Labor Statistics as of September 30 of the year preceding the year for which the adjustment is to be implemented. The increases will be effected through a notice of administrative changes published in the New Jersey Register. The Agency will notify housing sponsors of the new rates.

Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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