New York Codes, Rules and Regulations
Title 18 - DEPARTMENT OF SOCIAL SERVICES
Chapter II - Regulations of the Department of Social Services
Subchapter C - Social Services
Article 7 - Certificates of Incorporation; Miscellaneous Corporate Matters
Part 484 - Development And Improvement Of Community Facilities
Section 484.1 - Fees and charges in connection with mortgage financing

(a) An eligible borrower which has obtained a mortgage loan from the New York State Housing Finance Agency under the provisions of title 5-A of article 6 of the Social Services Law, or a community senior citizens center and services company which has obtained a mortgage loan from the New York State Housing Finance Agency under the provisions of article VII-A of the Private Housing Finance Law to finance all or any part of a youth facilities project or senior citizens center project shall pay the charges due the department in accordance with this Part to cover the reasonable costs of services rendered by the department, including inspection, regulation, supervision and audit.

(b) For the purposes of this Part:

(c) The charge for services rendered during the development period shall be one percent of the mortgage loan as of the date of the mortgage closing. Such charge shall be payable to the department by the eligible borrower upon requisition on or after the closing of said mortgage.

(d) The charge for services rendered during the operational period shall be one and one-half tenths of one percent per annum of the amount of the mortgage loan as of the occupancy date. Such charge shall be payable monthly to the Department of Social Services by the eligible borrower on the first day of the month following the aforesaid occupancy date and on the first day of each and every succeeding month until said mortgage is paid.