New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4207 - Industrial Effectiveness Program-fees
Section 4207.4 - Administrative fee
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 4207.4
Current through Register Vol. 46, No. 12, March 20, 2024
The UDC shall assess an administrative fee of up to 1.5 percent of the project loan payable by the borrower at closing. The UDC may allocate the administrative fee to cover project-related expenses it deems appropriate. In addition, the borrower will be obligated to pay for all expenses related to the project loan, including but not limited to expenses related to appraisals, surveys, title insurance and other requirements deemed appropriate by the UDC.
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