New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4244 - Metropolitan Economic Revitalization Program
Section 4244.12 - Fees

Current through Register Vol. 44, No. 38, September 21, 2022

(a) A nonrefundable application fee of $250 must be paid to the corporation before final review of an application can be completed.

(b) The corporation will assess an administrative fee of up to two percent of the project loan payable upon acceptance of commitment with one percent rebated at closing. The corporation may allocate the administrative fee to cover project-related expenses it deems appropriate. The applicant may be obligated to pay for expenses incurred by the corporation and related to the project, including, but not limited to, expenses related to appraisals, surveys, title insurance credit searches, filing fees, public hearing expenses and other requirements deemed appropriate by the corporation.

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