4900.2904 Fees


Published: 2015

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4900.2904 FEES.


§
Subpart 1.

Property management fees.

Property management fees may be disbursed at the greater of $150 per building or a rate of:

§
A.

$40 per unit per month for buildings containing ten or fewer units;


§
B.

$30 per unit per month for buildings containing 11 to 20 units; or


§
C.

$25 per unit per month for buildings containing 21 or more units.



§
Subp. 2.

Supplemental management fees.

Supplemental management fees for coordination of repairs and bids may be disbursed in an amount equal to the greater of $1,000 or:

§
A.

ten percent of repairs totaling $50,000 or less; plus


§
B.

eight percent of repairs over $50,000 and up to $100,000; plus


§
C.

six percent of repairs over $100,000 and up to $250,000; plus


§
D.

four percent of repairs over $250,000.
The schedule in items A to D reflects maximum loan amounts. Administrators are not precluded from expending additional fees from rent, other loans, or revenues from the property.
In the event there is no progress in the court-ordered repairs, improvements, or alterations for any six-month period, the agency may, in its sole option and discretion, terminate any future disbursements of any and all remaining undisbursed loan proceeds.