SECTION 330:36-4-3. Fees

(a)   General. Application and TCA Fees will be used to support overall OAHTC Program delivery and operation activities. Fees are nonrefundable.

(1)   Application fees. All Applications will pay a $2,000 fee with each submission of an Application.

(2)   Allocation fee. A nonrefundable Allocation fee shall be paid in an amount equal to eleven percent (11%) of the total TCA, but in any event not less than $1,000.00. The Allocation fee is due within fourteen (14) calendar days of notification from OHFA of the approval of a TCA. A Carryover Allocation Agreement will not be executed, nor will Form 8609(s) be issued unless this fee has been received by OHFA. Nonpayment may result in revocation of Credits.

(3)   Processing fee. A nonrefundable processing fee of one percent (1%) of the TCA must accompany the request for a Final Allocation. Form 8609(s) will not be issued unless this fee has been received by OHFA.

(4)   Regulatory Agreement filing fee. An executed Regulatory Agreement must be submitted to OHFA, as part of the request for Final Allocation, and be accompanied by a check payable to the County Clerk of the county or counties in which the Development is located. The check or checks shall be in an amount sufficient to cover the filing fees of the county or counties.

(5)   Compliance monitoring fees. In addition to the documentation required by OHFA, an annual compliance monitoring fee shall be paid to OHFA. The compliance fee is payable on or before January 28th for each year during the Compliance Period and Extended Use Period subject to annual adjustment. If the Development includes scattered sites, a compliance monitoring fee for each site shall be paid to OHFA. If the compliance fee is not paid within thirty (30) calendar days of the Due Date, then a Late Fee will be assessed. The Late Fee is equal to twenty five percent (25%) of the compliance fee. Failure to remit timely payment of compliance monitoring fees may result in the filing by OHFA of a lien against the Development. The compliance monitoring fee shall be computed as follows:

(A)   For Developments financed by RHS under the Section 515 (and otherwise qualify under the Code) receiving a TCA in 2011 or before where an agreement has been entered into between OHFA and RHS wherein the RHS agrees to provide OHFA with the required information respecting the Income and rent of the tenants in the Development, the fee shall be $315.00 per Development per year, plus $14.00 per OAHTC unit per year within any Building within the Development;

(B)   For single site or contiguous site Developments of four units or less, the fee shall be $350.00 per Development per year.

(C)   For all other Developments including those financed by RHS under Section 515 receiving a TCA in 2012 or later the fee shall be $450.00 per Development, plus $23.00 per OAHTC unit per year within any Building within the Development.

(D)   Single-family homes or duplexes regardless if scattered or on the same tract of land $525.00 flat fee + $30.00 per unit.

(E)   Developments selecting Income Averaging as the Minimum-Set- Aside will have an additional flat fee of $150.00 in addition to the applicable items in (a-d) above.

(6)   Additional monitoring fees. In the event of noncompliance with the Code or Regulatory Agreement or these Chapter 36 Rules requiring OHFA to conduct an examination of the Owner, any Building within the Development or any documentation to verify correction of said noncompliance, OHFA shall be reimbursed its costs by the Development or Owner for such an examination, including an hourly rate for the OHFA examiner, not to exceed $35.00 per hour, plus any and all actual travel, lodging and per diem expenses of such examiner. Such reimbursement of expenses and costs shall be paid to OHFA within ten (10) calendar days of receipt of OHFA's statement of same.

(7)   Ownership/General Partner Transfer fee. In the event that the Owner submits a request for approval of a Transfer of Ownership/general partner of the Development or any of the Buildings therein, a nonrefundable fee of $7,500.00, shall be imposed to cover OHFA's costs of handling the request. This fee shall accompany the request. If additional transfers are submitted at the same time and are essentially the same parties involved, then each additional transfer will be $4,000.

(8)   Management Transfer fees. In the event that the Owner submits a request for approval of a Transfer of the management company of the Development, a $650.00 fee per Development shall be imposed to cover OHFA's costs of handling the request. This fee shall accompany the request and shall be nonrefundable.

(9)   Copies of Rules. Copies of these Chapter 36 Rules can be accessed via OHFA's website, www.ohfa.org. If a copy is requested, then a charge to defray production will be charged.

(10)   Qualified Contract fees. Submission deadlines for these fees will be established in the Qualified Contract Application (QCA) materials. Qualified Contract Preliminary Application (QCPA) fee shall be $1,500.00 and is nonrefundable. Additionally, the nonrefundable Qualified Contract Application fee shall be $12,500.00 plus any third party fees and expenses incurred by OHFA and not paid directly by the Applicant. Third party fees and expenses include but are not limited to appraisals for the entire property, market study, title reports, environmental reports, accountants review and reports, and legal services. This is not an all-inclusive listing. Any third party fees and expenses incurred by OHFA will be identified and Applicants will receive notice of the charge and reason.

(11)   Late fees. The Form 8609(s) will not be issued unless these fees have been received by OHFA.

(A)   Progress reports. Progress reports as required in 36-4-2.1 when filed late will be assessed a late fee of $10.00 per calendar day, per each late report.

(B)   Carryover Allocations. Owners who fail to timely file all requirements in the AP as to Agreement, Application, ten percent (10%) cost Certifications, opinions and documents shall incur $100.00 late fee per calendar day.

(C)   Final Allocations. Owners who fail to timely file all requirements in the AP as to the Regulatory Agreement, Application, cost Certifications, opinions and documents shall incur $100.00 late fee per calendar day.

(D)   Transfer Documents. Owners who fail to timely file all requirements in regard to the Transfer of Ownership or general partnership interest (or other type of entity) may incur $25.00 late fee per calendar day.

(E)   Acknowledgment of Placed-In-Service Form. Owners who fail to timely file an Acknowledgment of Placed-In-Service Form in accordance to timelines established in the AP shall incur $10 late fee per calendar day.

(F)   Annual Owner Certifications. Owners who fail to file a complete Annual Owner Certification as required in 36-6-7(c)(4) within thirty (30) days of the Due Date shall incur a $50 per Development late fee per calendar day for the signed certification and a $150 per unit late fee for failure to file in the electronic format prescribed by OHFA.

[Source: Amended and renumbered from 330:36-5-13 at 17 Ok Reg 1239, eff 10-1-00; Amended at 20 Ok Reg 2439, eff 1-1-04; Amended at 21 Ok Reg 2280, eff 1-2-05; Amended at 22 Ok Reg 2579, eff 1-2-06; Amended at 23 Ok Reg 2960, eff 1-2-07; Amended at 26 Ok Reg 2540, eff 1-1-10; Amended at 28 Ok Reg 1658, eff 1-1-12; Amended at 30 Ok Reg 1987, eff 1-1-14; Amended at 34 Ok Reg 1378, eff 1-1-18; Amended at 37 Ok Reg 1717, eff 1-1-21]