Section 260.108  Fees and Charges of the Authority

The Authority may establish and collect a Commitment Fee from each HomeBuilder submitting a HomeBuilder Application in an amount not greater than three percent (3%) of the HomeBuilder Reservation in such amount as the Authority may deem appropriate.  The Authority shall return any Commitment Fee to any HomeBuilder with which it does not enter into a HomeBuilder Participation Agreement. The Authority may establish such other charges, premiums and penalties as it may deem necessary to administer the Program after consideration of such factors as, including but not limited to, financing requirements of the Program, preferences of bond rating agencies, earnings and arbitrage limitations established by federal or State law and other financial factors relevant to the Program.