TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY
PART 310 MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM
SECTION 310.604 COST OF SERVICES
Section 310.604 Cost of Services
The Owner shall not pay more for administrative, operating and maintenance expenses than is reasonable given the location and size of the Development, the level of administration, operation and maintenance required by the applicable Rules, the requirements of the Regulatory Agreement or other Mortgage Loan documents, the requirements of the marketing plan, management plan, and Tenant Selection Plan, the uniqueness or quality of available services or supplies, the presence of an emergency or other time constraint, the creditworthiness of suppliers and contractors and any other relevant factors. The Owner shall solicit bids for certain contracts in accordance with Authority agreements.
(Source: Amended at 31 Ill. Reg. 4392, effective February 28, 2007)