Section 355.106  Fees and Charges

In connection with an Application, an Agency may collect a fee from the Applicant in an amount not to exceed $2,500, payable when the Application is submitted.  In connection with a Reservation, an Agency may collect a fee from the Applicant in an amount not to exceed 5% of the Reservation, payable by the due date specified in the Reservation Letter.  The Agency may assess a modification fee for changes in the Sponsor or owner, the name of the Sponsor or owner or the characteristics of a Project, such as unit type, distribution or population to be served in an amount not to exceed $1,500, payable when the request for a modification is submitted.  An Agency may assess a fee in connection with an extension of time to obtain a Donation, in accordance with Section 355.205 of this Part, in an amount not to exceed $1,500, payable when the request for an extension is submitted.  An Agency may assess a fee in connection with a request to increase the amount of the Affordable Housing Tax Credits in an amount not to exceed $1,500, payable when the request for an extension is submitted, plus an amount not to exceed 5% of the Reservation associated with the increase in the amount of Affordable Housing Tax Credits, payable by the due date specified in the Reservation Letter.  An Agency may assess an annual compliance fee in amounts not to exceed: $125 for Projects containing one to 10 affordable Units per year; $250 for Projects containing 11 to 19 affordable Units per year; and $20 per affordable Unit per year for Projects containing 20 or more affordable Units per year.  All compliance fees are payable as determined by the Agency.  Applicants and Sponsors shall pay an Agency in advance for expenses related to any third party studies, including but not limited to appraisals, in connection with an Application for Affordable Housing Tax Credits.

(Source:  Amended at 34 Ill. Reg. 15822, effective September 28, 2010)