Oklahoma Administrative Code › Title 330 - Oklahoma Housing Finance Agency › Chapter 36 - Affordable Housing Tax Credit Program › Subchapter 4 - Development Applications and Selection › Section 330:36-4-3 - Fees

Current through Vol. 41, No. 20, July 1, 2024
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.