Conn. Agencies Regs. § 8-79a-11

Current through December 27, 2024

Section 8-79a-11 - Management by developers

The developer of a moderate rental housing project shall manage the project in an efficient manner so that the rents can be fixed at the lowest possible level consistent with the provision of decent, safe and sanitary dwelling units.

The rental charges together with other available income shall generate sufficient income to meet the costs of project operation, including but not limited to:

(a) Property taxes or payment in lieu of taxes,

(b) Principal and interest on notes issued by a housing authority,

(c) Principal and interest on any loans received under section 8-70, of the Connecticut General Statutes and these regulations,

(d) The cost of a state service charge, and

(e) The cost of operating and maintaining the project including its administrative costs, and provision of reasonable reserves for repairs, maintenance and replacements, and vacancy and collections losses.

Conn. Agencies Regs. § 8-79a-11

Effective April 21, 1986