N.Y. Comp. Codes R. & Regs. tit. 14 § 621.12

Current through Register Vol. 46, No. 50, December 11, 2024

Section 621.12 - Fees and charges in connection with a Facilities Development Corporation loan

(a)Charges for development period. The charge payable to OPWDD by the voluntary agency for services rendered in connection with an FDC mortgage loan from the inception of the project to, but not including, the initial occupancy date, shall be. 9 of one percent of the loan, payable on requisition on the date of the mortgage closing.

(b)Charges for operational period. The charge payable to OPWDD by the voluntary agency during the period from the occupancy date to the end of the loan term shall be an annual charge of.2 of one percent of the mortgage loan, payable on a monthly or other periodic basis pursuant to an assignment which shall be required from the voluntary agency to OPWDD to be made in the format prescribed by the commissioner. For facilities for which the voluntary agency receives reimbursement rates or fees as a result of services rendered to OPWDD and/or the New York State Medicaid program, such assignment may require the annual charge to be paid from the periodic payment of the voluntary agency's rate or fee reimbursement.

(c)MCFFA charges other than annual administrative charges. The charges imposed by MCFFA due to its cost and expenses in connection with the issuance of bonds and notes to finance the facility shall be payable to OPWDD by the voluntary agency on requisition on the date of the mortgage closing.

(d)MCFFA annual administrative charges. The annual administrative charges imposed by MCFFA shall be payable to OPWDD by the voluntary agency from the date of the mortgage loan closing, on a monthly or other periodic basis pursuant to an assignment which shall be required from the voluntary agency to OPWDD to be made in the format prescribed by the Commissioner. For facilities for which the voluntary agency receives reimbursement rates or fees as a result of services rendered to OPWDD and/or the New York State Medicaid program, such assignment may require the annual charge to be paid from the periodic payment of the voluntary agency's rate or fee reimbursement.

N.Y. Comp. Codes R. & Regs. Tit. 14 § 621.12

Amended New York State Register September 21, 2016/Volume XXXVIII, Issue 38, eff. 9/21/2016

Amended New York State Register June 16, 2021/Volume XLIII, Issue 24, eff. 6/16/2021