Amendments to Rules pertaining to fees for administration of loan programs and certain other municipally-aided projects
Proposed Rules: Closed to Comments
STATEMENT OF BASIS AND PURPOSE
The proposed rule amends the Department of Housing Preservation and Development's (HPD) rules relating to administration of loan programs and certain other municipality aided projects. Pursuant to New York City Charter §1802 and various federal and state statutes, HPD is empowered to perform a wide range of functions relating to both private and City-owned real property. HPD is authorized to charge and collect fees in relation to such functions. The proposed amendment increases the mortgage refinance fee to better reflect the cost to the agency of providing this service.