Department of Neighborhood Development
Housing Policy --- Section 5-3
DEVELOPER FEE: AT-RISK POLICY
This policy is created to ensure that developers assume risk for their developments.
PolicyThe Fee, as determined by the Fee and Overhead Formula, is at-risk from the date of DND's commitment throughout the project developments. Subsequent increases in development costs or decreases in other funding sources will be covered through a reduction in the amount of the Payable Fee.
After construction loan closing, increases in hard costs and or/soft costs will be covered first from their respective contingencies, then from the developer fee.
Housing Policies Table of Contents