1. (a) A developers' fee may be established at up to 10% of the total development cost, less the cost of land, or $100,000, whichever is less. (See fee schedule on following page)
2. (b) The fee schedule shall be determined as follows: Percent of FeeKey Event10%Preliminary Application15%Final Application25%Construction Start50%Construction Completion
3. (c) Developer's fees are earned based on the schedule established for completing key events in the development process, as approved by the Commissioner.
4. (d) Developers shall only earn a fee for those key events that are completed according to the established schedule. Developers may not be entitled to earn a fee for key events completed after the established schedule. Developers shall earn, but not receive, any fee, until completion of the housing development.

(Effective December 27, 1990)