1. (a) General. The Applicant will be assessed charges for the purpose of recovering administrative costs of all projects receiving CWSRF financial assistance. However, no fees or costs shall be assessed on the portion of the project that receives subsidization through loan forgiveness or other subsidies as detailed in the IUP.
2. (b) Loan origination fee. A loan origination fee equal to 1.85% of the project costs will be assessed, as a one-time non-refundable charge. Project costs upon which the fee will be assessed do not include the origination fee or those project costs that are funded through loan forgiveness. The fee is due and payable at the time of loan closing and may be financed as a part of the financial assistance.

Source Note:The provisions of this §375.16 adopted to be effective September 8, 2010, 35 TexReg 8126; amended to be effective July 30, 2012, 37 TexReg 5615.