NSP FAQ
Q

What kinds of third-party fees are considered eligible development costs in NSP?

Date Published: October 2012

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A

The following third-party fees are eligible for reimbursement by NSP from the acquisition phase to the disposition phase:
 

  • Broker Fees (as long as they are reasonable)
  • Property Management fees (that are properly documented and connected to an eligible NSP property from the time of acquisition to either sale/disposition of a property or placing a rental development “in service,” management fees cannot be charged as a fixed fee if the NSP grantee or a subrecipient is providing property management services)
  • Homeowners Association fees
  • Legal Counsel fees (development/soft costs that are associated with acquisition and disposition. Probate and foreclosure action legal fees are ineligible)
  • Special Assessment fees (as long as the NSP entity is not reimbursing itself with the funds)
  • Design Fees (the fee should be reasonable and customary for the scope of work)
  • Impact Fees (should be included in the construction cost)
  • Realtor Fees (as long as they are reasonable. This should be included in the maximum sales price of the home and be paid out at closing).

Tags: NSP Program Requirements - Eligible Costs

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FAQ ID:

624