Subcommittee endorses 10% minimum deferred developer fee at application
Staff recommended and the subcommittee signaled consensus for a minimum 10% deferred developer fee at application for AHSP-supported development projects; staff emphasized the floor would be dollar-for-dollar matched against later offsets.
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Staff proposed requiring developers to commit to a minimum 10% deferred developer fee at the time of application to better match expectations at contract and to free county funds when deferred fees are subsequently reduced. Jonathan (speaker 3) said the minimum would be applied at application and that any later reduction in the deferred developer fee due to other funding sources would reduce the county’s loan commitment dollar for dollar.
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