Conn. Agencies Regs. § 8-218c-31 - Terms and conditions

(a) A developers' fee shall be 10% of the project cost.

(b) The developer's fee shall be paid based on the following:

(1) Determine an annual developer's fee by dividing the total fee by the duration of the project;

(2) Twenty-five percent of the annual fee shall be paid to the developer on contract execution;

(3) The balance of the fee shall be paid in quarterly installments, upon submission by the developer of a payment request and evidence of successful project performance as determined by the commissioner.

Notes

Conn. Agencies Regs. § 8-218c-31

Effective July 24, 1996