Compensation of management agent (Repealed)

(a) The management agent shall be compensated for performance of its responsibilities under the management agreement in amounts approved in advance by CHFA based on the following criteria: (1) whether the housing project is a family or an elderly development; (2) the number of family units and the number of elderly units in the housing project; (3) the number of subsidized units and the number of non-subsidized units; (4) whether the housing project is to be located on urban, suburban, or rural site; and (5) whether the housing project is solely rental and if related facilities are provided. (b) In consideration of such compensation, the management agent shall be responsible for the following: (1) the cost of hiring, orienting, and supervising all personnel employed on behalf of the project; (2) salary and related payroll costs (including transportation costs) of all personnel employed on behalf of the project except (A) on-site management personnel approved in the management agreement and (B) project maintenance and janitorial employees approved in the management plan; (3) rent and utilities necessary to operate off-site offices, unless specified by CHFA; (4) costs (including payroll and related expenses and computer service charges and administrative costs as defined by CHFA) necessary to prepare and maintain (A) tenant applications, leases, and occupancy files, (B) maintenance records, and (C) financial and subsidy reports required under the management agreement and any subsidy contracts except the cost of certified annual financial statements and audits prepared by an independent CPA; (5) payroll and related costs (including transportation costs) paid to supervisory management personnel; (6) costs of required fidelity bonds or "employee dishonesty insurance" covering all employees other than on-site maintenance and janitorial personnel; and (7) cost of purchasing or renting office equipment, supplies, stationery, forms, and postage charges except as approved by CHFA.