Take notice that the New Jersey Housing and Mortgage Finance Agency (Agency), pursuant to N.J.A.C. 5:80-31.3(f), has determined the annual increase in the overall Consumer Price Index for New York-Newark-Jersey City, as published by the United States Department of Labor, Bureau of Labor Statistics, as of September 30, 2022, to be 6.2 percent. Accordingly, the Agency is hereby changing, effective January 1, 2023, the maximum fees that can be paid from project funds for Agency-approved attorney services, as set forth at N.J.A.C. 5:80-31.3(a).

Full text of the changed rule follows (additions indicated in boldface thus; deletions indicated in brackets [thus]):

1.     General legal matters ... up to [$218.00/hour] $232.00/hour;

i. For each of the first two cases (requiring court appearance) on the same day ... up to [$172.00] $183.00;

ii. For each additional case presented on the same day ... up to [$128.00] $136.00; and

iii. For each case prepared for trial but resolved prior to actual court appearance ... up to [$88.00] $93.00; and

i. Non-trial hours ... up to [$303.00/hour] $322.00/hour; and

ii. Trial hours ... up to [$348.00/hour] $370.00/hour.

Please do not hesitate to contact our office with any inquiries regarding this announcement. Please email Lavern Henry at LHenry@njhmfa.gov for further assistance.

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