Applications and Fees

Manufacturing

Applicants of the Manufacturing Facility Program, also known as IDB (Industrial Development Bonds) or IRB (Industrial Revenue Bonds), are manufacturing companies who are interested in expanding their businesses. 

Exempt Facilities

Applicants of the Exempt Facility Program are for certain types of facilities that serve the general public (airports, mass commuting, water and sewer, furnishing of electricity or gas, etc.) that are interested in developing or expanding their business. 

Application Submission Requirements for Manufacturing and Exempt Facilities

  • Two (2) paper copies (one original and one copy) in separate 3-ring binders with all exhibits.
  • Applications must be copied one-sided only and in color.
  • The binder must be able to adequately hold the application and exhibits with room to turn pages easily.
  • Label the front and side of the binders with the project name.
  • One (1) electronic copy of the application only, e-mailed to Jess Peterson at jesspeterson@utah.gov
  • All copies must be submitted to our office by the specified deadline for the meeting you wish your project to be reviewed by the Board. 
  • Submit appropriate application fee with application.  (See bottom of this page.)
  • Please send all copies of the application and the application fee made payable to “Private Activity Bond Authority” to:
    Jess Peterson, Program Manager
    Private Activity Bond Authority Program
    1385 South State Street- Suite 400
    Salt Lake City, UT  84115

Applications may be disqualified for any of the following reasons:

  • Not received by the submission deadline.
  • Incomplete application.
  • No application fee submitted with application.

Multi-Family Housing

Developers wishing to apply for Private Activity Bond (PAB) Volume Cap to help finance their multi-family housing projects must submit their information on the consolidated multi-family housing application used jointly by PAB, Utah Housing Corporation and the Olene Walker Housing Loan Fund.  All applications must meet the same criteria of the Low-Income Housing Tax Credit (LIHTC) Program administered by Utah Housing Corporation [https://utahhousingcorp.org/HTML/multifamily.shtml], as outlined in the State of Utah Federal Housing Credit Program Allocation Plan.

For more detailed information regarding multi-family housing bonds, please view the links below.

To obtain the Excel® “Consolidated Application Form”, contact David Seely at (801)902-8246 or by e-mail – dseely@uthc.org.

For questions regarding the application, contact Claudia O’Grady at cogrady@uthc.org or call (801) 902-8200.

Application Submission Requirements for Multi-Family

  • Two (2) paper copies (one original and one copy) in separate 3-ring binders with all exhibits. A complete application contains the Excel “Consolidated Application Form” and all required exhibits, documentation, attachments, exhibits, etc., as outlined in the QAP.
  • The “Consolidated Application Form” must be copied one-sided only and in color.
  • The binder must be able to adequately hold the application and exhibits with room to turn pages easily.
  • Label the front and side of the binders with the project name.
  • One (1) electronic copy of the application only, e-mailed to Jess Peterson at jesspeterson@utah.gov.  
  • All copies must be submitted to our office by the specified deadline for the meeting you wish your project to be reviewed by the Board. 
  • Submit appropriate application fee with application. 
  • Please send all copies of the application and the application fee made payable to “Private Activity Bond Authority” to:
    Jess Peterson, Program Manager
    Private Activity Bond Authority Program
    1385 South State Street - Suite 400
    Salt Lake City, UT  84115

Applications may be disqualified for any of the following reasons:

  • Not received by the submission deadline.
  • Incomplete application.
  • No application fee submitted with application.

Single Family Housing

The only applicant for the Single Family Housing Program is Utah Housing Corporation.  For a description of this program click on the link below.  For additional information, please contact Pamela Shinsel at pshinsel@uthc.org or call (801) 902-8200.

Student Loan

The only applicant for the Student Loan Program is the Utah State Board of Regents, also known as the Utah Higher Education Assistance Authority (UHEAA).  For a description of this program click on the link below. For additional information, please contact UHEAA at uheaa@utahsbr.edu or call (801) 321-7200.

Fee Structure for Applications and Extensions

Listed below is the approved fee structure for all Private Activity Bond and Qualified Energy Conservation Bond Program applications reviewed and approved by the Private Activity Bond Authority Review Board.  All fees are non-refundable.  

Application Fees

Application fees are due at the time of application submission for review and approval by the Board.  Omission of fees will render applications incomplete and subject to disqualification.

The Application Resubmission Fee only applies to projects that were previously submitted, approved and received an allocation of volume cap, but were not able to issue the bonds.  Resubmitted applications must be the same exact one that was previously approved.  Any changes to the application, including the amount of volume cap requested, will be considered “First Time” applications.

Application Amount

First Time Application Fee

Application Resubmission Fee

Under $3,000,000

$1,500

$750

$3,000,000 – $5,000,000

$2,000

$1,000

Over $5,000,000

$3,000

$1,500 

Confirmation Fees

A confirmation fee is charged for all applications approved by the PAB Review Board for an allocation of volume cap.  Applicants will be invoiced within five (5) business days after the Board Meeting in which the approval was granted.  Confirmation Fees are due within 10 days of invoice receipt.

Confirmation Fee

$300 per Million Dollars of Volume Cap Received

Allocation Period

Each Certificate of Allocation is valid for a period of 90 days or until the next PAB Board Meeting.  If the bonds for the approved allocation are not issued within the 90-day period, the certificate becomes void.  The applicant can request an extension, which will give them another 90-day period to close the bonds; however, if no extension is requested, the volume cap is automatically relinquished back to the PAB Board.

Extension Requests

Applicants who are not able to close their bonds during the initial 90-day period may request an extension from the Board. Learn more. [link to policies page]

Extension Fee Schedule (effective May 10, 2016)

Extension Request

Fee

1st 90-day period

No Charge

2nd 90-day period

$2,000

3rd 90-day period

$4,000

Any Additional Extension

$4,000 for each 90-day period

Please note the following items in regards to Certificate Extensions and Expiration Dates:

  • PAB Manufacturing projects are not eligible for CarryForward allocation (allowing your volume cap allocation to be carried over to the new calendar year).  Bonds must close by the third Saturday in December of the same year in which the project was approved by the Board.  Any volume cap not issued by this date is automatically relinquished back to the PAB Review Board.
  • Certificates issued for extensions on multi-family projects in the October Board Meeting are only good until the December Board Meeting, due to the program running on a calendar year basis.
  • Extension certificates for multi-family projects issued in the December Meeting are valid until the April Board Meeting of the following year.  They do not come up for extension renewal in the January Board Meeting.  This will only apply as long as the issuer of the bonds has CarryForward authority.  If the issuer does not have this authority, then the bonds must close by the third Saturday in December of the same year in which the applicant received the allocation; otherwise, the volume cap will automatically relinquish back to the PAB Review Board.
  • Learn more about Extension Requirements for Applicants Issued CarryForward Certificates of Allocation [link to Policies page]