Applicants of this program are usually developers who are interested in building or rehabilitating multi-family apartments, which have a large percentage of affordable units compared to market rate units.

There is a cap of $12,000,000 for each allocation request.

This application has been combined with the Utah Housing Corporation Low Income Tax Housing Credit 4% (LITHC)application. All construction costs and expenses must be detailed. Be sure to complete the "Multi-Family Bond" section of the application to avoid delays in the application process or the possibility of not being reviewed due to an incomplete application. Please visit the Utah Housing Corporation website at www.utahhousingcorp.org for additional information or you may contact UHC directly at (801) 902-8200. Any questions regarding the bond portion of the application, please contact Roxanne C. Graham at (801) 538-8699 or at roxanneg@utah.gov.

Applicants must submit three (3) paper copies of the application, two (2) electronic copies on a CD and the appropriate fees (one fee for the Private Activity Bond Authority and one fee for the Utah Housing Corporation) on or before the deadline for the upcoming board meeting. Each application is thoroughly reviewed by an analyst and staff before it is submitted for approval to the Private Activity Bond Review Board. Missing information or fees may delay the application process and/or approval.

Manufacturing

Applicants of the Manufacturing Facility Program (also known as IDBs or IRBs) are manufacturing facilities who are interested expanding their business. Size of the expansion, the number of new jobs, and high wages are important factors in weighing the approval of the application.

There is a cap of $10,000,000 for each allocation request.  The $10,000,000 limit applies to the sum of the face amount of the bonds to be issued and the remaining principal amount of all prior small issue bonds. The project must comply with the following Internal Revenue Codes:
1. Capital expenditure limitation of $20,000,000 if the par amount of proposed bonds together with prior outstanding issues (outstanding principal balance) is in the same jurisdiction.
2. The sum of all other industrial development revenue bonds used by the developer cannot exceed $40,000,000 nationwide.

The bond proceeds cannot be used to refinance debt, inventory, or operating capital. For more information regarding manufacturing bonds, please view the Manufacturing Facility Application Guidelines (PDF) and Policies & Procedures for Manufacturing Facility Applications (PDF).

Manufacturing tax-exempt bond allocations face a one-year period to close; January 1 to the third Saturday in December of the same year. It is essential to have the necessary financing steps completed at the time of submission.

Applicants must submit three (3) copies (two (2) paper copies and one (1) electronic copy on a CD) of the application, including appropriate Fees, on or before the deadline for the target board meeting. Each application is thoroughly reviewed by an analyst and staff before it is submitted for approval to the Private Activity Bond Review Board. Missing information or fees may delay the application process.

Funding for approved manufacturing projects is available upon receipt of the volume cap certificate, usually 1-3 business days after the Private Activity Bond Authority Board Meeting.

Please complete the Manufacturing Facility Application ( PDF) ( Word) and submit it to Roxanne C. Graham or call (801) 538-8699.

Single Family Housing

The only applicants for the Single Family Housing Program is the Utah Housing Corporation (UHC).  Please see their web site at www.utahhousingcorp.org for a description of their programs.  This program is administered by UHC.  For more information, please contact UHC at info@utahhousingcorp.org or call (801) 902-8200.

Student Loans

The only applicants for the Student Loan Program is the Utah State Board of Regents, also known as the Utah Higher Education Assistance Authority (UHEAA). Please see their web site at www.uheaa.org for a description of their programs.  This program is administered through UHEAA.   For more information, please contact UHEAA at uheaa@utahsbr.edu or call (801) 321-7200.

Exempt Facilities

Applicants of the Exempt Facilities Program are pollution and waste control facilities who are interested in expanding their business. Size of the expansion, the number of new jobs, and high wages are an important factor in weighing the approval of the application.

There is a cap of $10,000,000 for each allocation request. However, if the project can show good reason for a waiver of this cap, the allocation may be higher. Also, at least 20% of the financing for the project must be taxable.

  Applicants must submit two (2) original copies and one (1) electronic copy on a CD of the completed application (including appropriate fees ) on or before the deadline for the target board meeting.   Each application is thoroughly reviewed by an analyst and staff before it is submitted for approval to the Private Activity Bond Review Board. Missing information or fees may delay the application process.

  At this time, we have not formally approved an official application for the Exempt Facilities Program. Most of the information requested on the Manufacturing Facilities Application is relevant to Exempt Facilities. After the application is submitted, our analyst will contact applicants for other pertinent information.   Please refer to the Manufacturing Facilities Application ( PDF) (Word).

Applications

• Single Family Housing Application
• Multi-Family Housing Application
• Manufacturing Facility Application (PDF Version) (Word Version)
• Student Loan Application
• Exempt Facilities Application

Application Fees

Listed below is the approved fee structure for the Private Activity Bond Authority. All fees are non-refundable. Please make your check payable to the "State of Utah - Private Activity Bond Authority" and submit it to:

Payment of Application Fees

All applications must include the appropriate application fee before it will be submitted for review and approval by the board. Please enclose a check with your application.

Payment of Confirmation Fees

Confirmation Fees must be paid within 10 days of receipt of the invoice.

Payment of Extension Fees

Applicants requesting an extension to a pre-approved volume cap allocation must pay the appropriate extension fee immediately after the board meeting in which the extension is approved. This policy takes effect April 11, 2007.

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

1.  Manufacturing and Exempt Facilities Programs are not eligible for carryforward allocation. Bonds mustclose by the third Saturday in December of the same year in which the project was approved by the board.
2.  Extensions are subject to substantial progress and approval by the board.
3.  If an applicant requires a third extension, a comprehensive review of progress will take place on the application, prior to the board meeting. The applicant may be asked to reapply after the third extension review if there is not substantial evidence of closing the bonds within the extension limit time frame.
4.  There is a limit of four extensions on any one project allocation.
5.  Certificates are good for a period of 90 days or until the next board meeting.
6.  Certificates issued for extension on multi-family projects in the October meeting are only good until the December meeting.
7.  Certificates issued for extensions on multi-family projects in the December meeting are good from then until the April meeting of the following year. They do not come up for extension renewalin the January Meeting.