Private Activity Bond Accounts

Applicants of this account, also known as Industrial Development Bonds (IDB) or Industrial Revenue Bonds), are manufacturing companies. Manufacturing volume cap requests are capped at $10,000,000 and 95% or more of the net proceeds are to be used for the acquisition, construction, reconstruction or improvement of land or property of a character subject to the allowance for depreciation or to redeem part or all of a prior issue which was so used. Manufacturing applicants must close on allocated volume cap before the third Saturday in December of the same year volume cap is awarded. For more details, please reference the PAB Policies and Procedures Manual.

• PAB Manufacturing Scoring Criteria Definitions: Please see the Private Activity Bond Program Policies and Procedures Manual under “Manufacturing, Scoring Criteria Definitions”
• PAB Manufacturing Scoring Criteria Matrix: Please see the Private Activity Bond Program Policies and Procedures Manual under “Manufacturing, Scoring Criteria Matrix”
• PAB Manufacturing Self-Score
• Claim of Business Confidentiality Request

Developers wishing to apply for Private Activity Bond (PAB) Volume Cap to help finance their multi-family housing projects must submit their application through the Utah Housing Corporation.

Applicants of this account are usually developers interested in building or rehabilitating multi-family apartments, which are totally, or have a large percentage of, affordable units compared to market rate units. The acquisition of private activity bonds is a requirement to qualify for 4% Low Income Housing Tax Credits.

• PAB Multi-Family Scoring Criteria Definitions: Please see the Private Activity Bond Program Policies and Procedures Manual under “Multi-Family, Scoring Criteria Definitions”
• PAB Multi-Family Scoring Criteria Matrix: Please see the Private Activity Bond Program Policies and Procedures Manual under “Multi-Family, Scoring Criteria Matrix”
• PAB Multi-Family Self-Score
• 2023 Scoring Summary
• 2024 Scoring Summary
• 2024 Project Costs Report
• 2025 Scoring Summary
• 2026 PAB YTD Scoring Summary
• 2026 PAB YTD Financial Averages

Applications must be electronic copies and may be accepted via thumb drive, electronic CD, or via a file drop application. Late or incomplete applications will not be accepted.

• PAB Manufacturing Application

Applicants of this account are facilities that serve the general public (for a complete list, please see the Private Activity Bond Program Policies and Procedures Manual under “Glossary, Exempt Facilities”). The Board has a suggested cap of $10,000,000 for each Exempt Facilities request; however, if a project can show good reason for a waiver of this cap, the Board may choose to allocate a higher amount.

• PAB Exempt Facilities Scoring Criteria Definitions: Please see the Private Activity Bond Program Policies and Procedures Manual under “Exempt Facilities, Scoring Criteria Definitions”
• PAB Exempt Facilities Scoring Criteria Matrix: Please see the Private Activity Bond Program Policies and Procedures Manual under “Exempt Facilities, Scoring Criteria Matrix”
• PAB Exempt Facilities Self-Score
• Claim of Business Confidentiality Request

Applications must be electronic copies and may be accepted via thumb drive, electronic CD, or via a file drop application. Late applications will not be accepted.

• PAB Exempt Facilities Application

The only applicant for the Single Family Housing Account is the Utah Housing Corporation. For more information, please visit their website or call 801-902-8200.

The only applicant for the Student Loan Account is the Utah Board of Higher Education. Contact information can be found here.