| (a) Pre-Application Fees. The Applicant is required
to submit, at the time of pre-application, a pre-application fee of
$1,000, along with the fees noted on the Schedule of Fees posted on
the Department's website specific to the Department's bond counsel
and the Texas Bond Review Board (TBRB) pursuant to Tex. Gov't Code, §1372.006(a)).
These fees cover the costs of pre-application review by the Department
and its bond counsel and filing fees associated with application submission
for the Certificate of Reservation to the TBRB.
(b) Application Fees. At the time of Application the
Applicant is required to submit a tax credit application fee of $30
per Unit based on the total number of Units and a bond application
fee of $20 per Unit based on the total number of Units, unless otherwise
modified by a specific program NOFA. Such fees cover the costs associated
with Application review and the Department's expenses in connection
with providing financing for a Development. For Developments proposed
to be structured as a portfolio the bond application fees may be reduced
on a case by case basis at the discretion of Department staff.
(c) Closing Fees. The closing fee for Bonds, other
than refunding Bonds, is equal to 50 basis points of the issued principal
amount of the Bonds, unless otherwise modified by a program NOFA.
The Applicant will also be required to pay at closing of the Bonds
the first two years of the administration fee equal to 20 basis points
of the issued principal amount of the Bonds, with the first year prorated
based on the actual closing date, and a Bond compliance fee equal
to $25/Unit (excludes market rate Units). Such compliance fee shall
be applied to the third year following closing.
(d) Application and Issuance Fees for Refunding Applications.
For refunding an Application the application fee will be $10,000 unless
the refunding is not required to have a public hearing, in which case
the fee will be $5,000. The closing fee for refunding Bonds is equal
to 25 basis points of the issued principal amount of the refunding
Bonds. If applicable, administration and compliance fees due at closing
may be prorated based on the current billing period of such fees.
If additional volume cap is being requested other fees may be required
as further described in the Bond Refunding Applications Procedures
Manual. Transactions previously issued that involved a financing structure
that would constitute a re-issuance under state law, but do not fit
under §12.8, will be required to pay a closing fee that shall
not exceed 25 basis points of the re-issued principal amount of the
bonds which may be reduced in the sole determination of the Department
as commensurate with the review by staff in obtaining Board approval
at the time of conversion.
(e) Administration Fee. The annual administration fee
is equal to 10 basis points of the outstanding bond amount at the
inception of each payment period and is paid as long as the Bonds
are outstanding, unless otherwise modified by a specific program NOFA.
(f) Bond Compliance Fee. The Bond compliance monitoring
fee is equal to $25/Unit (excludes market rate Units as defined in
the Regulatory Agreement), and is paid for the duration of the State
Restrictive Period under the Regulatory Agreement, regardless of whether
the Bonds have been paid off and are no longer outstanding. For Developments
for which (1) the Department's Bonds are no longer outstanding and
(2) new bonds or notes have been issued and delivered by the Department,
the bond compliance monitoring fee may be reduced on a case by case
basis at the discretion of Department staff.
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