Economic Development Fees

In-House Economic Development Legal Council Hourly Rate: $190 per hour                                                                             

TIF Plans:

Legal Costs - Actual costs incurred by the Law Department based on the applicable In-House Economic Development Legal Counsel hourly rate.  This amount will be charged to the Special Allocation Fund for the applicable TIF plan.
  Finance Department Costs - Actual costs incurred by the Finance Department based on applicable hourly rates.  This amount will be charged to the Special Allocation Fund for the applicable TIF plan.
Community Improvement Districts: Legal Costs - Actual costs incurred by the Law Department based on the applicable In-House Economic Development Legal Counsel hourly rate.  This amount will be charged to the fund managed managed by the by the Finance Department for the applicable CID.
  Finance Department Costs - Actual costs incurred by the Finance Department based on applicable hourly rates.  This amount will be charged to the fund managed managed by the Finance Department for the applicable CID.
Transportation Development Districts: Legal Costs - Actual costs incurred by the Law Department based on the applicable In-House Economic Development Legal Counsel hourly rate.  This amount will be charged to the fund managed managed by the by the Finance Department for the applicable TDD.
  Finance Department Costs - Actual costs incurred by the Finance Department based on applicable hourly rates.  This amount will be charged to the fund managed managed by the Finance Department for the applicable TDD.
Fees and Charges for Tax Abatement Approvals:  

Application Fee:

0.10% of the proposed amount of the bonds, with $1,000 minimum and $3,000 maximum.  Application Fee shall be annual; if final action on an Application does not occur within one year, a new and updated Application shall be filed together with payment of new Application Fee.

Issuance Fee: The Applicant shall pay an issuance fee to the City at closing of the transaction according to the following schedule:

 

Principal Amount

 

Fee

  Under $1,000,000 $4,000
  $1,000,000 to $5,000,000 $4,000 + $1 per $1,000 over $1,000,000
  $5,000,000 to $10,000,000 $8,000 + $0.75 per $1,000 over $5,000,000
  $10,000,000 to $50,000,000 $11,750 + $0.25 per $1,000 over $10,000,000
  Over $50,000,000 $21,750 + $0.15 per $1,000 over $50,000,000