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Effective July 1, 2023 |
| No Changes |
Effective July 1, 2024 |
| In-House Economic Development Legal Council Hourly Rate |
$200 per hour |
| In-House Economic Development Paralegal Hourly Rate |
$100 per hour |
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TIF Plans
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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. |
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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 by the Finance Department for the applicable CID. |
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Finance Department Costs - Actual costs incurred by the Finance Department based on applicable hourly rates. This amount will be charged to the fund 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 by the Finance Department for the applicable TDD. |
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Finance Department Costs - Actual costs incurred by the Finance Department based on applicable hourly rates. This amount will be charged to the fund managed by the Finance Department for the applicable TDD. |
| Fees and Charges for Tax Abatement Approvals |
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Application Fee
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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 the new Application Fee. |
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Issuance Fee: The Applicant shall pay an issuance fee to the City at the closing of the transaction according to the following schedule
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Principal Amount
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Fee
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Under $1,000,000 |
$4,000 |
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$1,000,000 to $5,000,000 |
$4,000 + $1 per $1,000 over $1,000,000 |
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$5,000,000 to $10,000,000 |
$8,000 + $0.75 per $1,000 over $5,000,000 |
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$10,000,000 to $50,000,000 |
$11,750 + $0.25 per $1,000 over $10,000,000 |
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Over $50,000,000 |
$21,750 + $0.15 per $1,000 over $50,000,000 |