Texas Administrative Code › Title 10 - COMMUNITY DEVELOPMENT › Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS › Chapter 12 - MULTIFAMILY HOUSING REVENUE BOND RULES › Section 12.10 - Fees

Current through Reg. 49, No. 28; July 12, 2024
(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.