The authority currently charges a non-refundable application fee in the amount of $1,000 to a person who makes and application
to the authority for tax-exempt revenue bond financing for qualified multifamily rental housing projects which meet the goals
of the authority and comply with applicable federal and state law. This initial application fee is credited against the
administration fee, which is payable upon closing. The applicant is also responsible for the payment of a $3,000 initial fee
payable upon inducement to the authority for legal fees and expenses which will be credited against final legal fees and
At the inducement, the authority will request additional upfront payment of the cost of the credit underwriting report and fees
and expenses of $2,500 for the authority's financial advisor. At the closing of the bonds on administrative fee equal to
50 cents per thousand (0.5 of 1 percent) of the principal amount of the bonds will be due. In addition, the authority will
charge, in arrears, an annual administration fee of twenty five basis points (0.25 of 1 percent) on the outstanding amount of
bonds. Upon receipt of private activity bond volume cap allocation, the developer must execute a commitment agreement with the
authority and submit to the authority a commitment fee equal to 1/2 percent of the aggregate principle amount of the bonds to
be issued or provide an irrevocable letter of credit in such amount. This fee will be used as a credit against the cost of
issuance and is not an additional fee.
If the sale and closing does not take place, the fee will be refunded less out-of-pocket costs of the authority and fees and
expenses of bond counsel, counsel to the authority and the financial advisor. The out-of-pocket costs of the authority may
include, but are not limited to, costs of printing the bonds and official statement, travel and rating agency fees.
No taxes, fees, assessments, or charges are imposed and collected by the authority other than as set forth above. The fees
are charged pursuant to the general powers granted to the authority by Section 159.608, Florida Statutes.