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Bond Allocation Program

Program Description | Downloads & Related Links | Contact Information

Program Description

Pursuant to state and federal law, the department administers the "Georgia Allocation System" for local and state government issuing authorities seeking to issue "private activity tax exempt bonds". Georgia is authorized to use up to $100 per capita a year, or $1,021,486,000 for 2016 projects ranging from the traditional industrial development bond (IDB) for manufacturing concerns and mortgage revenue bonds (MRB) for single family mortgages to bonds for multi-family housing development and exempt facility bonds. The department utilizes a very specific application procedure that ensures allocation is available throughout the year. Allocation amounts are set aside for economic development purposes, housing purposes, and purposes such as solid waste disposal. To receive an allocation, the local issuing authorities must approve the project, hold a public hearing, have local government approval, and general financing in place. Economic development projects must commit to create or retain 1 job for every $125,000 of financing. Multi-family housing projects must demonstrate that a minimum number of units will be set aside for low to moderate income families and single-family proposals must demonstrate the ability to turn allocations into cost-effective mortgages for first-time low and moderate income home buyers. The bottom line is that use of this scarce resource allows for lower than normal financing costs, resulting in the creation or retention of jobs and expansion of affordable housing.

 

Application & Related Forms

Application for Bond Allocation (PDF)

Confirmation of Issuance form (PDF)
Carryforward Election Application (PDF)

 

Allocations

2016 Original Allocation Cap Formula (PDF)

2016 Available Allocation (PDF)

2016 Allocations (PDF)

 

               Previous Years:

               2015 Allocations (PDF)

               2014 Allocations (PDF)

               2013 Allocations (PDF)

               2012 Allocations (PDF)
               2011 Allocations (PDF)
               2010 Allocations (PDF)

 

Sample Documents

Sample Financial Commitment Letter (PDF)
Sample Zoning Compliance Statement (PDF)
Sample State Law (Legal Counsel) Opinion (PDF)
Sample Federal Law (Legal Counsel) Opinion - Exempt Facility (PDF)
Sample Federal Law (Legal Counsel) Opinion - Exempt Facility Multi-Family Housing Bonds (PDF)
Sample Federal Law (Legal Counsel) Opinion - Private Activity Portion of Governmental Use Bonds (PDF)
Sample Federal Law (Legal Counsel) Opinion - Single-Family Housing Bonds (PDF)

 

Related Links

Multifamily Housing Finance and Development Programs

Qualified Allocation Plan (QAP)

HOME Investment Partnership Program

Housing Tax Credit Program

 

Contact Information

For more information or Allocations from older years, contact the Bond Allocation Program.

Georgia Department of Community Affairs
60 Executive Park South, N.E.
Atlanta, Georgia 30329-2231

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