Low Interest Tax-exempt government-supplied funding is available to qualifying commercial, industrial and manufacturing enterprises. Applications are reviewed by the Fort Bend Industrial Development Corporation board review applications and consideration is given based on the type of industry, number of employees, average wages, capital investments, financial strength and community investment of the applying business.
Who is eligible for Industrial Development Corporation financing?
How do I apply?
The application for Fort Bend IDC Financing is available here.
Steps for Applying for Private Activity Bond Financing
- Obtain Application for Financing from Fort Bend IDC (Issuer) office at the Greater Fort Bend County Economic Development Corporation (EDC) offices, One Fluor Daniel Drive, Sugar Land 77478 or click here.
- Complete Application in duplicate with all necessary attachments and submit to Fort Bend EDC with a $1,000 nonrefundable Application Fee at least 3 weeks prior to Issuer Board meeting.
- Issuer Board of Directors meets to consider and adopt an Inducement Resolution and authorize Application to the Texas Bond Review Board.
- Complete Application for Private Activity Bond Volume Cap Allocation and submit to Texas Bond Review Board in triplicate with all attachments and $500 nonrefundable Application Fee.
- Receive Reservation for private activity bond volume cap allocation, at which point Borrower has 120 days to close the bonds.
- 35 days from Reservation Date Borrower must submit 35-day Bond Authorization Requirements Checklist with 1/3 of closing fee (1/3 of $1,000 or 0.25% of bond amount, whichever is greater);
- Publish Notice of TEFRA Hearing at least 14 days prior to Public Hearing (Borrower pays publication expense (approx. $1,000)).
- Issuer Holds TEFRA Hearing on Bonds and Project.
- Submit Proposed Bond Transcript to Texas Attorney General with maximum $9,500 application fee (or 1/10th of 1% of bond amount, whichever is the lesser amount) and Application to Office of the Governor/Texas Economic Development and Tourism Division (if applicable, with applicable fee).
- Issuer approves Bond Resolution.
- Fort Bend County approves Issuer’s Bond Resolution and approves issuance of Bonds and project (TEFRA approval).
- All finalized and executed documents submitted to Attorney General 14 business days prior to bond closing.
- Bond closing upon approval of Attorney General and Office of the Governor (if applicable): Within 5 business days of closing, submit Closing Document Checklist to Bond Review Board with 2/3 closing fee; also submit Closing Fee of 1/5 of 1% of bond amount to Issuer.