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 Application and Fees
Applications which are complete and accurate will be promptly reviewed and acted upon by the Board of Directors. A non-refundable application fee must accompany a completed application upon submission.
Bond Fees
Application Fee
The application fee is $2,000 and is non refundable and must be submitted with the application.
Issuance Fee
This service fee is 80 basis points (0.80%) (0.0080 x bond amount) on Private Entities issues and 40 basis points (0.40%) (.0040 x bond amount) on Government/Not-for-Profit Issues.
Financial Advisor Fee
A financial advisor fee is $5,000 and is required for all bond issues that have requested the enhancement of the moral obligation from the State of Illinois. The fee is to be paid at the time the QCREDA board recommends that the financial advisor proceed with the financial evaluation required by the Office of the Governor. The fee increases to $7,000 at the 15 million dollar issue amount and $10,000 at the 25 million dollar issue amount.
Annual Fee
Annual fees are 40 basis points (0.40%) (.0040 x bond amount) and are based upon the initial issue principal amount and will decline annually as the outstanding principal declines. Other misc. fees include cost of Authority Counsel.
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For more information contact:
Andrew Hamilton - Executive Director
Quad Cities Office
Quad Cities Regional Economic Development Authority
1830 Second Avenue, Suite 200 Rock Island, IL 61201
Toll Free: 866/325-7525, Fax: 866/325-7569
E-mail: andrewjhamilton@qcreda.com
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