Bond Allocation Program

Georgia is authorized to use up to $120 per capita a year, or $1,309,545,120 for 2023 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. Additionally, economic development projects requesting an allocation amount greater than $20,000,000 must receive a letter affirming the financial feasibility of this transaction from the Georgia Department of Economic Development. 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. 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.

Bond Fees

• Bond Application Fee: $250.00
• Bond Carryforward Fee: $250.00
• Bond Adjustment (change in amount of allocation or one -time 30 day extension) Fee: $100.00
• Bond Issuance Fee: 1/10 of 1% (0.001)

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