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TO: BOARD OF SUPERVISORS ;
Contra
FROM: Anthony A. Dehaesus
Director of Planning Costa
DATE: April 10, 1984 County
SUBJECT: Procedures and Fee Schedule for Industrial Development Authority
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
As the Board of Directors of the Industrial Development Authority of the County of Contra Costa,
adopt procedures and fee schedule for the Authority as recommended by the Director of Planning.
BACKGROUND:
State law prescribes certain procedures which must be followed in issuing industrial development
bonds. In addition, state law provides parameters, relative to administrative expenses that can be
assessed by the local industrial development authority. In establishing the Industrial Development
Authority in 1981, the Board of Supervisors indicated that an application fee of one-fourth of 1% be
established to offset administrative cost of the Authority. The attached procedures and fee
schedule are intended to provide guidance to prospective applicants in conformance with State law
and adopted board policy.
CONTINUED ON ATTACHMENT: YES SIGNATUR
RECOMMENDATION OF COUNTY ADMINISTRATOR EC MME OATIO ,OF BOA D OMMITTEE
APPROVE OTHER
SIGNATURE(S) L C 4o;x_
ACTION OF BOARD ON April 17, 1984 APPROVED AS RECOMMENDED X OTHER
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VOTE OF SUPERVISORS
X _ UNANIMOUS (ABSENT III ) I HEREBY CERTIFY THAT THIS IS A TRUE
AYES: NOES: AND CORRECT COPY OF AN ACTION TAKEN
ABSENT: ABSTAIN: AND ENTERED ON THE MINUTES OF THE BOARD
OF SUPERVISORS ON THE DATE SHOWN.
CC: County Counsel ATTESTED 046A.- /ry Mi(
County Administrator J.R. SLSSON. COUNTY CLERK
Director of Planning AND EX OFFICIO CLERK OF THE BOARD
Treasurer-Tax Collector
County Clerk-Recorder
M382/7-e8 BY , DEPUTY
CONTRA COSTA COUNTY
INDUSTRIAL DEVELOPMENT AUTHORITY
PROCEDURES AND FEE SCHDULE
I. PROCEDURES
The following statement outlines the basic steps prescribed by the state law to process an
application through the Contra Costa County Industrial Development Authority.
1. Applicant has an initial consultation with Planning Department staff, as staff of the
Authority. If, indications seem positive, staff issues the application form with
procedures and fee schedules.
2. Subsequently, the staff will accept a completed application for review and will make
a preliminary determination of public benefit criteria and other provisions of law and
make recommendations to the Authority. A non-refundable filing fee equal to the
greater of one-tenth of 1% of the estimated bond issue or $1,250, will be required
with the submission of the completed application form. Acceptance of the
application in no way obligates the Authority to approve the project.
3. If, on the basis of review under step #2, an affirmative determination is made, (a) the
Authority must certify the application and make a finding of public benefit, (b) a
copy of the certified application is then filed with the Board of Supervisors, and (c) a
notice is published which indicates the acceptance of the application, and the filing
with the Board of Supervisors. The notice also names the company, briefly
summarizes the project and stakes the maximum estimated amount of the bond issue.
4. Upon completion of the steps indicated above, the Board of Supervisors must take an
action to approve or disapprove the application within 45 days.
5. Once the Board of Supervisors approves the application, the Clerk of the Board
certifies the Board's action and transmits all supportive materials, studies, etc. to
the Authority's staff.
6. Upon certification and transmittal of the County of Contra Costa's approval to the
Authority's staff, the proposed bond issue together with any required State fees and
documentation is transmitted to the California Industrial Development Financing
Advisory Commission (CIDFAC)„ for its review. The Advisory Commission, which is
chaired by the State Treasurer, has sixty (60) days from the date or receipt of
application to make a determination of approval or disapproval. Such approval or
disapproval will be made on the basis of its findings on the following criteria.
a. Public benefit of the project.
b. Determination of whether the project or its operation will result in the
relocation or abandonment of other facilities within the State.
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c. Specific conditions relating to financial, credit viability and other detailed
characteristics of the bond issue and its sale (these conditions are outlined in
Article 5 of the California Industrial Development Financing Act and are similar
to the requirements outlined above.
7. The State Advisory Commission transmits its approval or disapproval of the project
to the Industrial Development ,Authority.
8. 'Concurrent with execution of a loan agreement, the Authority, by resolution,
approves and issues the bonds. At this time, the balance of the required application
fee will be paid by the applicant. It must be noted that the issuance of these bonds
constitutes no liability for, and does not affect the credit of, the County or the State.
They are special obligation bonds supported only by the credit of the applicant and
the soundness of the project.
11. FEE SCHEDULE
The law establishing the Industrial Development Authority permits the Authority to
recover processing and administrative costs related to the issuance of the industrial
bonds. The Authority will collect.an application fee of at least $1,250 up to one-fourth of
1% of the amount of the bond issue.
Within the constraints of these provisions, the Contra Costa County Industrial Develop-
ment Authority has developed the following fee schedule to be used in the program:
1. At the time an application is submitted, a filing fee in an amount equal to the greater
of $1,250 or one-tenth of 1% of the estimated bond issue will be required. This filing
fee is non-refundable.
2. Filing fees rquired to submit an application to the California Industrial Development
Financing Advisory Committee must be paid by the applicant. Said fee may be paid
to the State by the applicant on behalf of the Authority or directly to the Authority
prior to submittal of the application to the State.
3. At the time of final Authority approval (step 8) the balance of the one-fourth of 1%
application fee must be paid.
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