Application and Fees
SIEDA brings the ideal to life.
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.
Application Fee
The application fee is $2,000 and is due when the application is submitted. Please make checks payable to SIEDA - "Southeastern Illinois Economic Development Authority."
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 required for all bond issues that request the enhancement of the moral obligation from the State of Illinois . The fee is to be paid at the time the SIEDA board recommends that the financial advisor proceed with the financial evaluation required by the Office of the Governor. The fee generally ranges between $7,000 to $20,000 based on the complexity of the project.
Annual & Other Fees
Annual fees are 40 basis points (0.40%) (.0040 x bond amount) for eligible projects 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 which averages between $5,000 to $10,000 depending upon the complexity of the project.