Get the free Recovery Zone Facility Bond Application - cityofchicago

A comprehensive application for obtaining Recovery Zone Facility Bonds for financing specific capital projects in the City of Chicago, which are aimed at stimulating economic recovery through lower

How to fill out recovery zone facility bond

How to fill out Recovery Zone Facility Bond Application

1. Obtain the Recovery Zone Facility Bond Application form from the appropriate state or local agency.
2. Fill in the applicant's information, including name, address, and contact details.
3. Provide a detailed description of the facility and its purpose.
4. Outline the expected public benefits of the project.
5. Include financial information, such as project costs and funding sources.
6. Attach any required supporting documents, like project plans or financial statements.
7. Review the application for completeness and accuracy.
8. Submit the completed application to the designated authority by the deadline.

Who needs Recovery Zone Facility Bond Application?

1. Businesses and developers looking to finance eligible projects that benefit local economies through Recovery Zone Facility Bonds.
2. State and local governments that are seeking to stimulate economic development and job creation in designated recovery zones.

People Also Ask about

Who issues BABs?

BABs are taxable bonds that can be issued by State and local governments, and are subsidized by the U.S. Treasury. BABs can receive subsidy either through a direct payment from the Treasury or through tax credits provided to bondholders.

What is a bab in finance?

Build America Bonds are tax credit bonds introduced as part of the February 2009 American Recovery and Reinvestment Act (ARRA) and are administered by the Treasury Department.

What is form 8038?

Issuers of tax-exempt private activity bonds use Form 8038 to provide the IRS with the information required by Internal Revenue Code section 149 and to monitor the requirements of Internal Revenue Code sections 141 through 150.

What are the different types of BABs?

Are all BABs the same? A-3 No. There are three types of BABs: BABs (Tax Credit), BABs (Direct Pay) and RZEDBs. Each type has a different subsidy, a different purpose for which it may be issued, and other varying rules.

Are BABs subject to federal income tax?

Unlike owners of tax-free municipals, holders of Build America Bonds are subject to federal income tax on the interest they receive. However, holders who live in the state where the bond was issued may be exempt from state and local taxes on the interest.

Are BABs still issued?

h Authority to issue BABs expired year end 2010. As of December 2010, about $48 billion in BABs had been issued for surface transportation purposes.

For pdfFiller’s FAQs

What is Recovery Zone Facility Bond Application?

The Recovery Zone Facility Bond Application is a form used to apply for financing through tax-exempt bonds for facility improvements or construction projects located in designated recovery zones. These zones are areas that have been negatively impacted by economic downturns.

Who is required to file Recovery Zone Facility Bond Application?

Entities seeking to finance a facility project in a recovery zone using recovery zone facility bonds are required to file this application. This typically includes public and private businesses or organizations planning to improve or construct facilities eligible for this financing.

How to fill out Recovery Zone Facility Bond Application?

To fill out the Recovery Zone Facility Bond Application, applicants must provide detailed information about the project, including project description, anticipated costs, location, and the expected economic benefits. Specific forms and guidance can usually be found on the relevant government or agency website.

What is the purpose of Recovery Zone Facility Bond Application?

The purpose of the Recovery Zone Facility Bond Application is to facilitate access to financial resources for projects that can stimulate economic growth and job creation in areas designated as recovery zones. It helps leverage tax-exempt bonding to reduce borrowing costs.

What information must be reported on Recovery Zone Facility Bond Application?

The Recovery Zone Facility Bond Application must report information such as the project name, location, type of facility, expected job creation, total project costs, and details about the financing structure. Additional documentation may also be required to support the application.