Prior to submitting an application, we encourage prospective clients to contact the Authority to arrange a meeting once the project is defined and before any financial commitments have been made.

Before the meeting is held, the client will be asked to provide historical financial information, key operating statistics and detailed information on the project. This data allows CHEFA to conduct an internal credit review and to assess financing options to provide the lowest cost of borrowing. CHEFA reviews financing alternatives based on the Authority's underwriting guidelines with the client to assist it in making an informed decision whether or not to pursue tax-exempt financing. Please see Tax-Exempt Bond Issue Structure under Tax-Exempt Financing. 

Some of the topics discussed at the initial meeting include the following.

• Financing schedule
• Role of members of the financing team
• Financing costs (including costs of issuance, credit enhancement costs, etc.)
• Restrictions to capital campaigns planned for the proposed project
• Rating agency process
• Credit enhancement requirements and availability
• Tax Code diligence process
• Environmental requirements

CHEFA staff offers each client assistance throughout the entire financing process.

Step 2 - Structuring the Bond Issue