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. 

Bond Fees

Application Fee

A $2,000 non-refundable application fee is due when the application is submitted. Please make checks payable to the Will Kankakee Regional 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 $5,000 and is required for all bond issues that have requested the enhancement of the moral obligation from the State of Illinois .  The fee is to be paid at the time, the WKRDA board recommends that the financial advisor proceed with the financial evaluation required by the Office of the Governor.  The fee increases to $7,000 at the 15 million dollar issue amount and $10,000 at the 25 million dollar issue amount.

Annual & Other Fees

Annual fees are 40 basis points (0.40%) (.0040 x bond amount) 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.

 (Rev. Adopted 7-14-04)

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Andrew Hamilton
Executive Director
Will Kankakee Regional Development Authority
116 No. Chicago Street
Two Rialto Square
Joliet, Illinois 60432
tel 866-325-7525
fax 866-325-7569
email andrewjhamilton@wkrda.com