Tax-Exempt Financing
A Smarter Path to Capital
Capital Trust Authority (CTA) provides qualified borrowers with efficient access to tax-exempt municipal bond financing — nationwide, with experienced and professional in-house employees and a board that moves as fast as your deal does. CTA, as an interlocal agency created by two municipalities, has broad powers to issue bonds to finance many types of projects.
Why CTA
What Sets Us Apart
We've closed over $1.87 billion in transactions since 2022. Here's why borrowers and deal teams choose CTA.
Efficient
CTA meets on an ad hoc basis; CTA can call a board meeting within two weeks of receiving an application — both for the inducement resolution and the award resolution. Our board is responsive, flexible, and deeply committed to the projects we finance.
Nationwide Reach
Unlike many conduit issuers restricted to a single state or region, CTA is authorized to finance qualified projects across the United States — giving borrowers a single trusted issuer regardless of where their project is located.
Florida Tax Savings
Bonds issued by CTA for Florida projects are statutorily exempt from documentary stamp taxes and intangibles taxes — delivering meaningful savings on transaction costs that go directly to your project.
Flexible on Deal Teams
CTA does not mandate specific vendors. Borrowers and bankers are welcome to propose their own qualified bond counsel and underwriters, and we work cooperatively with experienced professionals who meet our standards for tax-exempt bond transactions.
A Board That Cares
Our board is composed of experienced community leaders who are genuinely passionate about the public purpose projects CTA finances — from charter schools and healthcare to housing and nonprofits. That mission alignment shows in how we work.
Proven Track Record
Since 2022, CTA has closed over 40 transactions totaling more than $1.87 billion in tax-exempt bonds — making it one of the most active conduit issuers in the Southeast.
How It Works
The CTA Process
From first contact to closing, most transactions complete in 3 to 6 months; CTA can typically move as fast as the working group is able.
1
Initial Inquiry
Contact CTA
Reach out to our team to discuss your project and whether it may qualify for tax-exempt financing. There is no cost or obligation at this stage. We'll ask about your organization, project purpose, financing amount, and timeline.
2
Week 1–2
Application & Inducement
Submit a completed application. Within two weeks, CTA will call a board meeting to consider an inducement resolution — the formal authorization to proceed with the financing. Our board moves quickly so your deal doesn't stall.
3
As Needed
TEFRA Approval
For tax-exempt projects, CTA has the ability to seek TEFRA approval, which is an apolitical process managed by the Florida Division of Bond Finance on behalf of the Governor.
4
Months 1–5
Document Preparation
Qualified bond counsel, underwriters, and/or bank's counsel prepare the bond documents in coordination with CTA. Borrowers and bankers are welcome to propose their preferred professionals, provided they meet the qualifications required for conduit bond transactions.
5
Near Closing
Award Resolution
Once bond documents are in substantially final form, CTA calls a second board meeting — again within two weeks — to adopt the award resolution authorizing the bond issuance.
6
Months 3–6
Closing
Bonds are issued and proceeds are delivered to the borrower. For Florida projects secured by a mortgage, the transaction is exempt from documentary stamp taxes and intangibles taxes — saving borrowers significant costs at closing.
Eligibility
Who We Work With
CTA finances projects that provide a public benefit as defined by federal and state law and the IRS.
Eligible Project Types
- ✦ Charter schools and independent schools
- ✦ Higher education institutions
- ✦ Healthcare facilities and nonprofits
- ✦ Workforce and affordable housing
- ✦ University and student housing
- ✦ Senior living communities
- ✦ Manufacturing and processing facilities (IDB program)
- ✦ Other projects serving a qualified public purpose
Program Parameters
- ✦ Minimum bond size: $5,000,000 (standard program)
- ✦ IDB program: up to $10,000,000 for qualifying manufacturers
- ✦ No maximum bond size
- ✦ Available nationwide
- ✦ Florida projects exempt from doc stamp and intangibles taxes
- ✦ Typical timeline: 3 to 6 months
- ✦ Borrowers may propose qualified bond counsel and underwriters
- ✦ Board meetings convened within 2 weeks
Specialized Program
Industrial Development Bonds
CTA issues Industrial Development Bonds (IDBs) — tax-exempt bonds that give qualifying manufacturers and processors access to below-market financing for facility construction, acquisition, renovation, and equipment. IDBs allow private companies to borrow at interest rates normally available only to governmental entities, creating a meaningful cost advantage for capital investment.
Eligible Uses
- ✦ Construction of new manufacturing or processing facilities
- ✦ Acquisition of existing manufacturing facilities
- ✦ Renovation, expansion, or improvement of existing facilities
- ✦ Purchase and installation of manufacturing equipment and machinery
- ✦ Land acquisition for qualifying manufacturing use
Who Qualifies
- ✦ Private companies engaged in manufacturing, production, or processing of tangible or intangible property
- ✦ Both for-profit and nonprofit manufacturers
- ✦ Borrowers with projects located anywhere in Florida (no host government approval required)
- ✦ Maximum bond amount: $10,000,000 per project
- ✦ No Florida volume cap required for qualifying IDBs
No Issuer FA Required
CTA charges no mandatory issuer financial advisor fee — saving manufacturers $15,000–$50,000 compared to issuers that require one.
TEFRA at No Extra Cost
The required TEFRA public hearing is managed soup to nuts by CTA's issuer's counsel, Bryant Miller Olive P.A., at no separate fee to the borrower.
Statewide Florida Authority
No interlocal agreement or host government approval is required for Florida projects. CTA can finance qualifying manufacturing projects anywhere in the state.
IDB eligibility requires that the financed facility be used for qualifying manufacturing, production, or processing activities under Internal Revenue Code Section 144(a). Certain activities — including warehousing, distribution, and retail — do not qualify. The $10 million project cap is subject to the six-year lookback rule under federal tax law. Borrowers should consult their own bond counsel regarding program eligibility.
Ready to get started?
Contact us to discuss your project and find out if CTA is the right fit.
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