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City of Flagstaff Industrial Development Authority
The City of Flagstaff Industrial Development Authority (IDA) was established to promote industrial growth in the city, county, and state. The program takes advantage of tax-deferred bonds, which are usually available at a lower interest rate than traditional financing.
Qualifications for the IDA Program
Projects must support Arizona’s economy. They may include:
- Land
- Buildings
- Leasehold improvements
- Plant and equipment
- Office buildings
- Historical buildings
- Health care
- Industrial parks
- Educational institutions
- Commercial facilities (lodging facilities such as hotels)
Process
Does your project meet the minimum project qualification above?
- You must provide a detailed description of the project and a $3,500 application fee.
- You will be required to retain bond counsel to represent you for financing.
- Upon application review, you must present your project to the IDA Board.
- This is a public process. Your plan will be available to public inspection.
- Your project will require a qualified appraisal.
- The IDA Board will review your project for merit.
- You will apply for bond financing based on your credit worthiness.
- Financing will be tax-deferred, which could be 1.5–2 percent below market.
To learn more about the City of Flagstaff IDA, contact Franklin Hoover at 928-779-6951.
