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Steps for CIDA Funding
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1. Applicant estimates projects costs and benefits.
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2. Applicant meets with independent bond council to determine feasibility of application.
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3. Applicant refines costs and works with financing source.
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4. Applicant submits the application with $3,000 nonrefundable fee to the CIDA for preliminary approval.
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5. Within 30 days, the CIDA will hold public meeting for preliminary approval.
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6. CIDA financial and legal advisors review application and make recommendation.
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7. CIDA requests Arizona Dept. of Commerce allocate funds against the state volume cap if necessary.
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8. Applicant submits request for final CIDA approval.
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9. Within 30 days, CIDA holds public meeting for final approval.
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10. Chandler City Council votes to decide final approval.
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11. The bonds are sold (either privately or publicly) and the transaction closes.
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