Chandler Industrial Development Authority provides tax-exempt financing through industrial revenue bonds for the financing or refinancing of the cost of acquisition, construction, improvement, rehabilitation or equipping of a project.
Generally speaking, the proceeds of the bonds can be used for either the purchase or lease of land, buildings, machinery or equipment, which is suitable for the activities listed below. CIDA also provides a Chandler Collateral Assistance Program (CCAP) for local businesses seeking loans.
- Manufacturing, processing or assembly
- Warehousing, distributing or selling of industrial, agricultural or mining products
- Buildings that serve as company headquarters or regional offices
- Adaptive reuse for offices of buildings listed on the National Register of Historic Places
- Healthcare institutions as defined in Arizona Revised Statutes
- Convention or trade show facilities
- Facilities for airports, commuting, parking or related training
- Facilities for solid waste or sewage disposal, electric energy, gas or water
- Industrial park facilities
- Air or water pollution control facilities
- Research and development facilities
- Select commercial enterprises located in a designated redevelopment area
- Certain transportation
- Single family owner-occupied housing
- Multifamily rental housing, with a portion reserved for low and moderate income persons
- Rehabilitation of residential buildings located in a registered historic neighborhood
- Educational institutions operated by a nonprofit organization, which is nationally accredited and not funded by state monies or any educational institution established under Arizona law as a charter school and owned by a nonprofit organization
- Certain child welfare agencies owned and operated by a nonprofit organization
- Museums operated by a nonprofit organization
- Facilities owned or operated by a nonprofit organization that is primarily engaged in delivering community services on that property consisting of fitness programs, camping programs, health and recreation services, youth programs, childcare, senior citizen programs, individual and family counseling, employment and training programs, service for individuals with disabilities, meals, feeding programs or disaster relief
Note that CIDA is a “conduit” lender. It does not directly loan its own funds, but rather, “passes funds through” from third parties that purchase CIDA’s bonds and loan them to CIDA’s borrowers. Under the Internal Revenue Code, interest paid on these qualified loans is, generally speaking, excluded from gross income when calculating Federal and State of Arizona tax liability. The bonds are either sold to the public or privately placed with financial institutions. Often, the company can work with its own bank to secure the bond financing. The bond proceeds can be used to finance capital expenditures made in connection with qualified projects.
Application and Additional Resources
Application | Procedural Pamphlet | Info Sheet | Board of Directors
Contacts
| Industrial Projects | Housing Projects |
|---|---|
| Micah Miranda Economic Development Director 480-782-3035 |
Housing and Redevelopment 480-782-3207 |