Arizona Industrial Development Authority - Arizona IDA

The Arizona Industrial Development Authority (Arizona IDA) is a nonprofit corporation and political subdivision of the State of Arizona. The Arizona IDA is a conduit issuer of municipal revenue bonds with the ability to assist private and public borrowers across the country. With the Arizona IDA as their financing partner, applicants for financing often find they can substantially reduce borrowing costs for their most important projects. The Arizona IDA issues conduit revenue bonds for the benefit of private users. Repayment of the bonds is the obligation of the private user, not of the Arizona IDA or the State of Arizona. The proceeds of these revenue bonds may be used for commercial enterprises of any kind, and the interest on the bonds may be exempt from federal income taxation (consult your tax lawyer). In Arizona, interest on bonds issued by the Arizona IDA is always exempt from state income taxation. The Arizona IDA also participates in home buyer assistance programs. The Arizona IDA administers the HOME+PLUS Home Buyer Down Payment Assistance Program, providing eligible credit worthy applicants a 30-year fixed-rate mortgage combined with down payment assistance (DPA) ranging from 0% – 4% depending upon the new underlying first mortgage. The DPA can be used toward a down payment, closing costs or a combination of the two.