The Coconino County Industrial Development Authority
An Engine of Economic Development
The Coconino County Industrial Development Authority (CCIDA) provides alternative business financing for private and non-profit applicants (through their lenders or investors) in Northern Arizona by using tax-exempt bonds.
This financing can fund a variety of projects not only for new businesses and organizations in the region, but also for the expansion of existing entities. The tax-exempt nature of the financing allows lenders, underwriters or investors to provide money to applicants at rates that are generally lower than conventional financing.
Although the CCIDA Is based in Coconino County, eligible projects for financing are not restricted to the county.
How It Works
CCIDA approves the issuance of bonds that can provide financing for numerous types of development projects, including: the acquisition, construction, improvement, rehabilitation and equipment of manufacturing, distribution, warehouse and health care facilities; affordable housing; research and development; and pollution control facilities.
Revenue bonds are not a direct government lending or government guarantee program; applicants must secure a purchaser (i.e., lender or investor) for the bonds. CCIDA merely acts as a "conduit" or "pass-through" for the issuance of revenue bonds, which bonds may potentially provide lower interest rates due to Federal tax treatment. The applicant must negotiate the terms with the lender or underwriter, including the amount of the loan, maturity and interest rate.
The Benefits for You
For qualified applicants, CCIDA provides funding that lenders or underwriters can offer at rates that are significantly lower than conventional financing options. For lenders purchasing our bonds, interest earned through our bonds is exempt from state and federal income taxes. CCIDA has competitive fees and annual capacity for “bank qualified” eligible projects.
Bonds authorized by the CCIDA can be used by any public, private or non-profit organization for:
How to Get Started
For more information or to get started with an application for funding, call the law firm of Mangum, Wall, Stoops & Warden P.L.L.C at
The Board of the CCIDA meets on the second Thursday of each month.
In addition to federal and state guidelines, CCIDA looks for public purposes in proposed projects, such as providing additional employment or preserving existing jobs. Projects must be consistent with development plans of the applicable municipality in Coconino County, and cannot constitute a speculative investment of capital in real or personal property.
The governing body of CCIDA is appointed by the Coconino County Board of Supervisors [Note: link to BOS page] to six-year terms. The CCIDA meets on the second Tuesday of every month. The Board of Supervisors and the Board of Directors for CCIDA work together to consider and approve the issuance of bonds.
How to Apply/Fee Structure
Interested parties should contact CCIDA for application information, and for consultation regarding the eligibility of the proposed project for revenue bond financing. For more information or to get started with an application for funding, call the law firm of Mangum, Wall, Stoops & Warden P.L.L.C at (928) 779-6951.
If eligible, an application must then be submitted to CCIDA for preliminary and final approval. The Coconino County Board of Supervisors also must approve the proposed bond issue.
Each applicant is responsible for all of CCIDA's legal and review fees incurred in connection with the issuance of bonds to finance the applicant's project (whether or not incurred before or subsequent to the closing of the bond issue).
Fees: The fee for preliminary approval is $3,500, payable as a $1,500 application fee at the time the application is filed, with the balance due within 10 days after the preliminary approval of the project by the CCIDA Board. In the event CCIDA does not approve the issue of the requested bonds for any applicant, no additional fees are due beyond the initial application fee. The applicant also will reimburse all expenses incurred by the Authority, its Board or staff advisors related to the issuance of the bonds, as well as pay an annual fee set by the Board to cover annual costs while the bond is outstanding. Projects can usually be processed to final approval in 90 to 180 days.