The Industrial Development Authority of the City of Tempe (“IDA”) promotes economic development in the City by its function of serving as the conduit municipal bond issuer in qualified private activity bond transactions. (Resolution No. 1615, July 1980)
By using the service of the IDA, project developers may secure a lower cost of funds and greater access to capital to finance their qualifying projects. The IDA invests in the City in ways that will encourage further development, attract new business and industry, assure job opportunities, and enhance the prosperity and quality of life of our residents, employees and businesses.
For more information on the IDA, click here.
The IDA may consist of as few as three and as many as seven members. The members of the IDA are selected from the qualified electors of the City of Tempe by the Mayor with the approval of the City Council for a term of six years.
The IDA meets on a quarterly basis, and more frequently as needed. There is no set meeting location.