Welcome to the Arizona IDA Multifamily Housing Bond Recycling Program.

As affordable housing transactions continue to evolve following the reduction of the federal tax-exempt financing threshold from 50% to 25%, preserving and maximizing the use of Private Activity Bond volume cap has become more important than ever.

Arizona IDA has collaborated with developers, lenders, bond counsel, underwriters, and industry partners from across the country to build a flexible program designed to meet the needs of Arizona’s affordable housing market. The Program incorporates multiple implementation tools, including a strategic preservation facility developed with the assistance of industry experts at Tiber Hudson and Kutak Rock to help facilitate the preservation and timely redeployment of recycled volume cap.

Bond recycling creates an opportunity to preserve and redeploy tax-exempt financing capacity, helping projects maximize supportable tax-exempt permanent debt while stretching Arizona’s constrained volume cap resources further.

By expanding access to tax-exempt financing and making more efficient use of these resources, Arizona IDA hopes to support the development and preservation of additional affordable housing across the state.

Please complete the Request Form below to request consideration for Recycled Private Activity Bond Volume Cap through the Arizona Industrial Development Authority (Arizona IDA). Once submitted, a member of the Arizona IDA team will contact you to discuss the request.

Please complete all required fields and upload the requested supporting documentation.

Applicants must identify the applicable in accordance with Arizona IDA’s Multifamily Housing Bond Recycling Program Priority List and Procedures.

After Submission:

• The Arizona IDA will review the request for completeness and consistency with Program requirements.
• Requests are evaluated and placed in the Priority Queue based on the Priority List.
• An Arizona IDA staff member will contact the applicant to discuss priority status, timing considerations, and next steps.

*Submission of this form does not guarantee an allocation of Recycled Volume Cap. **All requests are subject to availability and final approval by Arizona IDA.