The Arizona IDA
OUR MISSION: To promote industry and develop trade. To assist financially and otherwise in the rehabilitation, expansion, and development of all types of commercial enterprises which will:
- promote and assure job opportunities,
- an improved standard of living, and
- an increase in prosperity and health for the residents of the State of Arizona.
The Arizona Industrial Development Authority (Arizona IDA) is a nonprofit corporation and political subdivision of the State of Arizona. We meet our strategic objectives by:
- Providing access to capital. The Arizona IDA is a conduit issuer of municipal revenue bonds with the ability to assist private and public borrowers across the country. Working with the Arizona IDA, applicants for financing often find they can substantially reduce borrowing costs for their most important projects. The proceeds of these revenue bonds may be used for a variety of commercial enterprises, 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 presently exempt from state income taxation. Lower financing costs for commercial enterprises by improving access to the capital markets provides increased liquidity, efficiency, and economies of scale.
- Making single-family housing more affordable for low and moderate-income families. By developing, implementing, and promoting the best single-family mortgage down payment assistance program in the country, the Arizona IDA’s 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% – 5% depending upon the new underlying first mortgage. The DPA can be used toward a down payment, closing costs, or a combination of the two.
The Arizona IDA was created pursuant to A.R.S. §35-701 – 733 (the “IDA statute”).
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- The Arizona IDA itself has no taxing power and does not have the power to pledge the general credit or taxing powers of the State of Arizona.
- The Arizona IDA does not pledge general credit for the repayment on any Arizona IDA conduit revenue bonds. Repayment on the Arizona IDA issued bonds comes solely from the collateral and pledged revenue of each bond issuance.
- The Arizona IDA is a “conduit issuer” and is empowered to issue its bonds to provide funds for the financing or refinancing of the costs of the acquisition, construction, improvement, equipping or operating of a “project,” as defined in the IDA statute.
- Except for certain housing bond issues, pursuant to the IDA statute, the Arizona IDA can issue its bonds for any eligible project within or without the State of Arizona.
Management and Board of Directors
The Arizona IDA is proud to have a highly qualified Management team and Board of Directors, with diverse business backgrounds in banking, finance, housing, and community programs. We invite you to learn more about the accomplished members of our team by clicking on the link below. Thank you for your interest in the Arizona IDA.
Meetings with the Arizona IDA
The Board of Directors of the Arizona IDA typically meet on the third Thursday of each month, starting at 4:00 pm with the meeting of the Arizona Finance Authority commencing directly thereafter.
For information regarding upcoming and past meetings, including agendas and minutes, click the link below.
Arizona IDA Bond Issues
The Arizona IDA is a conduit issuer and does not monitor operations of the projects it finances. As a rule, a bond trustee or fiscal agent keeps the books related to each project and the borrower/operator are responsible for operations/management.
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The Arizona IDA is a conduit issuer of revenue bonds and none of the Arizona IDA, the Board of Directors, State of Arizona, its Legislature, or the Arizona IDA’s counsel is acting or will act as a municipal advisor, financial advisor or fiduciary to any other party involved in the issuance of any Bonds. The Arizona IDA will not provide any advice or recommendation to any Borrower or anyone on a Borrower’s behalf regarding the “issuance of municipal securities” or any “municipal financial product” and no information found on this website (or any linked website) shall be interpreted to the contrary. The Arizona IDA is not registered as a municipal advisor and does not intend to so register.
| Project | AZ/NAT | Purpose | Principal | Closing Date | Fiscal Year |
|---|---|---|---|---|---|
| Kaizen Education Foundation | AZ | Education | $ 31,675,000 | 12/21/2016 | 2017 |
| Synergy Public School | AZ | Education | $ 5,000,000 | 1/30/2017 | 2017 |
| BASIS Schools 2017 AB | AZ | Education | $ 75,960,000 | 2/2/2017 | 2017 |
| Kingman Regional Medical Center I | AZ | Healthcare | $ 20,000,000 | 3/31/2017 | 2017 |
| Daisy Education Corporation, 2017 | AZ | Education | $ 21,000,000 | 4/6/2017 | 2017 |
| American Charter School Foundation, 2017 | AZ | Education | $ 73,390,000 | 5/9/2017 | 2017 |
| Academies of Math & Science, 2017A&B | AZ | Education | $ 31,185,000 | 7/6/2017 | 2018 |
| Franklin Phonetics | AZ | Education | $ 6,715,000 | 7/12/2017 | 2018 |
| Sonoran Science Academy Broadway | AZ | Education | $ 5,700,000 | 7/28/2017 | 2018 |
| Bridgewater at Avondale | AZ | Multifamily | $ 26,580,000 | 9/14/2017 | 2018 |
| BASIS 2017 CDE | AZ | Education | $ 43,715,000 | 10/17/2017 | 2018 |
| Montessori Academy, Inc. | AZ | Education | $ 6,290,000 | 11/16/2017 | 2018 |
| Odyssey Preparatory Academy Project, Series 2017A&B | AZ | Education | $ 45,565,000 | 11/29/2017 | 2018 |
| Arizona Agribusiness Equine Center | AZ | Education | $ 23,995,000 | 12/14/2017 | 2018 |
| BASIS 2017 FG | AZ | Education | $ 57,455,000 | 12/21/2017 | 2018 |
| Leman Academy, 2017 | AZ | Education | $ 32,745,000 | 12/27/2017 | 2018 |
| Summit Christian Academy (MO) | NAT | Education | $ 7,100,000 | 12/28/2017 | 2018 |
| Kingman Regional Medical Center II | AZ | Healthcare | $ 20,000,000 | 12/29/2017 | 2018 |
| Tucson Medical Center | AZ | Healthcare | $ 15,000,000 | 12/29/2017 | 2018 |
| Academies of Math & Science, 2018A | AZ | Education | $ 24,865,000 | 1/24/2018 | 2018 |
| BASIS Schools 2018 Taxable (LA) | NAT | Education | $ 16,295,000 | 3/16/2018 | 2018 |
| Provident - EMU (MI) | NAT | Education | $ 59,320,000 | 4/24/2018 | 2018 |
| Legacy Las Vegas (NV) | NAT | Education | $ 26,440,000 | 4/26/2018 | 2018 |
| Copper Cove | AZ | Multifamily | $ 23,794,000 | 5/16/2018 | 2018 |
| Provident - EMU Refunding (MI) | NAT | Education | $ 62,065,000 | 7/19/2018 | 2019 |
| ACCEL, 2018A&B | AZ | Education | $ 14,730,000 | 8/24/2018 | 2019 |
| Franklin Discovery (UT) | NAT | Education | $ 12,420,000 | 10/17/2018 | 2019 |
| Daisy Education Corporation, 2018 | AZ | Education | $ 7,400,000 | 11/15/2018 | 2019 |
| Academies of Math & Science, 2018B | AZ | Education | $ 45,065,000 | 11/28/2018 | 2019 |
| Pinecrest Academy - Sloan Canyon (NV) Series 2018 | NAT | Education | $ 35,000,000 | 11/28/2018 | 2019 |
| Windsong | AZ | Multifamily | $ 25,480,000 | 12/3/2018 | 2019 |
| Vaseo | AZ | Multifamily | $ 130,000,000 | 12/13/2018 | 2019 |
| Pinecrest Academy - 3 Schools (NV) | NAT | Education | $ 42,300,000 | 12/19/2018 | 2019 |
| AIDS Healthcare Foundation (CA) | NAT | Healthcare | $ 21,930,000 | 12/20/2018 | 2019 |
| Mater Academy of NV-Mtn. Vista Campus, 2018A&B | NAT | Education | $ 14,630,000 | 12/20/2018 | 2019 |
| Morgan Stanley Pool I | AZ+ | Governmental | $ 115,552,047 | 12/20/2018 | 2019 |
| Arizona Montessori Caurus Academy | AZ | Education | $ 20,710,000 | 12/28/2018 | 2019 |
| Empower | AZ | Education | $ 17,265,000 | 3/22/2019 | 2019 |
| Provident - Great Lakes Senior Living (MI OH) | NAT | Multifamily/Hlth | $ 380,185,000 | 3/28/2019 | 2019 |
| Dove Mountain Sr Living Proj Series 2019B | AZ | Multifamily | $ 32,000,000 | 3/29/2019 | 2019 |
| Elevate Housing Foundation (IL IN) | NAT | Multifamily/Hlth | $ 31,180,000 | 4/2/2019 | 2019 |
| Provident - Harlingen (TX) | NAT | Commercial | $ 32,000,000 | 4/16/2019 | 2019 |
| Kaizen II | AZ | Education | $ 12,656,456 | 4/18/2019 | 2019 |
| Doral Academy (NV), 2019A&B | NAT | Education | $ 49,855,000 | 4/24/2019 | 2019 |
| Somerset Academy (NV), 2019A&B | NAT | Education | $ 13,335,000 | 4/25/2019 | 2019 |
| Learning Foundation CAFA | AZ | Education | $ 27,860,000 | 4/30/2019 | 2019 |
| PHX Children's Hospital 2019A&B | AZ | Healthcare | $ 159,250,000 | 5/14/2019 | 2019 |
| ATAX/Avalon - Certificates (Classes A and B), 2019-1 | AZ+ | Multifamily | $ 16,364,977 | 5/20/2019 | 2019 |
| Skyline Education - Series 2019A&B | AZ | Education | $ 18,115,000 | 6/7/2019 | 2019 |
| Provident - NCCU (NC) | NAT | Multifamily | $ 109,405,000 | 6/20/2019 | 2019 |
| Harvest Gold | AZ | Manufacturing | $ 22,040,000 | 7/18/2019 | 2020 |
| Pan-American Series 2019A&B | AZ | Education | $ 31,695,000 | 7/25/2019 | 2020 |
| University of Indianapolis-Health Pavilion, 2019A&B | NAT | Healthcare | $ 15,320,000 | 8/27/2019 | 2020 |
| Equitable School Revolving Fund 2019 | AZ+ | Education | $ 92,715,000 | 8/29/2019 | 2020 |
| James Irwin Ed Foundation (CO) - Loan in ESRF 2019 | NAT | Education | $ 24,580,312 | 8/30/2019 | 2020 |
| Leman/Tucson | AZ | Education | $ 53,455,000 | 9/25/2019 | 2020 |
| Odyssey Preparatory Academy Project, Series 2019 | AZ | Education | $ 45,080,000 | 9/25/2019 | 2020 |
| Leman/Parker (CO) | NAT | Education | $ 33,505,000 | 10/1/2019 | 2020 |
| Citi Muni Certs 2019-2 | AZ+ | Multifamily | $ 312,703,783 | 10/24/2019 | 2020 |
| Arizona Christian University, 2019A&B | AZ | Education | $ 24,960,000 | 11/21/2019 | 2020 |
| Mizuho - Rosemawr | AZ | Education | $ 450,000,000 | 11/22/2019 | 2020 |
| Solterra - La Cholla | AZ | Multifamily | $ 18,500,000 | 11/22/2019 | 2020 |
| Dominium - Legends of Mesa | AZ | Multifamily | $ 51,650,000 | 11/27/2019 | 2020 |
| Academies of Math & Science, 2019 | AZ | Education | $ 41,680,000 | 12/12/2019 | 2020 |
| Mizuho - Rosewood | NAT | Healthcare | $ 115,400,000 | 1/31/2020 | 2020 |
| Candeo | AZ | Education | $ 19,600,000 | 2/13/2020 | 2020 |
| A+ Charter, 2020 | AZ | Education | $ 11,300,000 | 2/14/2020 | 2020 |
| Pinecrest Academy - Cadence (NV) | NAT | Education | $ 42,365,000 | 2/27/2020 | 2020 |
| Voyager Foundation, Inc. Project Series 2020 | AZ | Education | $ 28,545,000 | 3/2/2020 | 2020 |
| Skyline Education - Series 2020 | AZ | Education | $ 27,305,000 | 3/5/2020 | 2020 |
| Lincoln South Beltway Project (NE) | NAT | Infrastructure | $ 236,800,000 | 4/9/2020 | 2020 |
| Morgan Stanley CLN I | AZ+ | Governmental | $ 470,000,000 | 5/4/2020 | 2020 |
| Chandler Village | AZ | Multifamily | $ 25,000,000 | 6/4/2020 | 2020 |
| Arizona School for the Arts, 2020 | AZ | Education | $ 8,536,764 | 6/29/2020 | 2020 |
| Canterbury House (KY) | NAT | Multifamily | $ 12,565,000 | 7/9/2020 | 2021 |
| Parker Perf Arts (CO) | NAT | Education | $ 20,635,000 | 7/16/2020 | 2021 |
| Legacy Cares | AZ | Commercial | $ 250,770,000 | 8/20/2020 | 2021 |
| PHX Children's Hospital 2020A | AZ | Healthcare | $ 244,995,000 | 8/20/2020 | 2021 |
| Equitable School Revolving Fund 2020 | AZ+ | Education | $ 122,710,000 | 8/27/2020 | 2021 |
| Linder Village (ID) | NAT | Commercial | $ 28,515,000 | 9/2/2020 | 2021 |
| Children's National Prince George's County RMC | NAT | Healthcare | $ 52,620,000 | 9/9/2020 | 2021 |
| Pensar Academy, 2020 | AZ | Education | $ 7,180,000 | 9/16/2020 | 2021 |
| Maricopa Porfolio | AZ | Multifamily | $ 48,000,000 | 9/18/2020 | 2021 |
| Mizuho - AEP Charter Pool | AZ+ | Education | $ 182,425,000 | 9/22/2020 | 2021 |
| American Charter School Foundation, 2020 | AZ | Education | $ 6,935,726 | 10/13/2020 | 2021 |
| Doral Academy (NV), 2020A&B | NAT | Education | $ 13,840,000 | 10/14/2020 | 2021 |
| Mater Academy of Nevada - Bonanza Project 2020A | NAT | Education | $ 15,235,000 | 10/22/2020 | 2021 |
| Mizuho - FP Solar Pool | AZ+ | Commercial | $ 250,500,000 | 10/27/2020 | 2021 |
| Pinecrest Academy - Sloan Canyon (NV) 2020A-1&2,B | NAT | Education | $ 53,335,000 | 10/28/2020 | 2021 |
| AZ3 Community Partners | AZ | Multifamily | $ 33,136,000 | 12/22/2020 | 2021 |
| Mizuho - White Oak | NAT | Healthcare | $ 575,000,000 | 2/24/2021 | 2021 |
| Western Sun | AZ | Multifamily | $ 11,906,000 | 3/18/2021 | 2021 |
| Self Development Academy-Phoenix Project, Series 2021 | AZ | Education | $ 5,285,000 | 3/24/2021 | 2021 |
| Vistabella | AZ | Multifamily | $ 7,510,256 | 3/31/2021 | 2021 |
| Kachina Gardens | AZ | Multifamily | $ 5,097,000 | 4/21/2021 | 2021 |
| Dominium - Vista Ridge | AZ | Multifamily | $ 58,000,000 | 4/23/2021 | 2021 |
| Somerset Academy (NV), 2021A&B | NAT | Education | $ 33,475,000 | 5/4/2021 | 2021 |
| GreatHearts, 2021A&B | AZ | Education | $ 59,020,000 | 6/10/2021 | 2021 |
| Legacy Cares II | AZ | Commercial | $ 33,000,000 | 6/16/2021 | 2021 |
| Heritage Academy | AZ | Education | $ 69,450,000 | 7/28/2021 | 2022 |
| Colorado Military Academy (CO) | NAT | Education | $ 18,697,114 | 7/29/2021 | 2022 |
| Mizuho - White Oak II | NAT | Healthcare | $ 675,000,000 | 8/3/2021 | 2022 |
| CSREH Charter 749 Main/DuBois Acad 2021 (GA) | NAT | Education | $ 8,000,000 | 8/20/2021 | 2022 |
| Doral Academy (NV), 2021A&B | NAT | Education | $ 21,710,000 | 8/24/2021 | 2022 |
| KIPP NYC (NY) | NAT | Education | $ 238,500,000 | 8/26/2021 | 2022 |
| Provident - Great Lakes II (MI OH) | NAT | Multifamily/Hlth | $ 19,560,000 | 8/31/2021 | 2022 |
| Kingman Regional Medical Center III | AZ | Healthcare | $ 30,000,000 | 9/28/2021 | 2022 |
| Equitable School Revolving Fund 2021 | AZ+ | Education | $ 144,220,000 | 10/20/2021 | 2022 |
| PHX Children's Hospital 2021 | AZ | Healthcare | $ 150,370,000 | 11/3/2021 | 2022 |
| REE - Copa Flats | AZ | Multifamily | $ 46,000,000 | 12/15/2021 | 2022 |
| Dominium - Avaria Flats | AZ | Multifamily | $ 61,400,000 | 12/22/2021 | 2022 |
| Las Terrazas | AZ | Multifamily | $ 6,520,000 | 1/12/2022 | 2022 |
| CSC Ohio Charter Schools Portfolio Taxable Series 2022 | NAT | Education | $ 13,295,000 | 2/18/2022 | 2022 |
| Vista College Prep, 2022 | AZ | Education | $ 19,879,787 | 2/18/2022 | 2022 |
| NewLife Forest, 2022A&B | AZ | Manufacturing | $ 199,691,759 | 2/24/2022 | 2022 |
| Ball Charter School, 2022 | AZ | Education | $ 10,980,000 | 3/24/2022 | 2022 |
| Dominium - Avaria Flats II | AZ | Multifamily | $ 48,505,000 | 3/30/2022 | 2022 |
| Dominium - Casa Azure | AZ | Multifamily | $ 59,828,000 | 3/30/2022 | 2022 |
| Calibre Academy | AZ | Education | $ 13,405,000 | 4/14/2022 | 2022 |
| Pinecrest Academy (NV), 2022A&B | NAT | Education | $ 26,485,000 | 4/19/2022 | 2022 |
| Leman Mesa, 2022A,B,&C | AZ | Education | $ 79,765,000 | 4/20/2022 | 2022 |
| Southwest Behavioral Health | AZ | Healthcare | $ 10,000,000 | 5/23/2022 | 2022 |
| Academies of Math & Science, 2022 | AZ | Education | $ 6,970,000 | 5/25/2022 | 2022 |
| OneBlood (NC) | NAT | Healthcare | $ 10,200,000 | 6/24/2022 | 2022 |
| Bethany Glen | AZ | Multifamily | $ 43,747,666 | 7/29/2022 | 2023 |
| KIPP Nashville (TN), 2022A&B | NAT | Education | $ 22,245,000 | 8/10/2022 | 2023 |
| PHX Children's Hospital 2022A | AZ | Healthcare | $ 70,920,000 | 8/25/2022 | 2023 |
| Equitable School Revolving Fund 2022 | AZ+ | Education | $ 153,525,000 | 8/30/2022 | 2023 |
| Salt River Flats | AZ | Multifamily | $ 47,000,000 | 9/14/2022 | 2023 |
| Greenville University Std Hsg and Athl Facs | NAT | Education | $ 35,485,000 | 9/29/2022 | 2023 |
| PHX Children's Hospital 2022B | AZ | Healthcare | $ 20,000,000 | 10/18/2022 | 2023 |
| Roers - Solana Villas | AZ | Multifamily | $ 33,000,000 | 10/25/2022 | 2023 |
| REE - Agave House | AZ | Multifamily | $ 40,000,000 | 12/8/2022 | 2023 |
| Roers - Mesa Vista | AZ | Multifamily | $ 45,000,000 | 12/29/2022 | 2023 |
| Academies of Math & Science, 2023 | AZ | Education | $ 15,705,000 | 1/18/2023 | 2023 |
| Benjamin Franklin | AZ | Education | $ 17,755,000 | 1/25/2023 | 2023 |
| KIPP Nashville 2023 (TN) | NAT | Education | $ 50,000,000 | 3/9/2023 | 2023 |
| Gorman - Centerline I | AZ | Multifamily | $ 35,000,000 | 3/21/2023 | 2023 |
| Gorman - Centerline II | AZ | Multifamily | $ 35,000,000 | 3/21/2023 | 2023 |
| Arizona Retirement Home of Scottsdale | AZ | Multifamily | $ 8,049,000 | 7/14/2023 | 2024 |
| Dominium - Estrella Springs | AZ | Multifamily | $ 96,000,000 | 7/27/2023 | 2024 |
| Dominium - Suncrest Vista | AZ | Multifamily | $ 60,300,000 | 7/27/2023 | 2024 |
| Roers - Maricopa - Alto | AZ | Multifamily | $ 45,000,000 | 9/8/2023 | 2024 |
| Rehrig Pacific Company | AZ | Manufacturing | $ 20,000,000 | 9/14/2023 | 2024 |
| Mercy - Glendale Senior | AZ | Multifamily | $ 33,422,000 | 9/29/2023 | 2024 |
| Dominium - Marana Family - The Safford | AZ | Multifamily | $ 49,000,000 | 10/10/2023 | 2024 |
| Overland Flats | AZ | Multifamily | $ 45,000,000 | 10/16/2023 | 2024 |
| Waterman Senior Apartments | AZ | Multifamily | $ 40,000,000 | 10/16/2023 | 2024 |
| Ulysses - Dahlia Village | AZ | Multifamily | $ 24,512,000 | 10/19/2023 | 2024 |
| Mercy - Western Winds | AZ | Multifamily | $ 9,000,000 | 10/31/2023 | 2024 |
| Lincoln Avenue Capital - Cottonwood Ranch | AZ | Multifamily | $ 72,355,000 | 12/14/2023 | 2024 |
| Equitable School Revolving Fund - 2023 | AZ+ | Education | $ 280,000,000 | 12/19/2023 | 2024 |
| Mirabella at ASU | AZ | Multifamily | $ 30,410,000 | 12/20/2023 | 2024 |
| Roers - Flagstaff - Sierra on 66 | AZ | Multifamily | $ 72,235,000 | 12/21/2023 | 2024 |
| Dominium - Glendale Family - 67 Flats | AZ | Multifamily | $ 121,000,000 | 12/28/2023 | 2024 |
| Dominium - Juniper Square | AZ | Multifamily | $ 72,000,000 | 12/28/2023 | 2024 |
| TWG Unity at West Glendale | AZ | Multifamily | $ 19,382,000 | 2/22/2024 | 2024 |
