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What is The Industrial Development Authority of the City of Tucson, Arizona (Tucson IDA)?

April 26, 2017Arizona authority city Development Ida industrial Tucson

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What is The Industrial Development Authority of the City of Tucson, Arizona (Tucson IDA)?

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• By law, Tucson IDA is a non-profit corporation designated a political subdivision of the State of Arizona. • Tucson IDA receives no federal, state, county, or City funds. • Tucson IDA has no taxing power. • Tucson IDA acts solely as a conduit issuer it is not the lender. • By law, the jurisdiction of Tucson IDA includes the entire State of Arizona (except for multifamily projects which must be in the City of Tucson). • Bonds issued by Tucson IDA are not a charge against the general credit of the Tucson IDA, the City of Tucson or the State of Arizona. • Tucson IDA has no power of Eminent Domain.