THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF SIERRA VISTA
EXTRAORDINARY OPPORTUNITIES
UNCOMMON PARTNERSHIPS
The Industrial Development Authority of the City of Sierra Vista is an entrepreneurial nonprofit that draws upon its decades of experience and proven record of accomplishments to support community and economic development through access to capital. The organization’s primary goal in the city is to positively impact vulnerable populations and under-served communities through multiple strategies such as bond financing, community investment, and down payment assistance to advance home-ownership.
BOND FINANCING
The IDA serves as a conduit issuer of private activity bonds, which attract private investment to finance projects that provide a public benefit.
The IDA can issued bonds for a broad range undertakings such as educational facilities, healthcare facilities, multifamily housing projects, and nonprofit organizations.
HOME OWNERSHIP
The IDA advances responsible low- to moderate-income home-ownership through various programs to strengthen communities and the economy. Programs include the Home in Five Advantage program that offers home-buyers competitively priced loans through local lenders for new or existing homes, in addition to 3 percent down payment and closing assistance.
COMMUNITY DEVELOPMENT FUND
The IDA Board of Directors established the Community Development Fund to make investments in community programs and projects that benefit and support the city of Sierra Vista and its residents.
COMMUNITY IMPACT INVESTMENTS
The organization pursues investment opportunities to achieve a community and social impact or to realize a return on capital. Community and social impact investments are primarily focused on job creation, business attraction, retention, enabling of innovation, improvement of human services, expansion of home ownership opportunities, and improvements in education.
The IDA owns 133 affordable housing units and administers outstanding multi -family bonds on an additional 592 units of which 20% have been set aside for very low income people.
The IDA and SHRP have created 330 affordable housing units for the Sierra Vista Community including 118 units which are set aside for very low income in properties throughout the community.
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF SIERRA VISTA
MISSION
The mission of The Industrial Development Authority of the City of Sierra Vista is to foster affordable housing, generate economic development within Sierra Vista and improve the standard and quality of living for Sierra Vista residents.