1979 – The IDA leased a site to Estes Homes to build a 24,000 sq. ft. industrial building in Crossroads Commerce Center. The property was eventually acquired by Bella Vista Ranches.
1981 – The IDA issued Industrial Revenue Bonds for the construction of Inland Motors.
1983 – 1986 – Hosted trade delegations from France, Germany, Korea, Japan and Canada and courted industrial prospects from Germany, Japan and Canada
1983 – 1985 – Developed marketing material and ad campaigns that ran in state and national journals.
OUR HISTORY & ACHIEVEMENTS
History and projects completed by the Industrial Development Authority.
1984 – Garden Plaza Apartments (152 units)
1985 – Falcon Court Apartments (112 units)
1986 – Garden Canyon (Now Sterling Point) (102 units)
1986 – Mountain Steppes Apartments (228 units)
1986 – Sierra Vista Life Care Facility on Wilcox
1996 – Sierra Vista Hospital Expansion ($10,415,000)
1985 – As a marketing strategy to develop national marketing exposure, secured land from the Cracciolo Family and created one of Arizona’s first Foreign Trade Zones.
1985 – Formed the Sierra Vista Economic Development Foundation and facilitated the board selection, incorporation, and established it’s first office.
1993 – 1998
Mortgage Revenue Bond Refundings
1993 – Mountain View Apartments
1998 – Falcon Court Apartments
1998 – Garden Plaza Apartments
1998 – Garden Canyon Apartments
1998 – Mountain Steppes Apartments
Worked with the SV EDF to locate Cristek and revitalize West End; lent funds to refurbish 55 S. Fifth St., now home to Lockheed and General Dynamics.
The IDA established Sierra Housing Resource Partner, Inc. (SHRP) – as a 501(c)3 for the purpose of developing low income housing in the greater Sierra Vista area. Today SHRP is under development of Crossing Point, an 80 unit single family subdivision for first time home buyers. Crossing Point is located on the old railroad right-of-way between 7th Street and Canyon Drive.
In 2005 the IDA began its partnership with Equity Housing Group and Catholic Community Services to construct Crystal Creek Townhomes.
Today, Crystal Creek is home to 89 low income families and a one year waiting list for new Residents.
Issued $5.5 Million in financing for SEABHS
In October of 2009, the IDA, in partnership with a local company, acquired 6049 S. Highway 92 for the purpose of locating KBS Electrical Distributors who supplies large electrical transmission equipment to SSVEC.
The building currently has 5,400 sq.ft. of quality office space available with an incentive rate which can help lure a new company to Sierra Vista or facilitate the start up of a new business that will create new employment opportunities.
In 2010 SHRP received a grant from the Federal Home Loan Bank for $1,350,000 to complete the engineering and off site improvements for Crossing Point. It also secured a bridge loan from the Rural Community Assistance Corporation to complete both the off sites and a construction line of credit to build the homes.
Municipal Advisor Disclaimer
Website Not to be Construed as Providing Advice Concerning Municipal Securities.
The IDA of the City of Sierra Vista is a conduit issuer of revenue bonds and none of The IDA of the City of Sierra Vista , the Board of Directors, Sierra Vista, its Council Member or The IDA of the City of Sierra Vista'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 IDA of the city of Sierra Vista 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 nothing herein shall be interpreted to the contrary. The IDA of the City of Sierra Vista is not registered as a municipal advisor and does not intend to so register.
Nothing in or relating to the website of The IDA of the City of Sierra Vista, nor any action taken by The IDA of the City of Sierra Vista, nor any statement or document signed by any member of the Board of Directors, City of Sierra Vista (as The IDA of the City of Sierra Vista governing body) or The IDA of the City of Sierra Vista's counsel in connection with any issuance of the Bonds, is intended to provide, and shall not be construed as providing, advice of any kind to any Borrower with respect to the issuance of Bonds for purposes of 15 U.S.C. Section 780-4(e)(4)(A)(i).
Bond Issue List
Date of Issue
Name of Issue