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WHAT IS THE TUCSON IDA?
The Industrial Development Authority of the City of Tucson, Arizona (the "IDA"), is a non-profit corporation, designated as a political subdivision of the State of Arizona (the "State"), authorized to provide lower cost financing for qualified Projects through the issuance of revenue bonds ("Bonds"). The IDA's Bonds are exempt from Arizona income taxation. Similarly, the Bonds may be tax-exempt from federal income taxation, provided that the Bonds are issued in compliance with the requirements of the Internal Revenue Code of 1986, as amended (the "Code").
The IDA provides financing of community development projects whenever appropriate and where traditional sources of funding may be unavailable. The IDA also assists first time single family home buyers through its Mortgage Revenue Bond and Mortgage Credit Certificate Programs.
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WHO IS THE IDA?
The IDA’s Board of Directors is comprised of private, volunteer citizens appointed by the Mayor and Council of the City of Tucson, Arizona (the “City”). Members of the IDA’s Board of Directors cannot be officers or employees of the City of Tucson, Arizona. The Board of Directors meets monthly or as otherwise necessary. Directors serve a 6-year term. The members of the IDA’s current Board of Directors are:
INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF TUCSON
BOARD OF DIRECTORS
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MEMBERS
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APPOINTMENT
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EXPIRATION
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Christopher F. Carroll
Assistant Secretary
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9/15/97 |
3/9/09 |
Ben Buehler-Garcia
Treasurer
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4/19/99 |
3/12/11 |
Michael Hammond
Vice President
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4/19/99 |
3/12/11 |
Marilyn Robinson
Secretary
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3/13/01 |
3/12/11 |
Jaime Gutierrez
President
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3/13/01 |
3/12/07 |
Sonia Trejo
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3/13/01 |
3/12/07 |
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