Economic Development and Financing

The Development Finance Authority… Your Independent Lender

Created in 1993, the Development Finance Authority fosters public-private partnerships to assist in the creation of jobs and community revitalization. The Development Finance Authority offers a portfolio of financing options tailored to fit individual needs.

Did you know? Since its inception, the Development Finance Authority has assisted area businesses in obtaining financing for community projects totaling $1.5 billion.

Financing options include:

• Fixed-Rate Financing Program
• Structured Leasing Program
• Infrastructure Financing Program

Fixed-Rate Financing Program

The Fixed-Rate Financing Program makes it possible for smaller businesses to access the U.S. capital market and borrow money at investment grade rates. The program also benefits many larger businesses that find an investment grade rating costly and difficult to maintain.

Additional highlights:

• Financing between $1.5 million to $6 million
• Transaction capacity may exceed $20 million when combined with other financing sources
• Financing for fixed assets, such as land, buildings and equipment
• Fixed interest rates for up to 25 years

Structured Leasing Program

The Structured Leasing Program is ideally suited for companies and nonprofit organizations that want to obtain a new facility but do not want the asset to appear on their balance sheet. This financing vehicle allows the port authority to own the facility and lease it to the company.

Additional highlights:

• 100% financing
• Lower costs for materials used in the construction of a building
• Choose from three types of leases: financing, operating or synthetic

Infrastructure Financing Program

The Infrastructure Financing Program makes it possible for developers, cities and other regional organizations to finance public infrastructure projects, such as streets, roads, underground utilities, sidewalks, street lights, landscaping and public parking garages. This type of financing is particularly attractive for mixed-use developments and can be financed using tax increment or special assessment as the revenue stream to pay for the public improvements.

Additional highlights:

• Elimination of equity
• 100% financing
• Lower costs on project materials
• Long-term financing

Contact the Finance Experts

If you want to discuss financing for your project, contact the experts in the Development Finance Authority.