Cabot Commerce Center Flex/Industrial Space on the NEC Loop 101/Cactus 172,000+/- SF available in 3 buildings
The Peoria Industrial Development Authority provides tax-exempt financing through industrial revenue bonds for the financing or refinancing of the cost of acquisition, construction, improvement, rehabilitation or equipping of a project.
Generally speaking, the proceeds of the bonds can be used for either the purchase or lease of land, buildings, machinery or equipment which is suitable for:
The PIDA is a “conduit” lender. It does not directly loan its own funds, but rather, “passes funds through” from third parties that purchase the PIDA’s bonds and loan them to the PIDA’s borrowers. Under the Internal Revenue Code, interest paid on these qualified loans is, generally speaking, excluded from gross income when calculating Federal and State of Arizona tax liability. The bonds are either sold to the public or privately placed with financial institutions. Often, the company can work with its own bank to secure the bond financing. The bond proceeds can be used to finance capital expenditures made in connection with qualified projects.