The Phoenix IDA's primary goal is to positively impact vulnerable populations and underserved communities through multiple strategies such as bond financing, investments, and down payment assistance to advance homeownership. We are proud to share our successes.
The Phoenix IDA serves as a conduit issuer of private activity bonds, which attract private investment to finance projects that provide a public benefit. The Phoenix IDA issued more than $2.1 billion in bonds between 2009-2018 for a broad range and scope of undertakings including educational and healthcare facilities, multifamily housing complexes, and nonprofit-related projects.
View our bond transactions.
The Phoenix IDA advances responsible low- to moderate-income homeownership through various programs to strengthen communities and the economy. Programs include the Home in Five Advantage program, which offers homebuyers competitively priced loans through local lenders for new or existing homes, in addition to up to 7 percent down payment and closing cost assistance.
- US Bank recognized the Home in Five Advantage program as its third most successful down payment assistance program across the nation behind only California and Nevada.
- Raymond James Financial, a Fortune 500 company, and a partner in our Home in Five Advantage program, showcased the impact of our collaboration in the Raymond James National Annual Report 2016.
The Phoenix IDA Board of Directors established the Community Development Fund to make investments in projects that benefit Phoenix residents. So far in 2019, the Phoenix IDA has granted $480,000 to nonprofit organizations for programs that advance education, health innovations, and community and economic development. A majority of grant awards are decided through a competitive application process administered by the Arizona Community Foundation.
View our awards to Phoenix nonprofits.