Application Guidelines and Application

As a matter of policy, The Authority will analyze each proposed financing for any project based on the following: 

1.    Public Purpose.    The Applicant must satisfactorily demonstrate to The Authority and staff the public purpose and benefit of the Project.

2.    Indemnification.  The Authority, its officers and directors and the City of Phoenix must be provided with full indemnification in connection with the issuance and sale of the Bonds, in form and substance satisfactory to The Authority and its Legal Counsel, from an acceptable credit-worthy source. 

3.    Applicant’s Ability to Pay Debt Service.  The Applicant must satisfactorily demonstrate to The Authority and staff its financial ability to pay the principal and interest on the Bonds when due.

4.    Project Viability.  The Applicant must satisfactorily demonstrate to The Authority and staff the financial ability of the Project to operate as a going concern.

5.    Equity Contribution.  Each Applicant is required to make an equity contribution in form and amount (ordinarily 10% of the projects costs) acceptable to The Authority, unless waived.

6.     Consistency with City’s Plans.  The Project must be consistent with the long-term development and redevelopment plans of the City of Phoenix or applicable jurisdiction.

7.    Affirmative Action.  The Applicant must comply with either Article IV or V of Chapter 18 of the City Code, and register to do business with the City of Phoenix, by submitting the affirmative action reporting form (Affirmative Action Requirements Form – Attached). 

8.    Registration of Property.  The Applicant must register its properties with the Maricopa County Assessor’s Office as required by A.R.S. §33-1901 and §33-1902. 

9.    Equal Opportunity Employer.  The Applicant must maintain certification as an Equal Opportunity Employer through the City of Phoenix Equal Opportunity Department for the term of the Bonds.

10.   Marketing Opportunities.  The Applicant agrees to facilitate coordination of marketing opportunities with The Authority following the issuance of the Bonds for the Project. 

11.   Neighborhood Preservation Ordinance.  The Applicant must agree to maintain the project in conformance with the Neighborhood Preservation Ordinance of the City of Phoenix (City Code:  Chapter 39 Neighborhood Preservation Ordinance:  Ordinance No. G-3859)  [website:  phoenix.gov link:  City Code]. 

12.   Trustee Appointment.  The Applicant must appoint a trustee acceptable to the Authority to fulfill certain duties set forth in the legal proceedings, including record keeping and reporting.  The trustee must be qualified to do business in the State of Arizona. 

13.    Employment Creation.  The Applicant must submit an Employment Plan (Form of IDA Employment Plan Guide – Attached) and must agree to provide annual employment information in form and substance satisfactory to the City of Phoenix Community and Economic Development Department. 

Procedural Pamphlet

Application for Bond Financing

For questions or additional information please contact Wendy Gutierrez at (602) 534-5888 or  wendy.gutierrez@phoenix.gov.