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Greater Arizona Development Authority (GADA) Williams Justice CenterSahuarita Town HallNorthwest Fire DistrictCoolidge Police Dept. Meeting the Infrastructure.

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Presentation on theme: "Greater Arizona Development Authority (GADA) Williams Justice CenterSahuarita Town HallNorthwest Fire DistrictCoolidge Police Dept. Meeting the Infrastructure."— Presentation transcript:

1 Greater Arizona Development Authority (GADA) Williams Justice CenterSahuarita Town HallNorthwest Fire DistrictCoolidge Police Dept. Meeting the Infrastructure Needs of Small, Rural and Tribal Communities in Arizona League of Arizona Cities and Towns Rural Economic Development Tools and Programs for Infrastructure August 21, 2014

2 GREATER ARIZONA DEVELOPMENT AUTHORITY (GADA) GADA enables small communities to affordably finance critical infrastructure projects.  GADA’s mission is to assist Arizona communities with the development of public infrastructure projects that enhance community and economic development.  GADA’s goals are to lower the cost of financing and help accelerate project development for public facilities owned, operated and maintained by a political subdivision, special district or Indian tribe.  To accomplish these goals, GADA is authorized under statute to offer both financial and technical assistance programs.  Since its creation in 1997, GADA has leveraged initial funding of $20 million to fund $575 million in public infrastructure investment via 84 projects across the State.

3 GREATER ARIZONA DEVELOPMENT AUTHORITY (GADA) These infrastructure projects, defined by State law, exist for public use. Infrastructure is defined as: “Any land, building or other improvement and equipment or other personal property that will make up part of a facility that is located in this State for public use and that is owned by a political subdivision, special district or Indian tribe that retains ultimate responsibility for its operation and maintenance”. (ARS )

4 GREATER ARIZONA DEVELOPMENT AUTHORITY (GADA) (1) Includes $63 million road project for Pinal County in projects 11 projects 12 projects22 projects11 projects 12 projects 6 projects

5 GREATER ARIZONA DEVELOPMENT AUTHORITY (GADA) GADA financing significantly reduces loan costs for our communities.  GADA improves access to capital markets for communities with low- and non-investment grade bond ratings.  GADA can, when available, subsidize up to 50% of the cost of issuance (COI). Fees included in COI generally cover bond counsel, financial advisors, refunding fees and bond insurance, where applicable.  GADA can, when available, finance technical assistance, up to $250,000, over a 3-year repayment period.

6 Greater Arizona Development Authority (GADA) Williams Justice CenterSahuarita Town HallNorthwest Fire DistrictCoolidge Police Dept. Examples of GADA Projects

7 Cottonwood SCOPE 2000 Wash Flood Control $895, Public Safety Building $2.5 million 2007 Miscellaneous Capital Improvements (Including library and recreation center) $19.9 million RESULTS Utilizing GADA’s ratings along with subsidies resulted in savings of $588,000, or 2.5% of total project cost. TESTIMONIALS Finance manager found GADA “easy” to work with. Projects met urgent need to reduce flooding, solved over-crowding for police and fire personnel and provided a highly utilized recreation facility. Projects provided for a 20% - 30% increase in public safety personnel, 4 new full-time jobs and numerous summer job opportunities at the recreation facility. $23.3 million in GADA Financing * Population 11,265

8 Williams SCOPE 2003 Debt Refinancing and Capital Projects $3.59 million 2005 Transportation Improvements $1.5 million 2008 Transportation Improvements $3.0 million RESULTS Utilizing GADA’s ratings along with subsidies resulted in savings of $1.04 million, or 12.9% of total project cost. TESTIMONIALS Finance manager found GADA staff “very helpful”, financings ran “smoothly”. Road repairs and expansions resulted in RV park and restaurant near Grand Canyon Railway. Made it possible for KC HiLites to stay in Williams. Finance manager would look to GADA for future financings. $8.1 million in GADA Financing * Population 3,295

9 Mayer SCOPE 2007 Fire Facilities and Equipment $745, Capital Equipment $180,000 RESULTS Utilizing GADA’s ratings along with subsidies resulted in savings of $221,000, or 23.9% of total project cost. TESTIMONIALS Finance manager found GADA “easy” to work with. Finance manager felt the program had the interest of small, rural community at heart. Previous fire facility had been condemned by the county. Finance manager offered to publicly promote GADA program. $925,000 in GADA Financing * Population 1,408

10 GREATER ARIZONA DEVELOPMENT AUTHORITY (GADA) What types of infrastructure could GADA support in my community?  Feasibility studies, land acquisition and improvements, easements, road widening and improvement to support Broadband installation  Road and other capital improvements to support growth in the six border points of entry between Arizona and Mexico  Infrastructure improvements to attract and retain mining operations  Land acquisition and building construction/improvements for community colleges

11 GREATER ARIZONA DEVELOPMENT AUTHORITY (GADA) How can I find out more about GADA?  Visit the GADA website at  Contact: Julia Richard, Senior Development Manager Direct: (602) Office: (602)


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