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Industrial Development Authority outlines near‑term projects, loans and programs aimed at economic growth
Summary
Dimitri Simonton, president of the Industrial Development Authority (IDA) of Sierra Vista, presented a wide-ranging update on the IDA’s bond activity, small loans, community investments and programs to attract private‑sector growth in the region.
Dimitri Simonton, president of the Industrial Development Authority of the City of Sierra Vista, gave the council a broad update on the IDA’s recent activity and plans. He described the IDA as a political subdivision that generates funds by issuing bonds (including tax‑exempt revenue and private activity bonds) rather than by taxing, and said the board has aimed to be competitive on basis points and speed of approvals.
Simonton said the IDA has helped finance local apartment complexes in…
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