Industrial Development Authority
About The Industrial Development Authority of the City of Scottsdale, Arizona
The Industrial Development Authority of the City of Scottsdale, Arizona (IDA) is a nonprofit corporation designated a political subdivision of the State of Arizona. The IDA was incorporated on June 15, 1984 and its formation was approved by the Scottsdale City Council. The IDA has the legal ability to issue taxable and tax-exempt revenue bonds for projects permitted by Arizona law. Financing undertaken by the IDA often results in below market interest rates. Projects approved by the IDA are subject to final approval by the Scottsdale City Council.
The IDA is committed to expanding economic development and business enterprise for the City of Scottsdale, Arizona. The primary mission of the IDA is to promote the retention, expansion and attraction of businesses and commercial enterprises in the City of Scottsdale and to expand employment opportunities.In addition, the IDA supports community programs that enhance the City of Scottsdale through the IDA’s Monetary Funds Program.
The governing body of the IDA consists of a seven (7) member Board of Directors. All members of the Board of Directors of the IDA are appointed by the Scottsdale City Council. Officers of the IDA are elected by the Board of Directors.
- Regular meetings are generally held on the second Wednesday of each month
- An annual meeting is held on second Wednesday of June of each year
- The Board of Directors are:
- Marc Grayson, President
- Jay Berens, Vice President
- Marc Blonstein, Treasurer
- Jon Musial, Member
- Ronald F. Finkel, Secretary
- Russell Kolsrud, Member
- David Gulino, Member