Arizona Industrial Development Authority

What Arizona Industrial Development Authority does

Arizona Industrial Development Authority (Arizona IDA or AzIDA) is a nonprofit corporation and political subdivision of the State of Arizona, formed in 2016 under A.R.S. §35-701 et seq. to issue conduit revenue bonds that provide access to tax-exempt financing for qualifying projects and to administer statewide down payment assistance for homebuyers. Since inception it has originated over $10.5 billion in affordable housing loans and $2.7 billion in charter school loans, closing 112+ conduit revenue financings since 2017, and has facilitated the creation or preservation of 14,000+ affordable housing units and assisted 36,000+ homebuyers through its HOME Plus and Arizona Is Home DPA programs.

Arizona IDA operates with a lean staff of approximately 5 full-time employees plus an all-volunteer board of directors, structured around an Executive Director (Dirk Swift), Chief Financial Officer (Daniel Dialessi), Conduit Bond Business Development Officer (Carson Folk), Business Development Officer (Christian Hernandez, joined May 2026), and supporting accounting and operations staff. Its core technology is the conduit municipal bond issuance platform, which bridges development sponsors with underwriters, bond counsel, and institutional investors in the municipal bond market; the organization does not pledge taxpayer credit or taxing power and does not hold loans on its own balance sheet. Legal counsel is Kutak Rock LLP and the Independent Registered Municipal Advisor is cfX Incorporated. The organization has no API, no proprietary software platform, and no AI/ML component disclosed.

Revenue is generated entirely through fees on bond issuances: a $5,000 non-refundable application fee, a one-time 2 basis point closing fee on aggregate principal (minimum $1,000), and recurring annual administrative fees of 7.75 basis points (nonprofit/governmental) or 9.75 basis points (for-profit) on outstanding principal (minimum $3,000), plus a 2 bps surcharge for projects outside Arizona. No public funds are received, and 100% of surplus revenues are transferred to the Arizona Housing Trust Fund and Office of Economic Opportunity (approximately $60–70 million cumulatively as of 2023). Customers span affordable housing developers, charter schools, healthcare facilities (including tribal critical access hospitals), higher education (University of Arizona student housing), manufacturing (Rehrig Pacific), mining (Hudbay Minerals), municipal and county governments, tribal nations, and individual homebuyers distributed through a network of 70+ approved lenders and 300+ locations statewide.

Name

Arizona Industrial Development Authority

Legal name

Arizona Industrial Development Authority

Website

https://arizonaida.com

Company type

Private

Founded year

2016

Operating status

Operating

Short description

Arizona Industrial Development Authority (AzIDA) is a nonprofit conduit bond issuer and political subdivision of Arizona that provides tax-exempt financing for affordable housing, charter schools, healthcare, and economic development projects, and administers statewide down payment assistance programs for individual homebuyers across 70+ approved lenders.

Ownership category

akta.pro rank

Product category

Municipal Bond Financing and Affordable Housing Finance

NAICS

Administration of Housing Programs, Urban Planning, and Community Development (9251)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Down Payment Assistance (DPA) & Homebuyer Subsidy Programs (FSALAKAE)

akta.pro secondary industries

Rural, Tribal & Special-Population Housing Programs (FSALAKAL), Government-Backed CRE Lending (FHA/HUD/USDA) (FSALADAE), Regional Education Service Agencies (ESAs/BOCES/Intermediate Units) (EDADABAC)

Keywords

• Conduit bond issuance
• Affordable housing finance
• Down payment assistance
• Municipal bond financing
• Nonprofit housing authority

Headquarters

HQ city

Paradise Valley

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales

Revenue model

1. Annual Administrative Fees: Arizona IDA charges annual administrative fees on outstanding bond principal: 7.75 basis points for nonprofit and governmental applicants (minimum $3,000), and 9.75 basis points for for-profit applicants (minimum $3,000). An additional 2.00 basis points applies to projects located entirely outside Arizona.
2. Bond Closing Fees: One-time closing fee of 2 basis points of aggregate principal amount of bonds issued (minimum $1,000) due at bond closing. An upfront combined administrative and closing fee may be proposed by the applicant in lieu of ongoing fees.
3. Application Fees: Non-refundable application fee of $5,000 payable at the time of application submission. Additional fees apply for TEFRA hearings ($10,000), extension requests ($500), and recycled volume cap conversions (10 basis points, minimum $10,000).

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Arizona IDA is a nonprofit conduit issuer of tax-exempt and taxable revenue bonds under Arizona Revised Statutes 35-701 et seq., facilitating access to the municipal bond market for qualifying affordable housing, charter school, healthcare, manufacturing, and tribal projects without pledging taxpayer credit. The organization also operates statewide homebuyer down payment assistance programs (HOME Plus DPA, Arizona Is Home, and HUD Section 184 Tribal Home Loans) delivered through a network of approved mortgage lenders.

Product overview

Arizona Industrial Development Authority (Arizona IDA) is a nonprofit conduit bond issuer and housing finance authority that offers a portfolio of financial products centered around affordable housing development and homeownership assistance. Its core offerings include conduit revenue bond financing for developers and the HOME Plus and Arizona Is Home down payment assistance programs for homebuyers. The organization also administers multifamily housing bond recycling and expanded in 2025 to include HUD Section 184 Tribal Home Loans. Arizona IDA does not offer a technology product or platform but rather financial services and programs.

Differentiator

Problem solved

Functional benefit

Brands

• HOME Plus DPA Program: Down payment assistance program offering up to 4% in assistance paired with 30-year fixed-rate mortgages for Arizona homebuyers.
• Arizona Is Home

Products and services

• Conduit Revenue Bond Financing Tax-exempt and taxable conduit revenue bond issuance on behalf of qualifying public and private borrowers. Arizona IDA issues the bonds and assigns repayment obligation to the borrower, with no pledge of state or taxpayer credit. Used by affordable housing developers, charter schools, healthcare facilities, manufacturing companies, and tribal entities across Arizona (and select out-of-state projects subject to a 2 bps surcharge).
• HOME Plus Down Payment Assistance Program Statewide down payment assistance program offering up to 4% assistance as a second lien on a 30-year fixed-rate mortgage. The assistance is forgivable on the fifth anniversary or repayable upon sale/refinance. Distributed exclusively through 70+ approved lenders with 300+ locations. Has helped over 36,000 Arizona homebuyers become homeowners since inception.
• Arizona Is Home Down Payment Assistance Program Mortgage Revenue Bond (MRB) down payment assistance program for first-time and moderate-income Arizona homebuyers. Expanded in 2025 to include HUD Section 184 Tribal Home Loans with 4% down payment assistance for enrolled tribal members. Administered with support from cfX Incorporated as IRMA.
• HUD Section 184 Tribal Home Loans Down Payment Assistance Tribal-specific down payment assistance program offering 4% assistance for Native American tribe members who are enrolled members of a federally recognized tribe, paired with HUD Section 184 Tribal Home Loans. Provides lower down payment requirements and reduced mortgage insurance, expanding Arizona IDA's reach to Arizona's 22 federally recognized tribes.
• Multifamily Housing Bond Recycling Program Recycling program for private activity bond volume cap dedicated to multifamily housing projects. Developers can request recycled allocations through a dedicated application on the Arizona IDA website, enabling additional bond capacity beyond annual volume cap limits.

Quantifiable outcome

• Over $10.5 billion in affordable housing loans and $2.7 billion in charter school loans originated since 2016
• +6 more outcomes

Named customers13 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

18 partnerships are on record, tiered core, major and minor.

• Ulysses Development GroupcoreStrategic or Co-development Partner · 29 April 2026Arizona IDA provided $34.5 million in tax-exempt bonds for Salt River Flats 2, a 168-unit affordable housing community in Phoenix. UDG is the development partner responsible for construction and project management. UDG has developed 870 units in Arizona with Arizona IDA financing, including Salt River Flats, Dahlia Village, The Acacia at Youngtown, and Wild Rose Flats.
• Governor Katie HobbsmajorStrategic or Co-development Partner · 29 April 2026Governor Katie Hobbs attended and celebrated the groundbreaking of Salt River Flats 2 alongside Arizona IDA and Ulysses Development Group. The Governor has publicly endorsed Arizona IDA's programs, including referencing Arizona Is Home in her 2025 State of the State address, and announced doubling of Arizona Is Home recipients for 2025.
• Sage Memorial Hospital / Navajo Health FoundationcoreStrategic or Co-development Partner · 7 December 2025Arizona IDA served as conduit bond issuer for the $80 million expansion of Sage Memorial Hospital in Ganado, Arizona (Navajo Nation). The new 140,000-square-foot critical access hospital opened August 2024, serving approximately 20,000 people. Sage Memorial is governed by an all-Navajo board of directors, making this one of the first hospital bond transactions of its kind for a fully indigenous governing board.
• Dominium HoldingscoreStrategic or Co-development Partner · 12 November 2025Arizona IDA acted as bond issuer for multiple Dominium projects: Estrella Springs (396 units, $96M bonds) and Suncrest Vista (261 units, $60.3M bonds) in Goodyear; Allasso Ranch (304 units in Surprise); Juniper Square (221 units, Glendale); 67 Flats (384 units, Glendale); Saddleback Village at Stonegate (215 units, Maricopa); Arterra family complex (388 units, Surprise) and Orchard Springs senior development (211 units, Surprise). Dominium manages over 38,000 apartments in 19 states and is investing over $1 billion in Arizona affordable housing.
• City of GoodyearmajorStrategic or Co-development Partner · 12 November 2025Arizona IDA partnered with the City of Goodyear to issue bonds for Estrella Springs (396 units) and Suncrest Vista (261 units) at Canyon Trails. The city collaborated on site approval and development coordination for these two major affordable housing developments in one of Arizona's fastest-growing municipalities.
• City of PhoenixcoreStrategic or Co-development Partner · 12 November 2025City of Phoenix provided $1M in ARPA funds for Dahlia Village (126 units), participated in the Fort Whipple project on the Prescott VA campus, and collaborated with Arizona IDA on multiple housing initiatives. Phoenix faces a housing deficit of nearly 18,000 units and is a primary geography for Arizona IDA's affordable housing financing.
• Kutak Rock LLPcoreImplementation/ SI/ Consulting Partner · 12 November 2025Kutak Rock LLP serves as Arizona IDA's legal counsel, providing legal services for bond transactions, document review, and governance. The firm is located at 8601 North Scottsdale Road, Suite #300, Scottsdale, AZ 85253-2738. Kutak Rock reviews bond documents and provides legal opinions for conduit bond issuances.
• Roers CompaniesmajorStrategic or Co-development Partner · 12 November 2025Arizona IDA served as bond issuer for Sierra on 66 in Flagstaff — 221 new apartment units for individuals and families with low to moderate incomes in Coconino County. Roers Companies is a national affordable housing developer that also developed Solana Villas (200 units in Buckeye).
• Lincoln Avenue CommunitiescoreStrategic or Co-development Partner · 29 July 2025Arizona IDA supported The Ranches at Gunsmoke (271 units) and Ironwood Ranch (252 units) in Maricopa — together bringing 523 affordable homes. The Ranches at Gunsmoke is the nation's first large-scale affordable single-family build-to-rent community using 4% LIHTC. Lincoln Avenue Communities is based in Santa Monica, California.
• Wespac Residential Inc.minorStrategic or Co-development Partner · 30 June 2025Arizona IDA supported The Villas on Shelby in Sedona — a 30-unit affordable housing project representing Sedona's first affordable housing project to receive federal low-income housing tax credit funding. Wespac Residential Inc. is the construction management firm responsible for building the three-story, 30-unit complex on city-owned land.
• Gorman & Company ArizonacoreStrategic or Co-development Partner · 16 May 2025Arizona IDA supported the $41 million Fort Whipple housing complex on the Prescott VA campus (103 units for homeless and at-risk veterans) as well as the $120 million Centerline on Glendale project ($70M bonds, 368 units). Gorman & Company is a national leader in affordable, workforce, public, veteran, and senior housing headquartered in Wisconsin with Arizona operations.
• U.S. VETS PrescottmajorStrategic or Co-development Partner · 16 May 2025Arizona IDA supported the $41 million Fort Whipple project providing 103 units of permanent supportive housing for homeless and at-risk senior veterans on the Northern Arizona VA Health Care System campus in Prescott. U.S. VETS Prescott provides supportive services including mental health programs, peer support, employment assistance, transportation, and case management for veteran tenants.
• Arizona Department of HousingcoreStrategic or Co-development Partner · 1 March 2025Arizona IDA works closely with ADOH on affordable housing financing, including coordination on Low Income Housing Tax Credit (LIHTC) applications, State Housing Trust Fund awards, and joint project approvals. ADOH provided $23.5M in federal LIHTC and $2.5M in State Housing Trust Funds for Salt River Flats 2, and $46.3M in LIHTC for Saddleback Village at Stonegate. ADOH plays a central role in funding allocation and compliance oversight across Arizona IDA projects.
• Maricopa CountymajorStrategic or Co-development Partner · 1 March 2025Maricopa County has a $500 million affordable housing initiative and contributed to multiple Arizona IDA projects. The county provided $17 million budget for affordable housing projects including Salt River Flats, and $2 million federal ARPA investment for Solana Villas (200 units in Buckeye). County supervisors attend groundbreakings and grand openings.
• Native Community CapitalmajorStrategic or Co-development Partner · 1 March 2025David N. Castillo, CEO of Native Community Capital, serves as Arizona IDA Board Vice President, providing strategic leadership on tribal partnerships. Native Community Capital works to expand homeownership and economic development financing for tribal communities, supporting Arizona IDA's expanded focus on tribal housing and healthcare projects including the Sage Memorial Hospital bond transaction.
• Kaufman HallcoreStrategic or Co-development Partner · 18 December 2024Kaufman Hall served as a structuring partner alongside Arizona IDA on the $80 million hospital revenue bond transaction for Sage Memorial Hospital within the Navajo Nation. This award-winning transaction recapitalized construction of a new 140,000-square-foot critical access hospital and won The Bond Buyer's National Deal of the Year Award 2025.
• cfX IncorporatedcoreImplementation/ SI/ Consulting Partner · 18 December 2024cfX Incorporated serves as Arizona IDA's Independent Registered Municipal Advisor (IRMA) as defined by SEC Rule 15B. The firm provides advice on evaluating proposals regarding structure, timing, and terms for municipal securities and municipal financial products. Arizona IDA publicly posts this disclosure to enable market participants to use the IRMA exclusion under SEC rules.
• Mercy Housing Inc.majorStrategic or Co-development Partner · 26 October 2024Arizona IDA approved $35 million in bonds for Mercy Housing's Glendale Senior Apartments (148 units for seniors 62+, including units for those transitioning out of homelessness or living with disabilities, with emphasis on veterans). Mercy Housing has been developing affordable housing for over 40 years. Arizona IDA also supported The Cascalote (148 affordable senior units in Glendale, grand opening October 2025).

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Texas Department of Housing and Community Affairs (TDHCA): TDHCA administers Texas state housing programs including multifamily bond issuance and homebuyer assistance. Its scale of LIHTC bond issuance and DPA program design closely track Arizona IDA's core housing finance role.
• Colorado Housing and Finance Authority (CHFA): CHFA is a state housing finance agency offering down payment assistance, multifamily financing, and mortgage revenue bonds for Colorado residents. Its DPA and multifamily bond programs mirror Arizona IDA's HOME Plus, Arizona Is Home, and 4% LIHTC bond issuance operations.
• Nebraska Investment Finance Authority (NIFA): NIFA is a state conduit issuer in Nebraska providing tax-exempt bond financing for affordable housing, education, healthcare, and economic development. It has worked with Arizona IDA on the award-winning Lincoln South Beltway financing, evidencing direct peer-level collaboration on complex deals.
• California Pollution Control Financing Authority (CPCFA): CPCFA is a California state conduit issuer focused on industrial and environmental projects. It shares Arizona IDA's conduit-bond issuance model under statutory authority, though it specializes in pollution control and industrial deals rather than housing.
• New York City Industrial Development Agency (NYCIDA): NYCIDA is the largest municipal conduit bond issuer in the U.S., issuing tax-exempt and taxable revenue bonds for nonprofit, commercial, and industrial projects within New York City. It is directly comparable to Arizona IDA as a political-subdivision conduit issuer providing lower-cost financing across housing, education, healthcare, and economic development.
• California Housing Finance Agency (CalHFA): CalHFA is California's state housing finance agency providing down payment assistance and multifamily revenue bond financing. It overlaps Arizona IDA's affordable housing and DPA segments directly and operates at meaningfully greater scale.
• Kentucky Economic Development Finance Authority (KEDFA): KEDFA is a state-level authority that issues conduit revenue bonds for industrial, healthcare, education, and housing projects in Kentucky. Its scope, fee-based revenue model, and statutory authority closely parallel those of Arizona IDA, making it a strong structural peer.
• Missouri Health and Educational Facilities Authority (MOHEFA): MOHEFA issues tax-exempt conduit revenue bonds primarily for healthcare and educational institutions in Missouri. Arizona IDA has a comparable healthcare and charter school vertical, making MOHEFA a relevant peer on those deal categories.

Broad incumbents

• Fannie Mae: Fannie Mae is a federal housing finance giant providing liquidity and credit enhancement for mortgage markets. While not a direct conduit issuer, it is a broad incumbent shaping the affordable housing finance ecosystem in which Arizona IDA's LIHTC and DPA programs operate.
• Public Finance Authority (PFA): PFA is a national conduit bond issuer that competes with state IDAs for large issuances across multiple states. It is an adjacent broad incumbent in the same conduit issuance space as Arizona IDA, though not restricted to a single geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/arizonaida
• Facebookfacebook.com/TheAZIDA
• LinkedInlinkedin.com/company/arizonaida
• Instagraminstagram.com/thearizonaida

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arizona Industrial Development Authority