Arizona's Industrial Development Authority (IDA) bonds:
Question & Answer
Review the question and all answer choices
Are only for commercial property
Option A is incorrect because IDA bonds are not exclusively for commercial property. While they can finance commercial projects, their scope includes residential financing options for qualified homebuyers.
Can provide low-interest home financing
Are federal programs
Option C is incorrect because IDA bonds are state and local programs, not federal programs. They are issued by state authorities to stimulate economic development within that state.
Are no longer available
Option D is incorrect because IDA bonds remain available in Arizona and many other states as a financing tool for economic development and affordable housing initiatives.
Why is this correct?
Option B is correct because Arizona's IDA bonds specifically include provisions for providing low-interest financing to qualified homebuyers, making them an affordable housing tool as well as a commercial development financing mechanism.
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