(2) Growth of this device stalled in the early 1990s, when excess downtown development created a drag on the real estate market, but since then its use has boomed, both as a replacement source of funding for diminishing federal monies and in response to the restrictions placed on industrial revenue bonds
. Tax increment financing involves the use of municipal bonds backed by anticipated increases in property tax revenues that occurs with new development to finance economic development projects.
As a strategic partner to the CEO, setting overall direction for the company, Bill is responsible for all financial functions, including strategic planning, communications with shareholders, cost estimating and product pricing, financial risk, accounting policy and procedures, treasury management, lender relationships, debt, industrial revenue bonds
, budgets, forecasts, and taxes.
The parent company, Flint Hills Resources LLC, rated A+/Stable/A-1, remains the guarantor of Flint Hills Resources LP's rated industrial revenue bonds
, S&P said..
We are debt-free and have never received any loans, financial grants or industrial revenue bonds
from any governmental agency.
Inducements from the IDA for this project could include financing of the project through tax-exempt Yonkers Industrial Revenue Bonds
(IRB), a sales and use tax exemption for materials and equipment used in construction, a mortgage recording tax exemptions, and a structured property tax agreement.
Most state and local governments offer industrial revenue bonds
, a loan to a company to build or buy a facility or buy land and/or equipment, as a way to encourage relocations and expansions of companies to provide jobs and help local communities.
Expands Definition of Industrial Revenue Bonds
. The new law expands the definition of "manufacturing facility" to include facilities used for the manufacturing, creation, or production of intangible property Until now, Industrial Revenue Bonds
have only been able to be issued for the manufacturing of tangible property.
Ritter said that some business owners have had to pay more interest on their loans, but overall, the properties tend to receive financing by industrial revenue bonds
-- government-issued bonds that have remained pretty much unaffected by the credit crunch.
For more information on IDA/IRB Bonds, go to the state government website and look for Industrial Revenue Bonds
Like many other Southern industrial facilities abandoned by owners seeking better deals elsewhere, it closed before the industrial revenue bonds
were paid off.
Many of its food community partners benefit from low-interest industrial revenue bonds
and SBA 504 fixed rate loans facilitated by the Central Florida Development Council.
According to RFA, financing for the expansion is being provided through industrial revenue bonds
approved and issued by the city of Portales.