SIDA is one of ten regional economic development authorities throughout Illinois. Collectively, these RDA’s serve 91 of the 102 counties in Illinois and have been operational for over 20 years.
A brief overview of the SIDA Bonds
DOUBLE TAX-EXEMPT status to a manufacturing company to finance the acquisition of fixed assets including land, buildings, machinery, and equipment.
DOUBLE TAX-EXEMPT status to a Developer, private for-profit or not-for-profit to finance low-income or senior housing projects.
DOUBLE TAX-EXEMPT status on to an NFP 501(c) (3) company to finance the acquisition of fixed assets including land, buildings, machinery, and equipment.
DOUBLE Tax-Exempt status on to a public school district to finance a building project or other capital project. Interest on the bonds is not subject to state or federal income taxes.
Exempt facilities include Docks and Wharfs. The project can include the acquisition of fixed assets including land, buildings, and equipment.
The program allows DOUBLE tax-exempt status to finance the acquisition of fixed assets including land, buildings, machinery, and equipment.
Are you considering moving your business into the SIDA region? Here is a brief overview of the most common economic activities.
Including but not limited to;
Maturity of the bonds is flexible and can range from ten to thirty years, resulting in long-term savings.
Rates are generally 2.0% to 3.0% below conventional financing. The interest rates are discounted to reflect Tax-Exempt status. Rates range well below conventional financing.
Interest rates may be fixed or variable and can finance up to 100% of the eligible project costs.
Established in 2006, SIDA is a Special District Unit of Government offering Federal and State Tax Exempt Bond Financing for Economic Development Projects in Southern Illinois.