A Powerful Local Economic Development Financing Tool.
On July 12, 2006, the Governor of Illinois signed Public Act 94-1021 to create the Southern Illinois Economic Development Authority (SIDA). This Authority provides a powerful new financing tool for economic development and has the ability to issue up to $250 million in DOUBLE TAX EXEMPT bonds for economic development purposes.
SIDA is a regional development agency for the fourteen counties and is one of ten such regional organizations within the State of Illinois.
SIDA can issue bonds on behalf of businesses in which debt service is payable exclusively from the earnings of the borrower. In issuing revenue bonds for the borrower, SIDA acts as a "conduit" or "middle-man."
The bonds are sold to insurance companies, banks, mutual funds, or brokerage houses on behalf of individuals. SIDA can issue bonds for Manufacturing, Senior Housing, Not-for-Profit Companies, Local Government and much more.
The proceeds of the sale are made available to the borrower for the project. The borrower then pays back the money directly to those who bought the bonds.
SIDA is an economic development agency for the fourteen counties located in the territory. There are ten Regional Development Authorities (RDAs) in the state of Illinois.
Governor Appointment
Alexander County Appointment
Governor Appointment
Perry County Appointment
Jackson County Appointment
Johnson County Appointment
Massac County Appointment
Franklin County Appointment
Pope County Appointment
Pulaski County Appointment
Randolph County Appointment
Saline County Appointment
Governor Appointment
Gallatin County Appointment
Governor Appointment
Williamson County Appointment
DCEO Desginee
Union County Appointment
Hardin County Appointment
Governor Appointment
Governor Appointment
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.