Industrial Development Authority (IDA) of the City of Alexandria
The Industrial Development Authority (IDA) of Alexandria provides financing assistance to qualified businesses and organizations wishing to make an investment within the City of Alexandria. A seven-member body appointed by the Alexandria City Council for staggered four-year terms, the IDA was created by ordinance of the city council according to the Industrial Development and Revenue Bond Act (Chapter 49, Section 15.2 of the Code of Virginia).
The IDA acts as a conduit, issuing bonds and lending proceeds to 501(c)(3) organizations, small manufacturers and others. The financial markets set interest rates on such bonds below comparable rates for taxable financing because bondholders can exclude interest on the bonds from their gross income.
For more information, please download the IDA Bond Financing Brochure.