ARIZONA NEWS

Arizona reactivates dormant program that supports rural and tribal infrastructure projects

Aug 7, 2024, 5:00 PM

Stock image of a broken water pipe. State officials have reactivated the Greater Arizona Developmen...

State officials have reactivated the Greater Arizona Development Authority, a program that supports rural infrastructure projects. (Pixabay Photo)

(Pixabay Photo)

PHOENIX – State officials have reactivated the Greater Arizona Development Authority (GADA), a dormant state program that supports infrastructure projects in rural and tribal communities.

GADA officially returned to action last week after 10 years of inactivity, Gov. Katie Hobbs announced Tuesday.

“By reinvigorating this tool, we are providing an opportunity to leverage existing funds to invest in essential infrastructure all across Arizona. This will support our focus on priority projects such as transportation, clean energy, water supply and workforce training facilities,” Hobbs said in a press release.

Cities and towns can apply for affordable financing for infrastructure projects, leveraging GADA’s strong bond rating, through Oct. 1.

In addition, GADA can subsidize up to 50% of closing costs and help provide technical support for the projects.

What is the Greater Arizona Development Authority’s history?

Before going dormant, GADA issued $574 million in bonds to support 84 rural infrastructure improvement projects from 1997 to 2014. The projects included the construction of firehouses, community centers, libraries and municipal complexes.

The Arizona Finance Authority (AFA) oversees GADA, which has been self-sustaining and doesn’t require state funds for its investments.

“Investing in our rural and tribal communities is vital to the success of Arizona,” Robin Romano, president of the AFA board of directors, said in the release. “The board looks forward to financing between $50 and $100 million within the next year.”

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Westbound Interstate 10 was closed in Tempe early Thursday due to law enforcement situation....

Kevin Stone

Westbound I-10 closed in Tempe due to law enforcement activity

Westbound Interstate 10 was closed in Tempe early Thursday due to a law enforcement situation, authorities said.

6 minutes ago

(City of Phoenix media photo)...

Bailey Leasure

Phoenix reaches housing creation and preservation goal 5 years early

Phoenix announced it has reached its goal of creating or preserving over 53,000 houses throughout the city.

1 hour ago

The Mesa Library has begun installing solar panel canopies. In addition to generating energy, the s...

David Veenstra

Mesa Library installing solar panel canopies to generate energy, provide shaded parking

The Mesa Library has begun installing solar panel canopies. In addition to generating energy, the solar panel canopies will provide covered parking.

2 hours ago

Valley events calendar...

KTAR.com

Valley events calendar: Here’s a rundown of things to do around metro Phoenix

Our Valley events calendar keeps you up to date on the wide variety of activities across the Phoenix area.

2 hours ago

(Pixabay photo)...

Bailey Leasure

Investigation involving death of Phoenix woman upgraded to homicide

A case involving the death of a Phoenix woman in December has been upgraded to a homicide following an investigation, authorities said Wednesday.

9 hours ago

Arizona Attorney General Kris Mayes has announced she is launching a new webpage that will monitor ...

Bailey Leasure

Arizona attorney general launches webpage to monitor federal funding issues

Arizona Attorney General Kris Mayes has announced she is launching a new webpage that will monitor federal funding issues.

10 hours ago

Sponsored Articles

...

Collins Comfort Masters

Collins Comfort Masters: Your go-to plumbing experts in Arizona

Collins Comfort Masters, a trusted name in HVAC, water and plumbing since 1985, is you go-to plumbers for the residents of Phoenix and the Valley.

...

Fiesta Bowl Foundation

Join us for the 52nd annual Vrbo Fiesta Bowl Parade

The 52nd annual Vrbo Fiesta Bowl Parade presented by Lerner & Rowe returns on Saturday, December 28, at 10 a.m.

...

Sanderson Ford

Sanderson Ford’s Operation Santa Claus: Spreading holiday cheer through pickleball

Phoenix, AZ – Sanderson Ford, a staple in the Arizona community, is once again gearing up for its annual Operation Santa Claus charity drive.

Arizona reactivates dormant program that supports rural and tribal infrastructure projects