Recovery Zone Bonds

The American Recovery and Reinvestment Act allocated $11,466,000 of Recovery Zone Economic Development Bond Authority and $17,200,000 of Recovery Zone Facility Bond Authority to Anoka County.

A recovery zone has been established based on areas with high rates of foreclosure and unemployment. All projects requesting the use of these financing tools must be located within the recovery zone. On the following map, all areas shaded blue are eligible.

View a map of the Anoka County Economic Development Recovery Zone (Adobe Acrobat format)

Economic Development Recovery Zone Bonds are to be used for public purpose and will reduce borrowing cost through a direct federal subsidy to the issuer. The Federal Government will refund 45% of the interest paid over the life of the bonds. The project must be governmentally owned and promote development.

Download an application for Economic Development Recovery Zone Bonds (coming soon).

Recovery Zone Facility Bonds are tax-exempt private activity bonds. A qualifying project includes any depreciable property that is to be constructed, reconstructed, renovated or acquired by a private user within a Recovery Zone. The intent of the bond program is to stimulate business development that wouldn’t otherwise occur.

Download an application for Recovery Zone Facility Bonds (Open document with Microsoft Word, save, print and submit a signed copy. NOTE: The application form is a Word 2007 document. If you do not have Word 2007, you will need to download a free converter to open the application. The converter is available from the Microsoft Web site. )

page last updated - 11/13/2009

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