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Application for Private Activity Bonds

Steps

  1. 1. Step One
  2. 2. Step Two
  • Step One

    1. Application Overview

      Private Activity Bonds (PABs) are tax-exempt security bonds issued by or on behalf of a local government for the sole purpose of extending special financing benefits for qualified projects. PABs help finance specific projects for public or common good. Municipalities can use the cap to support several uses including economic development, homeownership, and rental housing. Economic development project eligibility includes manufacturing industrial development bonds for the construction of manufacturing facilities that produce goods, qualified redevelopment bonds for acquiring property in blighted areas; preparing land for redevelopment and relocating occupants of structures on the acquired property; exempt facility bonds for hazardous waste facilities, solid waste disposal facilities, water and sewer facilities, mass commuting facilities, local district heating and cooling facilities, and local electric or gas facilities; and qualified 501c(3) bonds for use by non-profit hospitals and private universities. 

      While the City will review and consider all projects, currently the City of Grand Junction will prioritize affordable housing projects. 

      The City of Grand Junctions 2023 allocation is $4,031,651. 

      Application will remain open until May 15, 2023

      Due to the system time out, please be sure to save your work frequently or write answers on a different form and copy/paste into the document.