MDFB PUBLIC ENTITY LOAN PROGRAM
The Missouri Development Finance Board provides loans to local governments to finance general public infrastructure improvements and economic development projects.
Loans are funded by the issuance by the Board of individually structured tax-exempt revenue bonds tailored to meet the needs of each public entity. The loans, which are subject to annual appropriation, may be secured (sale/leaseback) or unsecured depending upon the credit strength of the public entity and the nature of the public improvements.
Money Can Be Applied To:
- public buildings-police and fire stations
- jails-sewer and water systems
- public infrastructure (streets, bridges, utilities)
- acquisition of land and demolition of buildings and other redevelopment in blighted areas
The bonds will be sold by the Board based upon credit supplied by the applicant. The Board may provide partial credit enhancement for redevelopment projects having substantial impact to the state. Once an application is received, the Board will consider a resolution of intent at its next meeting. Loans must be a minimum of $1 million. There is no maximum amount. The Board will be responsible for the selection of all professionals, or in the alternative the Board must approve of all pre-exiting professional arrangements paid for in whole or in part from the proceeds of the loan.
For more information contact:
Missouri Development Finance Board
Public Entity Loan Application