• GADA to offer financial assistance to rural communities and Tribal governments.
• Funding available for essential projects including water supply and wastewater systems.
• GADA aims to finance between $50 and $100 million within the next year.

August 12, 2024 — Governor Katie Hobbs, in partnership with the Office of Economic Opportunity and the Arizona Finance Authority (AFA), has announced the reactivation of the Greater Arizona Development Authority (GADA) after a decade of inactivity. This financing program aims to assist rural communities and Tribal governments in developing critical public infrastructure projects, including water supply and wastewater systems.

GADA’s revival is seen as a vital step towards addressing the unique challenges faced by Arizona’s rural areas. “Too often the needs of Arizona’s rural cities and towns aren’t supported or resourced, and leaders are often seeking resources to address aging roads, buildings, and other public infrastructure,” said Executive Director Tom Belshe of the Arizona League of Cities and Towns.

The program functions as a state infrastructure bank, leveraging its funds to secure bonding for communities that lack access to traditional capital markets. From 1997 to 2014, GADA supported 84 projects across Arizona, issuing $574 million in bonds for various projects, including libraries, recreation centers, and crucial water projects like the wastewater expansion project in Lake Havasu City.

Bonds issued through GADA are repaid through dedicated project revenues or local future tax revenues, ensuring the program’s self-sustainability. GADA also provides valuable technical assistance to communities, aiding in project finalization and exploration.

With the reactivation of GADA, communities across Arizona can expect renewed support in developing and maintaining critical infrastructure, including water and wastewater systems. This initiative underscores the state’s commitment to investing in its rural areas and fostering sustainable growth and development.

Information on past projects and the current application process and opportunities is on the Greater Arizona Development Authority website.

Image:

Lake Havasu City, Arizona, by Dorian Wallender, January 2013.  Licensed under the Creative Commons Attribution-Share Alike 2.0 Generic license.

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