The IDA owns 133 affordable housing units and administers outstanding multi -family bonds on an additional 592 units of which 20% have been set aside for very low income.
By the end of 2012, the IDA and SHRP will have created 330 affordable housing units for the Sierra Vista Community including 118 units which are set aside for very low income in properties throughout the community.
In 2010 SHRP received a grant from the Federal Home Loan Bank for $1,350,000 to complete the engineering and off site improvements for Crossing Point. It also secured a bridge loan from the Rural Community Assistance Corporation to complete both the off sites and a construction line of credit to build the homes.
In October of 2009, the IDA, in partnership with a local company, acquired 6049 S. Highway 92 for the purpose of locating KBS Electrical Distributors who supplies large electrical transmission equipment to SSVEC.
The building currently has 5,400 sq.ft. of quality office space available with an incentive rate which can help lure a new company to Sierra Vista or facilitate the start up of a new business that will create new employment opportunities.
Issued $5.5 Million in financing for SEABHS
In 2005 the IDA began its partnership with Equity Housing Group and Catholic Community Services to construct Crystal Creek Townhomes.
Today, Crystal Creek is home to 89 low income families and a one year waiting list for new Residents.
The IDA established Sierra Housing Resource Partner, Inc. (SHRP) – as a 501(c)3 for the purpose of developing low income housing in the greater Sierra Vista area. Today SHRP is under development of Crossing Point, an 80 unit single family subdivision for first time home buyers. Crossing Point is located on the old railroad right-of-way between 7th Street and Canyon Drive.
Worked with the SV EDF to locate Cristek and revitalize West End; lent funds to refurbish 55 S. Fifth St., now home to Lockheed and General Dynamics.
2002 – Acquired and renovated Marianne Apts for affordable housing with a grant from the Arizona Dept. of Commerce; sold the Beauty Box portion and adjacent land to Calvary Church requiring the road development to Wilcox, now named Marianne Dr.
1995 – Acquired the Sierra Linda Apartments from the Resolution Trust Corporation Affordable Housing Program; the first privately subsidized housing program in Sierra Vista.