Informational Fact Sheet

ARRA:                   The American Recovery and Reinvestment Act was enacted on February 17, 2009, provides opportunities for Cities and Counties to facilitate “low cost financing” for private development projects in economically distressed areas.

Recovery Zone:    The City of Anaheim has established a “Recovery Zone”.  The area meets the requirements of Section 1400U-1 of the Internal Revenue Code. Please refer to attachment map. 

RZFBs:                  The U.S. Department of Treasury has allocated to the City of Anaheim an authority to issue up to $9,859,000 million in tax-exempt private activity Recovery Zone Facility Bonds (RZFBs).

Borrowers:           The RZFBs may be issued by the City of Anaheim for eligible projects on behalf of private businesses and developers.  The private borrowers are solely responsible for debt service and repayment of the RZFBs.

Deadlines:            Interested parties requesting consideration for Anaheim’s Recovery Zone Bonds must respond to the Request For Proposals (RFP) by January 27, 2010.  Recovery Zone bonds must be issued by August 15, 2010.

Eligibility:              The project being financed by RZFBs must be located within the Anaheim Recovery Zone area.  Examples of eligible projects include industrial and manufacturing facilities, commercial retail and office, hotels, private parking structures, etc.  Ineligible projects include land acquisition, short term assets, residential rental properties, golf courses, liquor stores, tanning and massage parlors, etc.

Criteria:                Projects must meet threshold requirements and will be evaluated based on established criteria. 

RFP:                     The RFP guidelines and map are available by clicking here. The RFP application (Attachment A) can be filled out and printed by clicking here.