Industrial Development Authority Board of Directors

Mission

 

The mission of the Industrial Development Authority Board of Directors is to create and maintain jobs within Maricopa County and assist the residents of the County to achieve a better standard of living and way of life. 

General Information

The Industrial Development Authority of the County of Maricopa (the "Authority") is a nonprofit corporation designated by statute as a political subdivision of the State of Arizona (the "State"), duly formed under The Industrial Development Financing Act. The Authority is governed by a Board of Directors consisting of 9 members, each of whom must be a qualified elector of Maricopa County (the "County"), and elected by the Maricopa County Board of Supervisors. Note: The Authority's Directors need not be a resident of any particular Supervisorial District. The Authority performs an essential government function by assisting in the financing of:

  1. Commercial and industrial enterprises
  2. Safe, sanitary and affordable housing
  3. Healthcare facilities

The Authority primarily fulfills its essential government function through the issuance of multiple revenue bonds, the interest income on which may either be tax-exempt or taxable. In most instances, the Authority issues its bonds on a "conduit basis" for the benefit of the prospective user of the bond proceeds (the "Borrower"), who, in turn, ultimately has an obligation to pay:

  1. All the Authority's direct and indirect costs associated with the issuance of the bonds
  2. The principal and interest on the bonds
  3. A share of the Authority's actual administrative expenses incurred for each of the Authority's fiscal years during the period of time the Borrower's bonds are outstanding

By statute, the Authority:

  1. Does not have any taxing power
  2. Is proscribed from pledging its full faith and credit
  3. The Authority is also proscribed from pledging the full faith and credit or taxing power of the County for the repayment of the bonds

In addition to issuing municipal revenue bonds on a conduit basis, the Authority is involved in other activities.

Meetings

  • 2nd Tuesday of each month
  • Board of Supervisors Conference Room
    301 West Jefferson
    10th Floor
    Phoenix, AZ 85003

For updates to this webpage, contact BoardsAndCommissions@Maricopa.gov

Current Members

Representation Member Current Term
District 1 Jeremey Stawiecki 12/18/2019 - 12/17/2025
District 1 Jim Rounds
 12/18/2017 - 12/17/2023
District 2 Andrew Cohn 12/18/2019 - 12/17/2025
District 3 Rebecca Burnham 12/18/2023 - 12/17/2029
District 3 Lisa James 12/18/2017 - 12/17/2023
District 4 Ron Castro 12/18/2021 - 12/17/2027
District 4 Freddie Bracamonte 03/23/2022 - 12/17/2027
District 5 Jose Martinez 02/23/2022 - 12/17/2027
At-Large Vanessa Valenzuela Erickson 10/18/2023 - 12/17/2025
  1. Member Qualifications
  2. Duties & Powers
  3. Formation Authority

Member Qualifications


A.R.S. §35-705
The authority shall have a board of directors in which all powers of the authority shall be vested and that shall consist of any number of directors, not less than three nor more than nine, all of whom shall be duly qualified electors of the municipality or county with respect to which the authority was formed, except that a corporation that is formed by the Arizona finance authority shall be governed pursuant to section 41-5353. In the case of a corporation formed with the permission of the Arizona board of regents the directors must be qualified electors of this state. In the case of a corporation formed with the permission of the Arizona finance authority, the Arizona finance authority board shall serve as the board of the industrial development authority. The directors shall serve without compensation, except that the directors shall be reimbursed for their actual expenses incurred in the performance of their duties in the same manner as is provided for other state officers. A director shall not be an officer or employee of the authorizing municipality or county. All directors shall declare any conflict of interest as provided in title 38, chapter 3, article 8. The directors shall be elected by the governing body of the authorizing municipality or county, and they shall be so elected that they shall hold office for overlapping terms. At the time of the election of the first board of directors the governing body of the municipality or the county shall divide the directors into three groups containing as nearly equal whole numbers as possible. The first term of the directors included in the first group shall be two years, the first term of the directors included in the second group shall be four years, the first term of the directors included in the third group shall be six years, and thereafter the terms of all directors shall be six years. The governing body may remove a director at any time, with or without cause.

Liaison

  1. Janis Larson

    Administrator, Industrial Development Authority
    Email
    Phone: 602-834-5226 ext. 1

  2. Mary Misic

    Administrator, Industrial Development Authority
    Email
    Phone: 602-834-5226 ext. 2

Related Documents

  1. Application for Service (PDF)
  2. IDA Board of Directors Articles of Incorporation (PDF)
  3. IDA Board of Directors Bylaws (PDF)
  4. Industrial Development Authority Board of Directors Meeting Disclosure Statement (PDF)