Chamber & ICAD Group to host Disaster Bond Financing lunch

Updated: February 19, 2010

The Iowa City Area Chamber of Commerce and the Iowa City Area Development Group will host an informational luncheon to discuss Midwest Disaster Area Bond Financing and New Market Tax Credits (NMTC) from 11:45 a.m. to 1:30 p.m. on Friday, February 19 at the Chamber office, 325 E. Washington Street in Iowa City.

Dean Spina and Dan Robeson are the featured presenters. Elected officials, developers and companies who may have the need to access financing for future developments over $3 million are encouraged to attend.

Dean Spina of Bradley & Riley PC will discuss how disaster bond financing could benefit large area capital investment projects. This new lending program can be used to finance the purchase of land and construction of a building as well as certain fixtures.

The IRS has given states like Iowa broader discretion in utilizing $2.6 billion of tax exempt bond financing capacity and area companies can utilize this, even if they weren’t affected by flooding or tornados.

Dan Robeson from Iowa Business Growth in Johnston, Iowa, will provide information and answer questions regarding tax credits for qualified projects through the NMTC program. NMTC provides an incentive to investors in the form of tax credits over seven years which facilitate economic and community development in certain census tracts in Iowa City and Coralville.

Reservations are required for the luncheon. Contact Mark Nolte at (319) 354-3939 by Tuesday, February 16.