Tax Exempt Revenue Bonds

The Economic Development Corporation (EDC) encourages the establishment of businesses beneficial to the community through Tax Exempt Revenue Bonds.

• Land Acquisition.
• Land Improvement.
• Building Construction/Renovation.
• Machinery & Equipment.
• Related Soft Costs.

• Manufacturing.
• Non-Profits.

Business Size

• $10,000,000 capital expenditure limit over 6 years (does not apply to non-profit).

Service Area

• City of Farmington Hills.

Financing Sources

• Bank, or public/private placement via investment banking firm.

Loan Amount

• Approximately $1,000,000 - $10,000,000 (does not apply to non-profit).

Term

• Varies by project (up to 30 years).

Interest Rate

• Bond market rates.

Down Payment

• Variable (can be zero).

Advantages

• Very attractive interest rates.
• Up to 100% financing.
• Can include financing needs over a 3 year period.

For more information contact the Farmington Hills EDC at: (248) 871-2506.