Release Date: 05/19/2016
MERIDIAN, Idaho – Idaho Housing and Finance Association announced that it completed a $10 million economic development tax-exempt bond financing for IdahoPine Mills, LLC in Meridian, Idaho.
The financing, which is expected to bring 70 jobs and $3 million in economic activity to the area over two years, was for the purchase of 17 acres and four existing buildings, plus production equipment. The fixed-rate bonds were purchased by Banner Bank.
“We’re proud to help local businesses such as IdaPine Mills with their financing needs” said Gerald M. Hunter, president of Idaho Housing. “The land, facilities and equipment they are purchasing are essential to their role in providing a stable source of economic growth and jobs to the state.”
The financing will provide for the acquisition and improvement of a 190,000 square foot facility that will house specialized lumber milling and processing equipment consisting of four buildings on 17 acres of land located at 240 West Taylor Avenue, Meridian, in Ada County, Idaho.
It will also provide for the construction of related site improvements and acquisition of related equipment, fixtures and property, which will be owned and operated by IdaPine Mills, LLC throughout the term of the Bonds.
关于Idaho Housing and Finance Association
Idaho Housing and Finance Association是金融服务和住房业务组织。 IHFA的使命是通过扩大住房机会，建立自给自足并促进经济发展来改善生活并增强爱达荷州社区。
As the issuer of approximately 70% of all bonds in Idaho, IHFA offers its bonding expertise to other organizations working to access the benefits of bonds. This low-cost financing provides a significant advantage to companies and organizations trying to raise capital throughout Idaho.www.facebook.com/idahohousing