The Saint Paul Port Authority has been providing financing solutions to both for-profit and nonprofit customers for over 30 years. We are able to offer manufacturers below market rate financing for the purchase of fixed assets. The key feature of the industrial development bond is its non-taxed status, which lowers the cost of financing.
Post Authority Considerations/ Requirements:
- state law compliance
- federal law compliance
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Benefits to City Workers and Taxpayers:
- jobs
- tax growth
- business retention and growth
- reinvestment in community
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Benefits to Consumers:
- access to broader market
- lower interest rates
- access to financial product that banks don't offer
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Government Bonds Examples:
- Minnesota Department of Agriculture headquarters
- Minnesota Department of Health headquarters
- Mears Park Centre
- Public Housing Authority
- Numerous tax increment bonds
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Public Facilities Bonds Examples:
- District Heating
- District Cooling
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We bring the lenders and the businesses together to ensure our credit-worthy clients get the best financing available in the marketplace. The maximum bond financing is $10 million.
Eligible users are manufacturing companies. At least three-fourths of the bond proceeds must be spent on core manufacturing space and equipment.
Ramsey County is expected to refer some nonprofit businesses who request tax-exempt financing to the Port Authority under a new partnership formed in 2004.
For more information contact Peter Klein at the Saint Paul Port Authority, 651-224-5686. Or e-mail Pete at pmk@sppa.com.
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