The Marion County Industrial Development Authority (IDA) was created on November 16, 1971 by an act of the Marion County Board of County Commissioners. The IDA consists of a 7-member board appointed by the Board of County Commissioners.
The primary purpose of the IDA is to issue tax-exempt bond financing for manufacturing facilities within the county. The IDA can also issue bonds for certain exempt facilities such as water & sewer projects, solid waste and hazardous waste facilities as well as bonds for tax-exempt 501 (C)(3) non-profit organizations. By utilizing the tax-exempt financing, the end user receives a lower interest rate and therefore has a more economically viable project.
The IDA is instrumental in attracting new manufacturing businesses to Marion County and expanding existing facilities. Over the past 40 years, the IDA has played a key role in the growth of the community.
The Marion County IDA was created under the Florida Industrial Development Financing Act, Chapter 159, Part II, Florida Statutes, and to act in any manner that an industrial development authority created pursuant to Florida Statutes Section 159.45 may act. Under Section 159.46 of Florida Statutes, industrial development authorities are created for the purpose of financing and refinancing projects for the public purposes described in the act and by Sections 159.44 to 159.53, Florida Statutes, for the purpose of fostering the economic development of a county.
The IDA meets on an as needed basis in the CEP Board Room, 310 SE 3rd Street, Ocala. The Annual Meeting is held in December of each year.
Agenda-December 5, 2016
James “Adam” Woods, Chairman
Dave Harden, Secretary
Susan Crabb, CPA
Roy Hilgenfeldt, Vice Chairman
Randy B. Zalis
As a dependent special district, the IDA files an Annual Financial Report with the State of Florida. This report can be viewed through the following link.
Kevin T. Sheilley