Financing

Milwaukee County Economic Development (MCED)

FINANCING/INCENTIVES

MIDWEST DISASTER RECOVERY BONDS

Milwaukee County has been allocated up to $50 million of Midwestern disaster area bonds ("MDA Bonds").  MDA Bonds must be issued before January 1, 2013.   Typically, MDA Bonds will be issued as conduit financings for the benefit of the private business owner who will assume full responsibility for repayment of the MDA Bonds without recourse to the governmental issuer.

Qualifying Projects

  • Projects With Private Business Users: Users Must Have Suffered a Loss or be Designated by the Governor as Replacing a Business Which has Suffered a Loss. In the case of a project involving a private business use, either (i) the project must be used by a person who suffered a loss in a trade or business attributable to the severe storms, tornados, or flooding giving rise to any Presidential declaration, or (ii) the person using the project must be designated by the Governor as a person carrying on a trade or business replacing a trade or business with respect to which another person suffered such a loss.
  • Public Utility Projects. In the case of a project relating to public utility property, the project must involve repair or reconstruction of public utility property damaged by the severe storms, tornados, or flooding.
  • Mortgage Financings. In the case of mortgage financings, qualified mortgage bond issues will be MDA Bonds if 95% or more of the net proceeds of the issue are to be used to provide financing for mortgagors who suffered damages to their principal residences attributable to such severe storms, tornados, or flooding.

    • Qualified Project Costs

  • Low-Income Residential Projects. The cost of any qualified residential rental project located in the Midwestern disaster area.
  • Nonresidential Real Property. The cost of acquisition, construction, reconstruction, and renovation of nonresidential real property (including fixed improvements associated with such property) located in the Midwestern disaster area. Eligible nonresidential real property projects could include, but are not limited to, 2 .
  • such projects as manufacturing facilities; retail businesses and shopping centers; restaurants; office buildings; warehouses and storage facilities; medical office buildings and other medical facilities; commercial development; and agricultural facilities.
  • Public Utility Property. The cost of acquisition, construction, reconstruction, and renovation of public utility property located in the Midwestern disaster area.

Moveable Fixtures and Equipment
MDA Bond proceeds may not be used for movable fixtures and equipment.

STATE RESOURCES
MUNICIPALITY RESOURCES
OTHER SOURCES OF FINANCING IN MILWAUKEE COUNTY
BUSINESS IMPROVEMENT DISTRICTS