The Tempe IDA is governed by a seven-member Board of Directors. Board members are selected by the Mayor with the approval of the Tempe City Council and hold a six-year term. Our regular Board meetings occur on a quarterly basis, and additional special Board meetings are held as needed. Board meetings are open to the public and generally take place at Tempe City Hall, the Tempe Public Library, and other public venues. Visit www.Tempe.gov for information about our Board meeting dates and locations, copies of prior meeting minutes, and service on the Board. Our next regular Board meeting will take place on Monday, April 27, 2020 at 3:00 p.m. at the Tempe Public Library, 3500 South Rural Rd., Tempe, Arizona, 85282, BRIC Training Room.
Alice Bimrose has been a Tempe IDA Board member since 2020. Ms. Bimrose has worked at Sky Harbor International Airport for more than 20 years. She has experience in many areas of the Airport, including Facilities Management, Public Relations, Capital Budget Management,Design and Construction, Business and Properties, Human Resources and Administration. In her current position, she oversees operating and capital budgets, administration, contracts and procurement. Ms. Bimrose also worked for 13 years in private and non-profit organizations, working with adults with mental illness.
Ms. Bimrose has a MA in Human Resources from Ottawa University, a BA from Marquette University in Social Work as well as a Certificate of Airport Management from Embry Riddle Aeronautical University. She is an Accredited Airport Executive through the American Association of Airport Executives. Originally from Michigan, Ms. Bimrose has been a resident of Tempe, Arizona since 1987. She is the proud mother of two young adult sons. Ms. Bimrose has been involved in her neighborhood association, schools and the community and has a passion to improve opportunities and economic viability in the city that has been home during her adult life.
Bryce Browning has been a Tempe IDA Board member since October 2019. Mr. Browning works as finance specialist at Intel Corporation, a Fortune 50 company and world leader in semi-conductor manufacturing. At Intel, his responsibilities include long-term financial analysis (including NPV, balance sheet, ROI, cash flow, decision tree), P&L management, Board of Directors review materials, Data Analytics and managing stakeholders across the world.
Mr. Browning has a B.S. in Economics and a minor in Mathematics from W.P. Carey School of Business at Arizona State University. He has been a resident of Tempe, Arizona since 1993 and in 2018 bought his first house in Tempe. Bryce has chosen to live in Tempe because of its diversity of residents, constant fun activities that occur in the city and the beauty of ASU/Tempe town lake/Tempe library/Tempe Marketplace/city parks. As a career finance professional with education in Economics and Math principles, Mr. Browning brings technical competency along with his passion to improve the city he grew up in to be a great asset to the Tempe IDA.
Brian Jackson has been a Tempe IDA Board member since 2018. Mr. Jackson works as an investment analyst and portfolio manager at Ironwood Investment Counsel, an independent investment advisory firm in Scottsdale, Arizona. At Ironwood, he works with individuals and institutions in meeting their financial planning and investment goals. He also analyzes equity and mutual fund investments for the firm.
Mr. Jackson has BA in Economics from the University of Arizona. He holds the Chartered Financial Analyst designation, is a Certified Financial Planner, and a Certified Trust Financial Advisor. He has been a resident of Tempe, Arizona since 2004. He and his wife have chosen to raise their family Tempe because of the quality of life and diversity that Tempe offers. As a professional investor with an economics background, Mr. Jackson understands business analysis and the incentive structures necessary to encourage economic development.
Matthew McCormick is the Vice President for Saint Holdings (Saint). At Saint, Matthew applies his twelve years of experience in real estate, economic development and agriculture to the company’s various projects. He has participated in attracting companies like Tractor Supply Company, Sheffield Lubricants, Lucid Motors and Nikola Motor Company to Saint’s industrial parks. Mr. McCormick is focused on the future of Arizona and diligently works to attract new employers and projects to the area. Matthew has a tremendous amount of experience working collaboratively in the region with many municipalities and agencies including the cities of Tempe, Mesa, Casa Grande & Coolidge, Pinal County, Pinal Partnership, Central Arizona College, Arizona Commerce Authority, ADOT and Arizona @ Work.
In 2007, Matthew graduated Cum Laude with a Bachelor of Science degree in Housing and Community Development from Arizona State University. Mr. McCormick joined the Tempe IDA Board of Directors in 2017 and in addition to that role, he is also a member of the Pinal Partnership Transportation Committee, Greater Phoenix Economic Council, Coolidge Chamber of Commerce Board of Directors, and the Urban Land Institute-Young Leaders Group.
In his free time, Matthew enjoys experiencing Tempe’s diverse restaurant scene and exploring Arizona with his wife and their two dogs.
Christopher Rosner is the Secretary and Treasurer of the Tempe IDA, and has been a member of the Board since 2007. Mr. Rosner is the owner of Renaissance Lending Group, LLC in Tempe, Arizona, which specializes in mortgage brokerage for residential home purchasers.
Mr. Rosner holds a BS in Finance and an MBA from Arizona State University. He is a Certified Mortgage Planning specialist and has lived in Tempe since 1969. Mr. Rosner is active in numerous community and charitable organizations, including the Kiwanis Club of Tempe since 1993, a member of the Tempe Sister Cites Board since 2007 and is a Class IV Tempe Leadership graduate. Mr. Rosner brings a pertinent and practical skill set to the Board, given his deep understanding of the local community and his years of mortgage lending experience
Jennifer Settles is the President of the Tempe IDA, and has been a Board member since 2017. Ms. Settles is Vice President and Deputy General Counsel for Ports America, the largest marine terminal operator and stevedore in the US. In this capacity, she advises the company on M&A transaction, commercial contracts and joint venture transactions. Her previous experience includes serving as the corporate counsel and the corporate secretary for U-Haul International, Inc., and its parent company, AMERCO, handling legal matters for real estate acquisitions, financing transactions and corporate governance. Ms. Settles founded Prime Legal Freelance, LLC, a boutique solo practitioner law firm advising clients on real estate, business and corporate matters.
Ms. Settles has a BA in History from Arizona State University, and a JD from the University of the Pacific McGeorge School of Law, and is licensed to practice law in the States of Arizona and Nevada. She and her husband raise their three children in Tempe, where, for over 20 years, they have enjoyed the diversity, growth and quality of living that Tempe offers. Her broad experience with structured finance and in creating solutions to the complexities of commercial real estate development is valuable to the IDA Board.
John Stevenson has been a Tempe IDA Board member since 2019. Mr. Stevenson works as the founder of MarHope Holdings, LLC and Managing Director at Clear Sky Capital, Inc., both are full cycle commercial real estate investment and business operation platforms. He is responsible for the firm’s investment strategies, deal sourcing, capital stack, financial analysis, development, operations, regulatory compliance and investor relations. In addition, he also leads the environmental, social and governance efforts of both companies. His broad experience in the financial and commercial real estate sectors, along with his commitment to initiatives that serve the economic, social and environmental needs of the community provide value in his role with the IDA.
Mr. Stevenson received his BA from Georgia Southern University. He’s a proud father of two daughters and who all live and go to school in Tempe. Mr. Stevenson is active in many local community organizations including H.U.S.T.L.E. Phoenix and Feed My Starving Children. He volunteers with the IDA in the hopes that he can give back to the city he calls home.
Based on the published rates of other industrial development authorities in the region, the Tempe IDA charges the lowest fee in the region for its service of issuing private activity bonds. We charge a $3,000 application fee, and an annual administrative fee of up to 6.75 basis points on the principal balance outstanding. Fifty percent of the application fee is refundable if the application is withdrawn or the proposed transaction is not approved by the required governmental authorities.
Each applicant is responsible for its own professional fees and the professional fees of the Tempe IDA in connection with a private activity bond transaction.
We believe in opening doors to opportunity. Since our inception in 1980, the Tempe IDA has issued in excess of $600 million in private activity bonds, for multiple projects. Please click here to see a list of these transactions. By virtue of the Tempe IDA’s involvement in a private activity bond transaction as the conduit bond issuer, projects owners and developers may achieve a lower cost of funds and opportunities for greater access to capital.
Since 1980, the Tempe IDA has granted over $570,000 in scholarships to college-bound local students, to help with the cost of tuition and fees. For more information about our college scholarship program, please click here.
In addition, the Tempe IDA has granted funds to various Tempe economic stimulus efforts to support local small businesses in the coronavirus pandemic, and we are a proud donor to AZ Apparel Foundation, F.A.B.R.I.C. Tempe's non-profit organization, in its production of thousands of isolation gowns (also known as "PPE") for use by local health care providers on the front lines of treating Covid-19 patients.
Below are some of the projects for which the Tempe IDA has issued private activity bonds.
Friendship Village is a Life Care retirement community that offers access to independent living, assisted living, skilled nursing and memory care, with numerous first-class dining, fitness, recreation and other amenities for its residents. It is the only Life Care community in the East Valley metro Phoenix area.
The Barrett and O'Connor Center is a 100-year old building located just three blocks from the White House in Washington, DC and houses numerous ASU programs.
Mirabella at ASU, located in Tempe, Arizona, is currently under construction and is scheduled to reach completion in 2020. When completed, it will be a twenty-story, 1.7-acre university-based senior housing facility. Residents at Mirabella at ASU will leverage its proximity to Arizona State University to remain active, learning and engaged with the community.
The Fulton Center, located in Tempe, Arizona on Arizona State University's Tempe campus, houses ASU Enterprise Partners, the ASU Foundation, and university administration and research offices. The adjoining parking structure includes retail and dining establishments at street level.
The Brickyard on Mill is a seven-story, mixed-use project located in downtown Tempe on Arizona State University's Tempe campus. It is home to the Ira A. Fulton Schools of Engineering, the ASU Art Museum Brickyard Ceramics Research Center, the School of Arts, Media and Engineering, and ASU’s Decision Theater.