Walworth County projects may be eligible for disaster bond funding
WALWORTH COUNTY An economic stimulus initiative that expires this year may spur development projects by giving a financial boost of millions of dollars to developers in numerous Wisconsin counties—including Walworth—according to an article in the Business Journal.
The story noted the Midwestern Disaster Area Bonds, created in 2008 under President George W. Bush’s administration, may provide financing for eligible projects before the end of 2012, and quoted a Brookfield financial advisor as saying the interest among municipalities for the funding has increased over the past six months.
The bonds were designed to assist areas in the Midwest hit by tornadoes, storms and flooding.
Developers are attracted to the program because the interest income from the bonds is exempt from federal income tax. Financial experts say that while developers are still being cautious about building projects, banks are more willing to lend to developers with good track records.