In addition to tax-exempt funding, the Finance Authority can also help qualifying organizations, such as the ones listed below, gain access to the bond market.
The Finance Authority is also able to take title to parking garages that are being built in Central Ohio. If the agency were in the chain of title, the construction materials used to construct the parking garage would not be subject to the state and local sales tax because the agency is a public entity, which is exempt from the sales tax.
As with all tax-exempt financings, the IRS Code dictates specific eligibility rules. The Finance Authority’s team will work with you to determine if your project is appropriate for this program.
There are special tax rules that apply to parking garages that hope to be structured as a tax-exempt financing. A few of those rules include: