California Infrastructure & Economic Development Bank (I-Bank)

The mission of the I-Bank is to finance public infrastructure and private development that promote a healthy climate for jobs and contribute to a strong economy. The I-Bank has extremely broad statutory powers to issue revenue bonds,make loans and provide credit enhancements for a wide variety of infrastructure and economic development projects.

We recommend utilizing I-Bank programs to enhance the NELA area's ability to attract private capital, and implement revitalization projects more successfully. Specifically, the City along with private sector partners should explore the following programs: 1) Industrial Development Bonds for acquisition, construction, or rehabilitation of manufacturing companies; 2) Small Business Loan Guarantee Program to address capital access barriers faced by small businesses; and 3) Infrastructure State Revolving Fund Program to finance public infrastructure projects.