The Quad Cities Regional Economic Development Authority (QCREDA) was created in 1987 by an action of the Illinois General Assembly and the Governor. QCREDA is a general bonding agency for the counties of Carroll, Henry, Jo Davies, Knox, Lee, Mercer, Rock Island, Stephenson and Whiteside.
The Authority’s powers allow it to issue DOUBLE TAX-EXEMPT bonds for private and public entities to provide an interest rate that is generally 2-3% lower than conventional financing. QCREDA can issue Industrial Revenue Bonds for manufacturing firms, bonds for senior housing and affordable housing, bonds for hospitals, YMCAs and other 501c3 not-for-profit firms, schools and universities, in addition to water, waste water and intermodal transportation bonds. Bonds are generally purchased by investment banking firms that place them in the public market with mutual funds or insurance companies. The bonds are generally backed by a bank letter of credit. QCREDA is authorized to issue bonds up to an outstanding amount of $250 million dollars.
Notice of Meeting
Posted: September 4, 2020; 10:00 am CST
Please note the Quad Cities Regional Economic Development Authority Board Meeting will be held VIA REMOTE CONNECTION. Please join via Zoom Link at https://us02web.zoom.us/j/6931317553. or by audio link at 312-626-6799 and use Meeting ID 693 131 7553. on the date above at the Quad Cities International Airport, Restaurant Conference Room, 2200 69th Avenue, Moline, IL 61265 . If you have any questions, please call Warren Ribley at 217-836-9553. Pursuant to Executive Order 2020-07,2020-18, 2020-33 & 2020-48 which suspends provisions of the Open Meetings Act, 5 ILCS 120, requiring or relating to in-person attendance and remote participation by members of a public body. Any member of the public, taxpayer or interested person wishing to be heard on any matter, make or submit public comments during the regular meeting of the Authority can attend via remote connection by telephone at the conference line dial-in number 312-626-6799 Meeting ID 693 131 7553 or in person. Any person attending by telephone and desiring to be heard are instructed to contact Warren Ribley at 217—836-9553 by 5:00 pm the day prior to the start of the meeting.