Lee bonds draw a diverse crowd

+ Lee bonds draw a diverse crowd
News that $56.1 million in federal tax-exempt financing is available for Lee County businesses has generated considerable interest.

Susan Noe, the business assistance manager at the Fort Myers Regional Partnership, says she's received 75 inquiries since the program was announced in late January. The partnership is the county economic development organization that coordinates the applications and forwards them to the Lee County Industrial Development Authority.

The bonds, called Recovery Zone Facility Bonds, are designed to provide low-interest financing to business that would not ordinarily qualify for tax-exempt debt. Once approved, a sponsoring financial institution sells the tax-exempt debt in the secondary market.