Section 16.17 Missouri Development Finance Board Act

• Library: Local Government Deskbook (2017 Ed.)

A. (§16.17) Missouri Development Finance Board Act

The MDFB (Missouri Development Finance Board) Act, §§ 100.250–100.297, RSMo 2016, provides for low-interest loans and loan guarantees to both public and private borrowers. The 12-member Missouri Development Finance Board (MDFB) is authorized to make loans to local governments or private entities to assist in financing infrastructure and economic development projects, including public improvements and redevelopment in blighted areas. In addition, the MDFB provides small loans to political subdivisions for use in infrastructure projects, primarily in small rural communities and with a priority given to public improvements for water and sewer projects that improve public health and safety. See § 100.293, RSMo 2016. Loans for “infrastructure facility projects” are limited to $10 million per project. Section 100.281.1(3), RSMo 2016. The MDFB also is authorized to provide loan guarantees for industrial and commercial projects. Section 100.286, RSMo 2016. Loan guarantees may not exceed $5 million. Section 100.286.1(5).

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