Private Activity Bonds (PABs) are tax-exempt security bonds issued by or on behalf of a local government for the sole purpose of extending special financing benefits for qualified projects. PABs help finance specific projects for the public or common good. Municipalities can use the cap to support several uses including economic development, Affordable homeownership, and Affordable rental housing.
While the City of Grand Junction will review and consider all projects, the City of is currently prioritizing affordable housing projects. In 2023, the City of Grand Junction's PAB allocation is $4,031,651.