About the Authority

When did Morris County create its Improvement Authority?

The Morris County Improvement Authority (MCIA) was created by unanimous vote of the Morris County Board of Freeholders (now the County Commissioners) in 2002.

Mission & Goals

What is the Morris County Improvement Authority?

The MCIA is an autonomous independent agency, made up of five commissioners appointed by the Morris County Board of County Commissioners, that acts as a catalyst for economic development.

What we do

The MCIA provides financial assistance to a variety of local governments, non-profit corporations and private entities with the goal of providing low cost financing and economic development to foster projects that improve the quality of life for residents in Morris County.

The MCIA can finance major infrastructure improvements through conduit financing or its pooled financing programs, and can also finance smaller equipment purchases through its established County Guaranteed Leasing Program (CGLP). Since 2004, the CGLP has loaned almost $60 million in 179 separate lease transactions. Through its conduit and pooled financing programs, when a county guaranty is offered as credit enhancement, borrowers pay a lower interest rate, reducing the total cost of the project. The result is a direct benefit to the taxpayers whose taxes repay the debt service due on the bonds or lease.

Who would use an improvement authority?

Municipalities, school districts, fire districts, non-profit organizations, limited dividend housing corporations, redevelopment entities or other private corporations can apply to the MCIA for project funding. Projects can include capital equipment, airports, parking facilities, convention centers, tourism facilities, redevelopment or rehabilitation projects, and low- and moderate-income housing projects, among others.

Why apply to the MCIA?

The MCIA can provide significant cost savings. Depending on the financing program and the borrower, the MCIA can provide numerous advantages over traditional financing.

To learn more about the MCIA's finance programs, click on the button below:

MCIA Finance Programs Webpage

How does an agency apply for financing?

Depending on the financing being requested, a potential borrower may fill out an application for consideration by the MCIA.

Borrowers may fill out a pooled application and submit it to the MCIA, if the project is a refinancing of existing debt (including Bond Anticipation Notes), permanent financing of newly adopted and/or unfunded bond ordinances or a proposed long term lease or loan financing.

Apply Now(PDF, 2MB)

If the need for funding is for equipment only, a borrower may apply to the MCIA’s County Guaranteed Leasing Program (CGLP) by completing and submitting the one-page application and the participation certification form required by the Department of Community Affairs.

Apply Now(PDF, 1020KB)