Development Planning & Financing Group is a consulting firm that specializes in establishing special taxing districts called Community Infrastructure Districts (CIDs) to finance public infrastructure. CIDs allow infrastructure costs to be paid back through bonds secured by special assessments on property owners that benefit. The document provides an overview of CIDs and how they can help developers finance infrastructure more affordably compared to traditional options like loans. It also summarizes Idaho case law that has upheld the constitutionality of CIDs.
The road to connecting our communities to broadband has been a long and complicated journey. Hear from trailblazers and leaders in the space as they provide a roadmap detailing what has happened, what is to come, and some ways to prepare for the historical investments in broadband in our country. A wide range of topics will be discussed, from best practices to advocacy issues, including the Rural Digital Opportunity Fund, the Broadband provisions of the Infrastructure Investment and Jobs Act, State Broadband Offices, and more.
Transportation Infrastructure FInancing and Value CaptureRPO America
On February 27, 2019 the National Association of Development Organizations (NADO) Research Foundation held a webinar on financing programs available through the U.S. Department of Transportation's Build America Bureau, as well as value capture techiques for recovering value that occurs as a result of infrastructure investment.
The document outlines the duties, responsibilities, and expectations of HRCA Delegates and Directors. Key points include:
- Delegates elect Directors, approve property conveyances and assessment increases over 120%, and may amend governing documents.
- Directors' duties include maintaining insurance, collecting assessments, enforcing rules and declarations. They have powers to acquire property, adopt regulations, and manage community affairs.
- Directors are responsible for finances like budgets, assessments, and collections. They oversee architectural matters and appoint related committees.
- Both Delegates and Directors are expected to attend meetings, understand their roles, and can face liabilities like fiduciary duty and conflicts of interest.
Community infrastructure levy – where are we now?
Katherine Hall
Public sector equality duty (PSED)
Anja Beriro
Publishing compliance data on payment of invoices
Alex Kynoch
Overage clauses and drafting issues
Kasra Powles
Urban finance for local groups for the Sustainable Development Goals (SDGs)IIED
David Satterthwaite, Senior fellow at IIED introduced the urban finance for local groups session at the Money where it matters (MWIM) event.
The presentation was made at the event-Money where it matters, held in London from 7-8 December 2016.
The purpose of the Money Where It Matters event was to reflect on our insights and explore further how financing mechanisms can more effectively channel resources to the local level and identify opportunities to increase flows of finance to the local level in new contexts for development assistance and national investment. It also agreed on outstanding questions that require further research on finance for and with local actors to achieve the effective use and management of funds to deliver climate resilient sustainable development.
More details: https://www.iied.org/promoting-local-access-development-climate-finance
Transit-oriented development, or TOD, is a type of walkable community development that includes a mixture of housing, office, retail and/or other amenities located near quality public transportation. This presentation identifies successful approaches to financing equitable TOD across the United States.
The Infrastructure Investment and Jobs Act (IIJA)nado-web
The Bipartisan Infrastructure Law authorizes $550 billion in new transportation spending over 5 years. It includes funding for roads/bridges ($110B), rail/transit ($105B), airports ($25B), ports ($15B), electric vehicle infrastructure ($7.5B), and broadband ($65B). The law also provides $55B for water infrastructure, including $15B to replace lead pipes. It establishes new competitive grant programs and increases funding for existing programs to improve U.S. infrastructure.
The road to connecting our communities to broadband has been a long and complicated journey. Hear from trailblazers and leaders in the space as they provide a roadmap detailing what has happened, what is to come, and some ways to prepare for the historical investments in broadband in our country. A wide range of topics will be discussed, from best practices to advocacy issues, including the Rural Digital Opportunity Fund, the Broadband provisions of the Infrastructure Investment and Jobs Act, State Broadband Offices, and more.
Transportation Infrastructure FInancing and Value CaptureRPO America
On February 27, 2019 the National Association of Development Organizations (NADO) Research Foundation held a webinar on financing programs available through the U.S. Department of Transportation's Build America Bureau, as well as value capture techiques for recovering value that occurs as a result of infrastructure investment.
The document outlines the duties, responsibilities, and expectations of HRCA Delegates and Directors. Key points include:
- Delegates elect Directors, approve property conveyances and assessment increases over 120%, and may amend governing documents.
- Directors' duties include maintaining insurance, collecting assessments, enforcing rules and declarations. They have powers to acquire property, adopt regulations, and manage community affairs.
- Directors are responsible for finances like budgets, assessments, and collections. They oversee architectural matters and appoint related committees.
- Both Delegates and Directors are expected to attend meetings, understand their roles, and can face liabilities like fiduciary duty and conflicts of interest.
Community infrastructure levy – where are we now?
Katherine Hall
Public sector equality duty (PSED)
Anja Beriro
Publishing compliance data on payment of invoices
Alex Kynoch
Overage clauses and drafting issues
Kasra Powles
Urban finance for local groups for the Sustainable Development Goals (SDGs)IIED
David Satterthwaite, Senior fellow at IIED introduced the urban finance for local groups session at the Money where it matters (MWIM) event.
The presentation was made at the event-Money where it matters, held in London from 7-8 December 2016.
The purpose of the Money Where It Matters event was to reflect on our insights and explore further how financing mechanisms can more effectively channel resources to the local level and identify opportunities to increase flows of finance to the local level in new contexts for development assistance and national investment. It also agreed on outstanding questions that require further research on finance for and with local actors to achieve the effective use and management of funds to deliver climate resilient sustainable development.
More details: https://www.iied.org/promoting-local-access-development-climate-finance
Transit-oriented development, or TOD, is a type of walkable community development that includes a mixture of housing, office, retail and/or other amenities located near quality public transportation. This presentation identifies successful approaches to financing equitable TOD across the United States.
The Infrastructure Investment and Jobs Act (IIJA)nado-web
The Bipartisan Infrastructure Law authorizes $550 billion in new transportation spending over 5 years. It includes funding for roads/bridges ($110B), rail/transit ($105B), airports ($25B), ports ($15B), electric vehicle infrastructure ($7.5B), and broadband ($65B). The law also provides $55B for water infrastructure, including $15B to replace lead pipes. It establishes new competitive grant programs and increases funding for existing programs to improve U.S. infrastructure.
This document provides a summary of key points from chapters 8 and 9 of an ACC 410 accounting textbook. It includes 20 multiple choice and true/false questions covering topics like governmental debt, accounting for capital vs operating leases, reporting requirements for various types of debt like revenue bonds, tax anticipation notes, and conduit debt.
The cultural assets and heritage of Ohio's Appalachian region are strengths that local leaders should strive to capitalize upon. Successful small town redevelopment is dependent upon integrating the arts and historic rehabilitation. During this session, learn how stakeholders in Ohio are working toward building vibrant communities that attract new businesses, new residents, and more visitors.
This document provides an overview and strategies for advocacy related to appropriations for the National Association of Development Organizations (NADO) conference. It discusses the recent completion of the FY22 appropriations process and priorities for FY23 funding requests, including $50M for EDA/EDD Partnership Planning Funding and $18M for ARC/Local Development Districts. It outlines action plans for advocacy meetings, including stressing local impacts and following up after meetings.
This document discusses the process and requirements for political subdivisions in Minnesota to grant property tax abatements to private broadband providers. It states that abatements must provide public benefits and be in the public interest, such as increasing the tax base or providing jobs and services. It outlines the abatement approval process, duration limits of up to 20 years, and allows abatements to be financed through general obligation bonds without an election. The proposed structure would have participating governments issue bonds to loan funds to a private provider to reimburse costs of installing fiber cables.
The Blue Ribbon Commission on Transportation Funding was formed by the Morrisville Town Council in 2013 to study possible funding sources for transportation projects and report their findings. The 11-member Commission evaluated 17 financing methodologies and funding sources using criteria of sufficiency, timeliness, predictability, equity, suitability, and cost.
The Commission recommended the Town continue using general obligation bonds, property tax, motor vehicle registration fee, Powell Bill funds, development requirements, NCDOT STIP funding, CAMPO/Federal funding, and CDBG infrastructure grants. The Commission agreed these sources were sufficient, timely, predictable, equitable, suitable and low-cost options for funding transportation.
This document provides information about a community resources presentation on the Center for Business and Education (CBE) development project. It includes the agenda, introduction to community resources, accomplishments, tie to visioning results, public processes for CBE, current status and funding, next steps and timeline, mixed commerce zoning uses, and opportunities for questions and comments.
Why Industrial Revenue Bonds are an Attractive Financing OptionQuarles & Brady
IRB's are designed as an economic development tool that fuels economic growth. They provide access to lower interest rates and extended repayment schedules. Join us to learn when Industrial Revenue Bonds are the right financing solution for real estate, construction, and equipment for a new or expanded business location. The presenters addressed the business case for IRB financing, available transaction structures, and what's happening in Washington, D.C.
2-2016 - Tackling the Infrastructure DeficitShane Skelton
The US faces a large infrastructure deficit, estimated at $3.6 trillion needed by 2020. The Highway Trust Fund, which funds domestic highway projects through a gas tax, faces a growing shortfall as maintenance costs outpace tax revenues. The EB-5 immigrant investor program has potential to help fund infrastructure by drawing $7.35 billion in overseas investment from 2010-2014. However, current rules prohibit using EB-5 for public infrastructure due to risk requirements. Allowing EB-5 funding of public projects like highways could help address the infrastructure funding gap at no cost to taxpayers.
The Young School Disposition Meeting agenda covered introducing the DC Department of General Services (DGS) and their role in managing surplus property, providing background on Young School and why it was deemed surplus by DCPS in 2008, and outlining the surplus and disposition processes. Next steps include DGS releasing a Request for Offers for Young School to charter schools on July 15th and a follow up community meeting where selected charter school offers would be presented.
This document summarizes private sector investment opportunities and challenges in Vietnam's water sector. It discusses two case studies of private water projects in Vietnam - the Binh An and Thu Duc projects - that faced issues such as delays, disputes over contract terms, and tariffs below cost recovery. It recommends that Vietnam establish a market-based tariff system to attract more private investment, transition subsidies gradually, and provide guarantees to build investor confidence as Vietnam develops its domestic capital markets and water companies' creditworthiness. Clear contracts with defined rights and competitive tariff benchmarks are also seen as important for successful private water projects.
Keys to Meeting Stimulus Program Reporting RequirementseCivis Inc
Local governments must meet new reporting requirements to receive stimulus funds. Quarterly reports are due containing details of awards, expenditures, projects, and jobs. Preparing includes tracking funds separately, communicating deadlines, and coordinating reporting across departments. Two counties presented their preparations, including committees to coordinate applications and reporting, and systems to separately account for and track stimulus awards.
Risks & Advantages of P3 Projects by Sid Scott, Hill InternationalRoland_Nikles
Provides overview of the current status (March 2014) of public/private partnerships for development of horizontal and vertical infrastructure in the United States.
OEDA Infrastructure Puzzle Power Point 3-3-15David Robinson
This document discusses infrastructure financing strategies for economic development projects. It introduces the concept of an "Infrastructure Puzzle" where multiple funding sources must be pieced together to finance infrastructure projects. These sources include local funding mechanisms like tax increment financing (TIF) and special assessment districts, as well as state, federal, and private sector funding. The document provides details on TIFs, including how they work, eligible project costs, and strategies for converting future TIF revenues into upfront funding for projects. It also discusses other local funding tools and developer-funded infrastructure options.
This document discusses economic development tools and strategies for local governments. It provides an overview of new tools like site-specific tax revenue pledges and EB-5 immigrant investor programs. It also discusses existing tools such as ground leases, lease-leasebacks, and infrastructure financing districts. The document presents case studies of projects in Redondo Beach, Hollywood, and Norco that utilized these tools to stimulate economic development. It concludes with a discussion of how infrastructure financing districts could help replace lost tax increment financing capabilities.
Enhanced Infrastructure Districts (EIFDs) are a new tool created by California legislation that allow local governments greater flexibility to fund infrastructure and community development projects. EIFDs can be formed by cities or counties to invest in public facilities and projects of community significance. They have more power than previous funding mechanisms, including a lower voter approval threshold of 55% to issue bonds. EIFDs also have broad discretion over what types of public and private development projects they can support through financing and public-private partnerships.
Unlocking the Development Finance ToolboxRPO America
During the 2019 National Regional Transportation Conference and National CEDS Forum (June 2019, Columbus, OH), Tim Fisher shared an overview of tools used in development finance for transportation and many other types of projects.
Item # 4 - Public Improvement District (PID) Policyahcitycouncil
The document is a city council agenda memorandum regarding the adoption of a policy for public improvement districts (PIDs) in Alamo Heights, Texas. It provides background on a proposed PID along Broadway to fund streetscape enhancements like landscaping and lighting through special assessments on benefiting properties. It outlines the proposed PID policy requirements, including the petition and approval process, eligible project types that prioritize beautification, and ensuring PIDs are self-funded. It recommends the city council adopt the PID policy resolution.
Addressing poverty with community developement bonds sola bickerstethSola Bickersteth
Poverty in our society can be substantially reduced by 1. creating Financial Inclusion Centers ( FIC) in local communities 2. Deploying professionally competent Financially Services Agents to operate the FIC 3. Building a bio-metric database and on boarding of the residents , properties and resources in the community 4. Conducting a community development stakeholder needs assessment 5. Negotiate tax breaks with the Local/state government 6. Issue a Community Development Bond on the local stock exchange 7. Implement a digital repayment system by all on boarded community stakeholders
Financing the 2030 SDGs with Community Development Bonds sola bickerstethSola Bickersteth
Community Development ( CD ) Bonds are proposed to raise finance directly from local citizens through the capital market and to be invested in major infrastructure projects especially those aligned to achieving the SDGs..
The proposed CID Bonds provides for a mechanism for sharing public sector risk with private sector reward as well as a sustainable model for financing community development.
This article sets out the basic framework for issuing Community Development ( CD) Bonds and provides answers to the various components of a successful implementation in Nigeria
This document provides a summary of key points from chapters 8 and 9 of an ACC 410 accounting textbook. It includes 20 multiple choice and true/false questions covering topics like governmental debt, accounting for capital vs operating leases, reporting requirements for various types of debt like revenue bonds, tax anticipation notes, and conduit debt.
The cultural assets and heritage of Ohio's Appalachian region are strengths that local leaders should strive to capitalize upon. Successful small town redevelopment is dependent upon integrating the arts and historic rehabilitation. During this session, learn how stakeholders in Ohio are working toward building vibrant communities that attract new businesses, new residents, and more visitors.
This document provides an overview and strategies for advocacy related to appropriations for the National Association of Development Organizations (NADO) conference. It discusses the recent completion of the FY22 appropriations process and priorities for FY23 funding requests, including $50M for EDA/EDD Partnership Planning Funding and $18M for ARC/Local Development Districts. It outlines action plans for advocacy meetings, including stressing local impacts and following up after meetings.
This document discusses the process and requirements for political subdivisions in Minnesota to grant property tax abatements to private broadband providers. It states that abatements must provide public benefits and be in the public interest, such as increasing the tax base or providing jobs and services. It outlines the abatement approval process, duration limits of up to 20 years, and allows abatements to be financed through general obligation bonds without an election. The proposed structure would have participating governments issue bonds to loan funds to a private provider to reimburse costs of installing fiber cables.
The Blue Ribbon Commission on Transportation Funding was formed by the Morrisville Town Council in 2013 to study possible funding sources for transportation projects and report their findings. The 11-member Commission evaluated 17 financing methodologies and funding sources using criteria of sufficiency, timeliness, predictability, equity, suitability, and cost.
The Commission recommended the Town continue using general obligation bonds, property tax, motor vehicle registration fee, Powell Bill funds, development requirements, NCDOT STIP funding, CAMPO/Federal funding, and CDBG infrastructure grants. The Commission agreed these sources were sufficient, timely, predictable, equitable, suitable and low-cost options for funding transportation.
This document provides information about a community resources presentation on the Center for Business and Education (CBE) development project. It includes the agenda, introduction to community resources, accomplishments, tie to visioning results, public processes for CBE, current status and funding, next steps and timeline, mixed commerce zoning uses, and opportunities for questions and comments.
Why Industrial Revenue Bonds are an Attractive Financing OptionQuarles & Brady
IRB's are designed as an economic development tool that fuels economic growth. They provide access to lower interest rates and extended repayment schedules. Join us to learn when Industrial Revenue Bonds are the right financing solution for real estate, construction, and equipment for a new or expanded business location. The presenters addressed the business case for IRB financing, available transaction structures, and what's happening in Washington, D.C.
2-2016 - Tackling the Infrastructure DeficitShane Skelton
The US faces a large infrastructure deficit, estimated at $3.6 trillion needed by 2020. The Highway Trust Fund, which funds domestic highway projects through a gas tax, faces a growing shortfall as maintenance costs outpace tax revenues. The EB-5 immigrant investor program has potential to help fund infrastructure by drawing $7.35 billion in overseas investment from 2010-2014. However, current rules prohibit using EB-5 for public infrastructure due to risk requirements. Allowing EB-5 funding of public projects like highways could help address the infrastructure funding gap at no cost to taxpayers.
The Young School Disposition Meeting agenda covered introducing the DC Department of General Services (DGS) and their role in managing surplus property, providing background on Young School and why it was deemed surplus by DCPS in 2008, and outlining the surplus and disposition processes. Next steps include DGS releasing a Request for Offers for Young School to charter schools on July 15th and a follow up community meeting where selected charter school offers would be presented.
This document summarizes private sector investment opportunities and challenges in Vietnam's water sector. It discusses two case studies of private water projects in Vietnam - the Binh An and Thu Duc projects - that faced issues such as delays, disputes over contract terms, and tariffs below cost recovery. It recommends that Vietnam establish a market-based tariff system to attract more private investment, transition subsidies gradually, and provide guarantees to build investor confidence as Vietnam develops its domestic capital markets and water companies' creditworthiness. Clear contracts with defined rights and competitive tariff benchmarks are also seen as important for successful private water projects.
Keys to Meeting Stimulus Program Reporting RequirementseCivis Inc
Local governments must meet new reporting requirements to receive stimulus funds. Quarterly reports are due containing details of awards, expenditures, projects, and jobs. Preparing includes tracking funds separately, communicating deadlines, and coordinating reporting across departments. Two counties presented their preparations, including committees to coordinate applications and reporting, and systems to separately account for and track stimulus awards.
Risks & Advantages of P3 Projects by Sid Scott, Hill InternationalRoland_Nikles
Provides overview of the current status (March 2014) of public/private partnerships for development of horizontal and vertical infrastructure in the United States.
OEDA Infrastructure Puzzle Power Point 3-3-15David Robinson
This document discusses infrastructure financing strategies for economic development projects. It introduces the concept of an "Infrastructure Puzzle" where multiple funding sources must be pieced together to finance infrastructure projects. These sources include local funding mechanisms like tax increment financing (TIF) and special assessment districts, as well as state, federal, and private sector funding. The document provides details on TIFs, including how they work, eligible project costs, and strategies for converting future TIF revenues into upfront funding for projects. It also discusses other local funding tools and developer-funded infrastructure options.
This document discusses economic development tools and strategies for local governments. It provides an overview of new tools like site-specific tax revenue pledges and EB-5 immigrant investor programs. It also discusses existing tools such as ground leases, lease-leasebacks, and infrastructure financing districts. The document presents case studies of projects in Redondo Beach, Hollywood, and Norco that utilized these tools to stimulate economic development. It concludes with a discussion of how infrastructure financing districts could help replace lost tax increment financing capabilities.
Enhanced Infrastructure Districts (EIFDs) are a new tool created by California legislation that allow local governments greater flexibility to fund infrastructure and community development projects. EIFDs can be formed by cities or counties to invest in public facilities and projects of community significance. They have more power than previous funding mechanisms, including a lower voter approval threshold of 55% to issue bonds. EIFDs also have broad discretion over what types of public and private development projects they can support through financing and public-private partnerships.
Unlocking the Development Finance ToolboxRPO America
During the 2019 National Regional Transportation Conference and National CEDS Forum (June 2019, Columbus, OH), Tim Fisher shared an overview of tools used in development finance for transportation and many other types of projects.
Item # 4 - Public Improvement District (PID) Policyahcitycouncil
The document is a city council agenda memorandum regarding the adoption of a policy for public improvement districts (PIDs) in Alamo Heights, Texas. It provides background on a proposed PID along Broadway to fund streetscape enhancements like landscaping and lighting through special assessments on benefiting properties. It outlines the proposed PID policy requirements, including the petition and approval process, eligible project types that prioritize beautification, and ensuring PIDs are self-funded. It recommends the city council adopt the PID policy resolution.
Addressing poverty with community developement bonds sola bickerstethSola Bickersteth
Poverty in our society can be substantially reduced by 1. creating Financial Inclusion Centers ( FIC) in local communities 2. Deploying professionally competent Financially Services Agents to operate the FIC 3. Building a bio-metric database and on boarding of the residents , properties and resources in the community 4. Conducting a community development stakeholder needs assessment 5. Negotiate tax breaks with the Local/state government 6. Issue a Community Development Bond on the local stock exchange 7. Implement a digital repayment system by all on boarded community stakeholders
Financing the 2030 SDGs with Community Development Bonds sola bickerstethSola Bickersteth
Community Development ( CD ) Bonds are proposed to raise finance directly from local citizens through the capital market and to be invested in major infrastructure projects especially those aligned to achieving the SDGs..
The proposed CID Bonds provides for a mechanism for sharing public sector risk with private sector reward as well as a sustainable model for financing community development.
This article sets out the basic framework for issuing Community Development ( CD) Bonds and provides answers to the various components of a successful implementation in Nigeria
Connecting global & regional finance to projects - Finance for #SDGs High Level Meeting – #financeforSDGs – Christoph Waldersee – Bellagio – 25-27 February 2015
The document discusses how infrastructure financing tools can be integrated with smart growth principles to support more sustainable development patterns. It provides an overview of smart growth priorities and different infrastructure financing options. The author argues that infrastructure financing is often overlooked in planning, but that certain tools, like development charges, can inherently encourage smart growth if designed properly. The document also examines opportunities to adapt existing tools and create new financing mechanisms that preserve municipal autonomy while promoting compact, mixed-use development.
This document discusses various techniques for public-private partnerships that can be used to promote economic development. It outlines tools like tax increment financing (TIF), tax abatement, Chapter 380 grants, certificates of obligation, hotel occupancy taxes, and development agreements. These techniques allow municipalities to provide funding, incentives, and infrastructure support to attract private investment and stimulate business activity. The document provides an overview of how each technique works and the processes involved.
This document summarizes a presentation given in Baghdad on using sovereign credit to finance power sector infrastructure projects in Iraq. It discusses how sovereign guarantees could help satisfy lenders, provide access to international markets, and enhance financing terms for Iraq. While Iraq's electricity sector currently does not meet standards for traditional financing, a sovereign guarantee could act as credit enhancement until reforms are made. The presentation outlines the process of establishing sovereign credit under Iraqi law and proposes a path forward for its use on power projects.
Information for Cuyahoga County applicants to the State Infrastructure Programs
This presentation was shown at workshops on July 23 and 24, 2018.
http://www.countyplanning.us/services/grant-programs/infrastructure-programs/
India’s Infrastructure Challenges Experimenting with the Public Private Partn...ABHISHEK THAKKAE
The document discusses public-private partnerships (PPPs) as an alternative model to traditional budgetary support for infrastructure projects in India. It introduces concepts of PPPs, outlines the roles of government and private partners, and examines key considerations like risk allocation, capacity building, and regulatory frameworks. The document also provides examples of PPPs in the road sector and discusses internal controls and accounting standards for PPPs.
The document summarizes a rating report by Fitch IBCA on new bond issues by the E-470 Public Highway Authority to finance construction of the final segment of the E-470 toll road in Denver. Fitch rates the new bonds BBB- based on the toll road's established operating history, conservative traffic projections, strong liquidity position, and experienced management team. However, coverage of debt service by toll revenues will be weak in the near term and the project remains highly leveraged.
The document is a funding proposal from Post Road Advisors for a feasibility study on a proposed waste to energy plant in Port Harcourt, Nigeria. Post Road Advisors would provide financial advice and structure funding opportunities for the project. The proposal outlines a typical 3 phase process for non-recourse infrastructure projects - a feasibility study phase, an analysis and syndication phase, and a documentation and funding phase. It then discusses structuring the project using a Private Public Partnership model and the steps that would be taken in the feasibility study to analyze financing options for the waste to energy plant.
This document discusses public-private partnerships (P3s) for infrastructure projects. It defines P3s and describes common P3 models including design-build, design-build-finance-operate, and long-term leases. P3s can help address infrastructure funding gaps by leveraging private financing and efficiencies. Massachusetts law allows for P3s through design-build statutes and special acts. The document outlines considerations for successful P3 projects including clear revenue streams, risk allocation, and public support. P3s may be most applicable for water/wastewater projects and developing underutilized public real estate assets.
This document provides an overview of project finance for power generation projects. It defines project finance and differentiates it from other types of finance. Some key aspects covered include:
- Project finance uses a special purpose vehicle to finance infrastructure projects on a limited or non-recourse basis.
- Risks are allocated optimally through contracts between the project consortium members.
- Credit ratings consider the standalone credit profile of the project based on operational and construction risk factors.
- Projects require diligence on financial modeling, engineering reviews, market assessments, and ensuring permits and commitments are in place.
- Exhibits provide more details on engineering procurement construction management, legal structures, and benchmarking power plant costs
NRG Building Solutions provides renewable energy financing from various investment groups. It searches for projects meeting investor criteria and assists clients through the application process. NRG has experience financing various renewable energy projects including wind, solar, biomass, and more. It can offer financing terms such as long term debt financing up to 100% of projects that are a minimum of $10 million. NRG works to expedite the funding process by directly communicating between clients and investors.
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This document briefly explains the June compliance calendar 2024 with income tax returns, PF, ESI, and important due dates, forms to be filled out, periods, and who should file them?.
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Business law for the students of undergraduate level. The presentation contains the summary of all the chapters under the syllabus of State University, Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act, Limited Liability Act, Consumer Protection Act.
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2. DevelopmentPlanning&FinancingGroup,Inc.
About Us
Development Planning & Financing Group, Inc.
Organization
Founded in 1991
Business Purpose
• Financing public improvements
• Reducing public infrastructure costs
• Mitigating Risk
• Enhancing project profitability
Personnel
• Grown to 60 team members in 9 states
Performance
• Established over 2,000 special taxing
districts
• 100% of all Idaho CIDs
• Approximately $15+ billion in bonds issued
Affiliates
AXIS Business
Advisory Services
Advisory services, real
estate turnaround and
restructuring firm
Katalyst, Inc.
Planning and urban
design firm
DevelopmentPlanning&FinancingGroup,Inc.
2
4. DevelopmentPlanning&FinancingGroup,Inc.DevelopmentPlanning&FinancingGroup,Inc.
4
Spink Butler, LLP is a dynamic,
innovative, and results-oriented
law firm, serving clients in a
variety of areas including:
Real Estate Law
Land Use Law and Planning
Title Insurance Law
Construction Law
We cultivate relationships within our communities, the legal
profession, and the clients we serve to find a meaningful
pattern in the many factors that create today’s constantly
changing world and impact our clients and their businesses.
When you connect with one of us, you connect with all of us –
a group of people with extensive training, focused on providing
exceptional client service with an emphasis on value. By
working together cooperatively, Spink Butler achieves the
important common goal of providing excellent legal
representation for our clients.
The strategies we propose are tailored to align with our clients’
overall business needs, their risk tolerance and their budget.
Spink Butler has a rich history and culture of community
involvement. We are especially proud of our many employees
who contribute their time, enthusiasm, leadership, support and
fundraising skills to numerous community and charitable
activities.
5. DevelopmentPlanning&FinancingGroup,Inc.
Development Challenges
Developers are required to provide publicDevelopers are required to provide public
infrastructure, even if infrastructure serves aninfrastructure, even if infrastructure serves an
area outside of their development.area outside of their development.
Jurisdictional requirements for infrastructureJurisdictional requirements for infrastructure
remains high, often requiring developers toremains high, often requiring developers to
pay for additional offsite infrastructure.pay for additional offsite infrastructure.
Impact fees continue to rise.Impact fees continue to rise.
Construction loans can be difficult to obtain.Construction loans can be difficult to obtain.
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6. DevelopmentPlanning&FinancingGroup,Inc.
Financing Options
A.A. Status QuoStatus Quo
ThirdThird partyparty loans, parent advances, partnersloans, parent advances, partners
i.i. Financial reporting as a liabilityFinancial reporting as a liability
ii.ii. High interest ratesHigh interest rates
iii.iii. Short term payback periods (2 to 3 years)Short term payback periods (2 to 3 years)
iv.iv. Principal and interest repayment to lenderPrincipal and interest repayment to lender
B.B. Community Infrastructure District FinancingCommunity Infrastructure District Financing
i.i. Possible off-balance sheet treatmentPossible off-balance sheet treatment
ii.ii. Tax exempt interest ratesTax exempt interest rates
iii.iii. 30 year amortization period30 year amortization period
iv.iv. Payback obligation passed on to end usersPayback obligation passed on to end users
DevelopmentPlanning&FinancingGroup,Inc.
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7. DevelopmentPlanning&FinancingGroup,Inc.DevelopmentPlanning&FinancingGroup,Inc.
Idaho District Type Comparison Matrix
Urban Renewal
District
Local
Improvement
District
Community
Infrastructure District
Purpose Encouraging
Redevelopment of
decaying or blighted
urban areas
Financing installation,
repair or updating local
infrastructure in
existing or new areas
Financing installation of
regional infrastructure in
new or existing areas
Location City or County City or County City or City’s
Comprehensive Planning
Area
Governing board: Entirely in
City
City Council or
appointees
City Council 3 members of City Council
Entirely in County County Commission or
appointees
County Commission County Commission
Overlapping
2 members from each
governing board plus 1
from the jurisdiction with
most land in District.
Eligible Costs X = Reimbursement Available
Planning X X X
Design X X X
Engineering X X X
Construction X X X
Installation X X X
Application Costs X X X
Impact Fees X
Other construction costs X X X
Utilities X X X
Irrigation systems X
Roads & bridges X X X
Parks & Pathways X X X
Landscaping X X X
Recreational facilities (i.e. playgrounds)
X X X
Parking facilities X X X
Public safety facilities X
Demolition & removal of buildings X X
Land acquisition X X X
TIF bonds allowed X
Special assessment bonds allowed X X
Revenue bonds allowed X
General obligation bonds allowed X
Vote required?
TIF bonds No
Special assessment bonds Hearing only Hearing only
Revenue bonds No
General obligation bonds Yes
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8. DevelopmentPlanning&FinancingGroup,Inc.
CID Background
What is a CID?What is a CID?
– Legislation passed in 2008Legislation passed in 2008
– Special purpose district distinct from a general purposeSpecial purpose district distinct from a general purpose
municipalitymunicipality
– Used to acquire/construct public infrastructureUsed to acquire/construct public infrastructure
– Project financed with tax exempt bondsProject financed with tax exempt bonds
– Bond obligations are passed on to property owners thatBond obligations are passed on to property owners that
benefit from infrastructurebenefit from infrastructure
Additional FactsAdditional Facts
– District can be in an incorporated CityDistrict can be in an incorporated City oror a City’sa City’s
comprehensive planning area within a County with the City’scomprehensive planning area within a County with the City’s
consent,consent, oror both.both.
– City/County is not responsible for debt of the CIDCity/County is not responsible for debt of the CID
– Requires public bidding of CID public infrastructureRequires public bidding of CID public infrastructure
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9. DevelopmentPlanning&FinancingGroup,Inc.
Eligible CID Infrastructure
Public infrastructure that directly or indirectly benefitPublic infrastructure that directly or indirectly benefit
the CID, and are of the type defined by the Idahothe CID, and are of the type defined by the Idaho
Impact Fee Statute, including:Impact Fee Statute, including:
1.1. Roadways (including rights of way)Roadways (including rights of way)
2.2. Water, sewer and storm water projectsWater, sewer and storm water projects
3.3. Flood control and drainage projectsFlood control and drainage projects
4.4. Lighting and traffic controlLighting and traffic control
5.5. Landscaping and lakesLandscaping and lakes
6.6. Parks and recreational facilities (and sites)Parks and recreational facilities (and sites)
7.7. TrailsTrails
8.8. Public safety facilities (and sites)Public safety facilities (and sites)
9.9. Public parking facilitiesPublic parking facilities
10.10. Real property for eligible improvementsReal property for eligible improvements
11.11. Financing costsFinancing costs
12.12. Impact feesImpact fees
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Mechanics of District Formation
Petition by 2/3 of Proposed District Residents or All LandPetition by 2/3 of Proposed District Residents or All Land
Owners in Proposed DistrictOwners in Proposed District
– Map and Legal Description of Proposed DistrictMap and Legal Description of Proposed District
– General PlanGeneral Plan
– District Development AgreementDistrict Development Agreement
General PlanGeneral Plan
– Type of InfrastructureType of Infrastructure
– Location of InfrastructureLocation of Infrastructure
– Estimated Cost of InfrastructureEstimated Cost of Infrastructure
– Proposed Financing MethodsProposed Financing Methods
– Anticipated Assessments/Taxes/ChargesAnticipated Assessments/Taxes/Charges
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11. DevelopmentPlanning&FinancingGroup,Inc.
Mechanics of District Formation (Cont.)
District Development AgreementDistrict Development Agreement
– Obligations of the PartiesObligations of the Parties
– Administration of the District; Payment of DistrictAdministration of the District; Payment of District
Administrative ExpensesAdministrative Expenses
– Total Amount of Financing Available: GO Bonds; RevenueTotal Amount of Financing Available: GO Bonds; Revenue
Bonds; Special AssessmentsBonds; Special Assessments
– Public Bidding RequirementsPublic Bidding Requirements
– Developer-Constructed Infrastructure – Conveyance toDeveloper-Constructed Infrastructure – Conveyance to
Applicable Public AgencyApplicable Public Agency
– District-Constructed InfrastructureDistrict-Constructed Infrastructure –– Conveyance toConveyance to
Applicable Public AgencyApplicable Public Agency
– Cost-Sharing Mechanism for Oversized Infrastructure UsedCost-Sharing Mechanism for Oversized Infrastructure Used
Outside of District BoundariesOutside of District Boundaries
– Disclosure NoticeDisclosure Notice
Notice and HearingNotice and Hearing
Resolution of Local Government(s) Forming DistrictResolution of Local Government(s) Forming District
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12. DevelopmentPlanning&FinancingGroup,Inc.
CASE LAW
COMMUNITY INFRASTRUCTURE DISTRICT
Judicial ConfirmationJudicial Confirmation
– Judge Greenwood -Judge Greenwood -
District Court of AdaDistrict Court of Ada
CountyCounty
– Opinion issued March 24,Opinion issued March 24,
20142014
– In the Matter of: SpringIn the Matter of: Spring
Valley CommunityValley Community
Infrastructure District No.Infrastructure District No.
1 Eagle, Ada County,1 Eagle, Ada County,
IdahoIdaho
– Case No: CV-OC-2013-Case No: CV-OC-2013-
158882158882
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CASE LAW
COMMUNITY INFRASTRUCTURE DISTRICT
QuestionsQuestions
Considered by CourtConsidered by Court
– Does landowner limitationDoes landowner limitation
on right to petition for CIDon right to petition for CID
violate Idaho or U.S.violate Idaho or U.S.
Constitutions?Constitutions?
– Does allowing landDoes allowing land
owners, whether residentowners, whether resident
or not, to vote on CIDor not, to vote on CID
violate Idaho or U.S.violate Idaho or U.S.
Constitution?Constitution?
DevelopmentPlanning&FinancingGroup,Inc.
– Did the special electionDid the special election
comply with the CID Actcomply with the CID Act
and other Idaho statutes?and other Idaho statutes?
– Are debts issued by aAre debts issued by a
CID an unconstitutionalCID an unconstitutional
delegation of taxingdelegation of taxing
authority?authority?
– Do proportional votingDo proportional voting
qualification of the Actqualification of the Act
violation Idaho or U.S.violation Idaho or U.S.
Constitution?Constitution?
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14. DevelopmentPlanning&FinancingGroup,Inc.
CASE LAW
COMMUNITY INFRASTRUCTURE DISTRICT
Does landowner limitationDoes landowner limitation
on right to petition for a CIDon right to petition for a CID
violate Idaho or U.S.violate Idaho or U.S.
Constitutions?Constitutions?
–Not entirely accurateNot entirely accurate
question. Landownersquestion. Landowners
(including nonresident(including nonresident
landowners) or 2/3rds oflandowners) or 2/3rds of
residents can petition forresidents can petition for
forming a CID.forming a CID.
–Filing petition is not anFiling petition is not an
election and is thereforeelection and is therefore
allowable under bothallowable under both
Constitutions.Constitutions.
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15. DevelopmentPlanning&FinancingGroup,Inc.
CASE LAW
COMMUNITY INFRASTRUCTURE DISTRICT
Does providing landowners,Does providing landowners,
including nonresidentincluding nonresident
landowners, the ability tolandowners, the ability to
vote in a CID electionvote in a CID election
violate the Idaho or U.S.violate the Idaho or U.S.
Constitution?Constitution?
–Yes.Yes.
–Must be either a residentMust be either a resident
within the district or awithin the district or a
resident landowner withinresident landowner within
thethe countycounty where CIDwhere CID
located.located.
–Implications for corporateImplications for corporate
landholders.landholders.
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16. DevelopmentPlanning&FinancingGroup,Inc.
CID Bond Types
Description Revenue
Bond
General Obligation Bond Special Assessment Bond
Responsible for
Repayment
Users of the
facilities
Land owners within the
boundaries of the District.
(Note: If land owners
default, remaining land
owners pick up additional
tax.)
Land owners benefiting from
constructed infrastructure
Land owners are only
responsible for their special
assessment lien
Ability to
prepay?
Yes No Yes
Tax Billing Municipality
or District
County – Passed through
on the County tax bill
County – Passed through on
the County tax bill
Superiority of
lien
No lien on
property
First position behind
existing property taxes
First position behind existing
property taxes
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Comparison of CID Bond Types
Description Revenue Bond General Obligation
Bond*
Special Assessment Bond
Typical Use Existing asset Raw land Raw land
Funds Used
to Acquire or
Construct
Acquisition
(Typically)
Construction or
Acquisition
Construction or Acquisition
Security for
Bonds
Revenue
stream
Ad valorem property tax • Specific lien on a specific
property
• 10% reserve fund
Bond Sizing Revenue
stream
Assessed value of
property
The fair market value of the
property
Timing of
Funds
• Slower – need for
election
• Over build-out of project
• Reimbursement
(typically)
• Faster – establish up front
• Phase by phase
• Construction and/or
reimbursement
DevelopmentPlanning&FinancingGroup,Inc.
* Requires an election in May or November.
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18. DevelopmentPlanning&FinancingGroup,Inc.
Non-Contiguous CID Overview
Multiple property owners comeMultiple property owners come
together within a jurisdiction totogether within a jurisdiction to
establish a single non-establish a single non-
contiguous CID.contiguous CID.
– Projects anticipated to beProjects anticipated to be
smaller;smaller;
– Projects may include raw, semi-Projects may include raw, semi-
improvedimproved or finished lotsor finished lots;;
– Eligible expenditures may beEligible expenditures may be
public infrastructure and/orpublic infrastructure and/or
development impact fees.development impact fees.
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Overview (cont.)
Special Assessment BondsSpecial Assessment Bonds
– Land only required as security;Land only required as security;
Value to lien requirementValue to lien requirement
Non-recourseNon-recourse
– Bond issue based on FMV of property;Bond issue based on FMV of property;
– Bond issuances may be phased with constructionBond issuances may be phased with construction
activity;activity;
– Builder parcels areBuilder parcels are NOT CROSSNOT CROSS
COLLATERALIZEDCOLLATERALIZED with one another.with one another.
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20. DevelopmentPlanning&FinancingGroup,Inc.
Overview (cont.)
Developer A
Developer C
Developer B
Developer D
Jurisdictional Boundary
Bond Issue #1 Bond Issue #2
Semi-Improved
(Impact Fees)
Raw Land
(Regional Infrastructure
& impact Fees)
Raw Land
(Regional Public
Infrastructure)
Finished Lots
(Impact Fees)
DevelopmentPlanning&FinancingGroup,Inc.
Within District-
not included in
Bond Issuance
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21. DevelopmentPlanning&FinancingGroup,Inc.
Comparative One-time Fees
Sample CitySample City
Sewer hookupSewer hookup $2,749$2,749
Water hookupWater hookup $2,075$2,075
Impact feeImpact fee $1,846$1,846
HighwayHighway
District impactDistrict impact
feefee
$3,047$3,047
Total feesTotal fees $9,717$9,717
Number ofNumber of
lotslots
10001000
Fees by CIDFees by CID $9,717,000$9,717,000
DevelopmentPlanning&FinancingGroup,Inc.
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22. DevelopmentPlanning&FinancingGroup,Inc.
Example of Non-Contiguous CID
Number of LotsNumber of Lots 1,0001,000
Fees per LotFees per Lot $9,717$9,717
Total Fees FundedTotal Fees Funded $9,717,000$9,717,000
District Cost of Issuance (COI)District Cost of Issuance (COI)
Costs Reimbursed (23%)Costs Reimbursed (23%)
COI / Underwriter (6%)COI / Underwriter (6%) $583,000$583,000
Reserve Fund (10 %)Reserve Fund (10 %) $972,000$972,000
1 Year of Capitalized Interest (7%)1 Year of Capitalized Interest (7%) $680,000$680,000
$2,235,000$2,235,000
Estimated Bond Amount (Rounded)Estimated Bond Amount (Rounded) $11,952,000$11,952,000
Assessment per LotAssessment per Lot $11,952$11,952
Interest RateInterest Rate (May vary at time of issuance)(May vary at time of issuance) 7.0%7.0%
Annual Debt Service per LotAnnual Debt Service per Lot (29 years)(29 years) $974$974
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23. DevelopmentPlanning&FinancingGroup,Inc.
Overview (cont.)
Benefits to DevelopersBenefits to Developers (assuming $9,717 in fees(assuming $9,717 in fees
per lot funded)per lot funded)
– Reduce lot costs / home price by approximatelyReduce lot costs / home price by approximately
$10,000 to $15,000;$10,000 to $15,000;
– Reduce equity contribution and/or 3Reduce equity contribution and/or 3rdrd
partyparty
borrowing;borrowing;
– Utilize tax exemptUtilize tax exempt borrowingborrowing rates;rates;
– Up to 3 years of capitalized interest;Up to 3 years of capitalized interest;
– CID obligations passed on to homeowners.CID obligations passed on to homeowners.
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24. DevelopmentPlanning&FinancingGroup,Inc.
Overview (cont.)
Benefits to JurisdictionBenefits to Jurisdiction
– Jump start construction activity;Jump start construction activity;
– Accelerate receipt of development impact fees;Accelerate receipt of development impact fees;
– Maintain home prices at “affordable” levels;Maintain home prices at “affordable” levels;
– Create jobs within the community.Create jobs within the community.
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25. DevelopmentPlanning&FinancingGroup,Inc.
Next Steps
1.1. Identify jurisdiction, developers and projectsIdentify jurisdiction, developers and projects
to be included in a CID.to be included in a CID.
2.2. Determine bonding capacity & eligibleDetermine bonding capacity & eligible
infrastructure/fees.infrastructure/fees.
3.3. Prepare finance plan.Prepare finance plan.
4.4. Discuss finance plan with jurisdiction.Discuss finance plan with jurisdiction.
5.5. Establish district / issue bonds.Establish district / issue bonds.
6.6. Timing: 9 to 12 months.Timing: 9 to 12 months.
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Contact
Kent Rock
DPFG
950 W. Bannock, 11th
Floor
Boise, ID 83702
(208) 340-5146
kent.rock@dpfg.com
DevelopmentPlanning&FinancingGroup,Inc.
JoAnn C. Butler
Spink Butler, LLP
251 E. Front Street, Suite 200
Boise, ID 83702
(208) 388-1000
jbutler@spinkbutler.com
Chad W. Lamer
Spink Butler, LLP
251 E. Front Street, Suite 200
Boise, ID 83702
(208) 388-0245
clamer@spinkbutler.com
Follow on Twitter @ChadLamer
Contributor to http://idaholandlaw.com/
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