On January 1, 2015 a new set of infrastructure financing tools became available to local governments in California. These tools are designed to give local leaders more authority to work across jurisdictions on city-centered, sustainable development projects that could also tap into private funds. This new authority is set in motion through the new Enhanced Infrastructure Financing Districts law. This new law allows cities and counties in partnership with special districts to create a separate governmental Public Finance Authority that has an extensive list of eligible community development and infrastructure projects covering all or a portion a jurisdiction or region. The new financing tools include a broad range of powers including property tax increment authority, benefit assessments, fees and the ability to enter into public-private partnerships.
A Webinar on Tuesday, January 13, 10-11 am – New Infrastructure Financing Tools for California: Local Infrastructure Financing Authority — will explore the concept behind this new authority, their powers and the practical application of these new tools. You can register and get more information about this webinar and the presenters at http://cityminded.org/cal/infrastructure-financing-tools/ .