Statewide Community Infrastructure Program

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Presentation transcript:

Statewide Community Infrastructure Program A Program of the California Statewide Communities Development Authority

Statewide Community Infrastructure Program (SCIP) Any County / Special District / City can participate in SCIP to provide the local agency the means of offering competitive financing to all developers as a turn key solution, minimizing local agency staff time. The bonds are issued by the California Statewide Communities Development Authority (CSCDA) which is a Joint Powers Authority sponsored by the California State Association of Counties and League of California Cities to promote bond programs of public benefit to its members. These are 30 year fixed-rate tax-exempt bonds secured by property assessments.

What Can be Financed through the Program? Eligible Fees Fees for infrastructure to be owned by public agency Does not include school, housing, fire, and police fees Eligible Improvements Improvements identified in the 1913 / 1915 Assessment Act, including but not limited to, are listed below: Street and Roadways Freeway Interchanges Pedestrian Malls Sidewalks Storm Drainage Flood Control Water Supply Gas Supply Street lighting Parking Landscaping Sewer and Pipelines Parks and Parkways Bridges and Thoroughfares Bicycle and Pedestrian Trails Open Space and Greenbelts

Local Agency Requirements Must be a Member of CSCDA (no cost to join and CSCDA currently has 532 members) Adopt SCIP Resolution consenting to use of the SCIP Program (again no cost to join) Sample Resolutions and Agreements are contained in the SCIP Manual and proposal by SCIP Legal Counsel Developers can submit funding applications online but they must be signed by the Local Agency prior to the Public Hearing Will review and verify eligible fees and improvements contained in the Engineer's Report prepared by SCIP Will execute an acquisition agreement to reimburse developer for public improvements, the form of which is included with the SCIP Resolution Funds will be spent in accordance with federal tax law Approve requisition of funds

SCIP Tasks and Responsibility Schedule Pass SCIP Resolution & Approve Applications Conduct the proceedings Issue Bonds Administering the District Entitlements Payment of Fees or Completion of Improvements Bond Payments (Investor Risk) Local Agencies Developers and Local Agencies Admin. includes: Tax Roll Lot Splits Rebate Continuing Disclosure Foreclosure Developers Developers

Questions Contact James Hamill Managing Director CSCDA (925) 476-5644 jhamill@cscda.org