IFDs, Enhanced IFDs and Infrastructure & Revitalization Financing Districts
Feasibility Studies, Financing Plans, Formation Process
KMA has unmatched experience with the formation of Infrastructure Financing Districts (IFDs), having prepared the financing plans for two of the three IFDs adopted to date in the State of California- Legoland in Carlsbad and Rincon Hill in San Francisco.
IFDs are a property tax increment financing tool to fund public facilities and eligible projects of community significance. While not as robust as Redevelopment, IFDs can be an important funding source for a broad range of improvements, including: public infrastructure, affordable housing, industrial buildings, transit and sustainable community projects, districts, and other needed facilities.
Enhanced Infrastructure Finance Districts (EIFDs) and Infrastructure and Revitalization Financing Districts (IRFDs) are recent new variants of the base IFD legislation. And, an amendment to the EIFD legislation (AB 313) recently passed the California Legislature. The available IFD structures vary with respect to governance, voter-approval requirements, and length of term. Given the differences between the alternative structures, selecting the structure that is most advantageous to each specific situation is a consideration
KMA is currently assisting cities and counties evaluate the revenue-generating capacity of IFDs, select the most appropriate type of IFD, and prepare Infrastructure Financing Plans for jurisdictions throughout the State: