With the loss of redevelopment in 2012, the State has created new “sustainability districts” (EIFDs, CRIAs, NIFTIs, AHAs) that enable tax increment financing (TIF) to address major infrastructure, sustainability, and housing needs. Since their creation in 2014, legislation has continued to improve these districts by expanding housing incentives and enabling the use of TIF for maintenance costs.
Kosmont Companies is working with dozens of jurisdictions on forming infrastructure districts to fund transformative housing, transportation, Transit-oriented Development (TOD), open space, and brownfield reuse projects, including the first recently approved City/County district in Placentia.
Front-end funding is key! There are new and expanded funding sources for cities and counties looking to evaluate Enhanced Infrastructure Financing Districts (EIFs) or bridge the gap after EIFD formation.
