EIFD Train Coming to Placentia with Orange County Onboard

PLACENTIA - CALIFORNIA'S FIRST COUNTY-CITY EIFD PARTNERSHIP

Photo from left to right: SCAG Regional Planner Specialist Kimberly Clark, Placentia Councilmember Chad P. Wanke, Orange County Supervisor / Chairwoman Lisa A. Bartlett, Orange County Supervisor Doug Chaffee, Placentia Mayor Pro Tempore Ward Smith, Placentia City Administrator Damien Arrula, Director of Public Works Luis Estevez, Kosmont Sr . Vice President Joseph Dieguez

COUNTY OF ORANGE

& CITY OF PLACENTIA

PARTNER UP ON EIFD

Affirmative vote by both public agencies in Feb/April 2019 to commence EIFD District formation activities

Public Financing Authority in process of formation. Review and adoption of Infrastructure Financing Plan (IFP) anticipated in Q2/Q3 2019

EIFD to fund TOD related infrastructure including street, circulation, water/sewer, and sidewalk upgrades

The Story: Kosmont Companies is at the forefront of assisting communities with EIFD formation. R ecently, Orange County and the City of Placentia took the first steps to become the first city-county EIFD partnership in California.

In partnership with SCAG (the Southern California Association of Governments), Kosmont work ed closely with the City and County through the process from initial feasibility analyses to district formation in an effort to strategically use the EIFD tool.

The District: The EIFD area is comprised of 7 non-continuous subareas within the City, which is over 300 acres and approximately 7.1% of the City’s 4,243 acres.

The EIFD’s Mission: The Placentia EIFD will fund infrastructure in three key areas of the City: Old Town Placentia, the upcoming Metrolink Station, as well as Transit-Oriented Development near the 57 and 91 freeways . EIFD investment will serve as a catalyst to private development by delivering critical local and regional transportation infrastructure transforming Placentia and the North Orange County region.

The Economic Development Benefits : The Infrastructure improvements—such as transit-supportive, street, circulation, water/sewer, and sidewalk upgrades—will help facilitate approximately $460M in new development value and help the City “produce over 1,600 new units of housing, create 3,900 construction jobs, and over 1,100 permanent jobs at full build out,” according to Mayor Rhonda Shader.

Kosmont is currently assisting over 30 other jurisdictions with tax increment district formation. For more information on EIFDs, please visit: Kosmont EIFDs/CRIAs