It's an EIFD World After All!

Enhanced Infrastructure Financing District (EIFD)

Momentum from 2021 carries into 2022 and beyond!

Here are sample EIFD Milestones from 2021:

The City of Placentia and County of Orange EIFD partnership (the first City/County EIFD partnership in the state) successfully achieved judicial validation for the contribution of tax increment from both taxing agencies to the EIFD, potentially paving the way for the first true EIFD tax increment bond, currently in underwriting.

The largest EIFD in the state at over 27,000 acres was formed under a landmark partnership between the City of Palmdale and County of L.A.

Senate Bill 780 was signed (effective 1/1/2022), enabling EIFD and CRIA governing board members to appoint alternates to their seats, simplifying the amendment process for certain Infrastructure Financing Plan changes, and allowing the creation of distinct project areas within EIFDs and CRIAs, among other positive changes.

Show Me The Money! California Department of Housing and Community Development (HCD) launches its Prohousing Designation Program, which among tasks, explicitly increases the competitiveness of local jurisdictions for state grant funding (e.g., AHSC, IIG, TCC) for cities and counties that have EIFDs in place.

Looking forward into 2022, we at Kosmont are watching closely as other state and federal infrastructure and resilience funding (e.g., Community Economic Resilience Fund [CERF]) begin to become available to local agencies.

More EIFDs on the way... We expect the next wave of EIFD formations to occur over the next few months, from City of Carson and Los Angeles County (city/county partnership) and Rancho Cucamonga in Southern California, through the City of Sanger in the Central Valley, up to the Cities of Brentwood and Napa and Counties of Sacramento and Humboldt in Northern California.

Stay tuned, reach out with questions, and look for the Kosmont team at the Cal Cities City Managers Conference in Monterey, February 2-4, 2022!

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CONTACT US

Kosmont Companies is an economic development, real estate, and public finance advisor. We have been assisting the public and private sectors for decades in bringing plans and projects to fruition. Kosmont Companies is proud to be in the Los Angeles Business Journal 2022 Book of Lists as one of the Top 100 Minority-Owned Businesses

Larry J. Kosmont, CRE®

Chairman & CEO

(213) 507-9000 / Email Larry

Ken K. Hira

President

(949) 226-0288 / Email Ken

Joseph Dieguez

Senior Vice President

(347) 731-5307 / Email Joe

Dan Massiello

Sr. Vice President - Public Finance

(858) 220-3445 / Email Dan