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HomeMy WebLinkAbout17 CSCDA_James Hamill SCIP Presentation 6-6-18 RBC Capital Markets Program of the California Statewide Communities Development AuthorityA ProgramCommunity Infrastructure Statewide 1 RBC Capital Markets servicesandimprovementspublicoffinancingforallowwhichDistrictsFacilitiesCommunityRoos-Melloalone-standestablishtoCSCDAallowsalsoProgramThe2003ininceptionitssincebondsinMM450$near lyissuedhasSCIP.Fall)andSpringthe(inyearaissuestwotypicallyareThereassessmentsownerpropertybysecuredbondsexempt-taxrate-fixedyear30areThesemembersitstobenefitpublicofprogramsbondpromotetoCountiesof AssociationStateCaliforniatheandCitiesCaliforniaofLeaguethebysponsoredAuthorityPowersJointaiswhich(CSCDA)AuthorityDevelopmentCommunitiesStatewideCaliforniathebyissuedarebondsThetimestaffagencylocalm inimizingsolution,keyturnaasdevelopersalltofinancingcompetitiveofferingofmeanstheagencylocaltheprovidetoSCIPinparticipatecanDistrictSpecial/County/CityAnydevelopmentsprivateforimprovementspublicandf eesimpactfinancecanwhichprogramfinancingexempttaxpooledaisSCIPWhat is the Statewide Community Infrastructure Program?2 RBC Capital Markets Fees)MaintenanceandOperationsincludeMay:(Note.eligiblearefacilitieswhichspecifying(JCFA)agreementfacilitiesjointaadoptandCFDtheofformationrequestwillAgencyLocalThe.basisalonestand aonCSCDAandSCIPthroughfundedandcreatedbecanCFDsDistricts (CFDs)Community Facilities CFD IssuanceAlone -Stand can be combinedAcquisition Funding Funding Programs and -Reimbursement, PreProgramCombined Funding fundedbeingimprovementsthetoapplieswagePrevailing.agencylocaltheanddeveloperthebetweenagreementacquisitionantopursuantcompletewhenbasisacquisitionanonfinancebecanimprovementsPublicdueotherwi sewhencreditfeeareceivewilldeveloperthewhichforandpermitbuildingatduebenormallywouldwhichfeesimpactpays-Prepaid)arefeesthebeforedays60thanmorenosubmittedbemustApplication:(Note.bondsSCIPtheofIssuance thetopriorbutPermitBuildingatpaidFeesImpactforownerspropertyReimburses Pooled Assessment District Issuance ImprovementsFunding of Public ProgramFunding -PreImpact Fee Reimbursement ProgramImpact Fee DescriptionProgram Type Program Mechanics 3 RBC Capital Markets Gas SupplyWater SupplyFlood ControlStorm DrainageSidewalksPedestrian MallsFreeway InterchangesRoadwaysand Street Space and GreenbeltsOpen Trailsand Pedestrian Bicycle Thoroughfaresand Bridges Parkwaysand Parks Pipelinesand Sewer LandscapingParkingStreet lightingEligible ImprovementsEligible Feesbelow:Act, including but not limited to, are listed Improvements identified in the 1913 / 1915 Assessment feesnot include school, housing, fire, and police Does agencyFees for infrastructure to be owned by public What Can be Financed through the Program?4 RBC Capital Markets fundsofrequisitionApprovelawtaxfederalwithaccordanceinspentbewillFundsResolutionSCIPthewithincludediswhichofformtheimprovements,publicfordeveloperreimbursetoagreementacquisition anexecuteWillSCIPbypreparedReportEngineer'stheincontainedimprovementsandfeeseligibleverifyandreviewWillHearingPublicthetopriorAgencyLocalthebysignedbemusttheybutonlineapplicationsfundingsubmitcanDe velopersCounselLegalSCIPbyproposalandManualSCIPtheincontainedareAgreementsandResolutionsSamplea))jointocostno(againProgramSCIPtheofusetoconsentingResolutionSCIPAdoptmembers)532hascurrentlyCSCDAandj ointocost(noCSCDAofMemberabeMustLocal Agency Requirements 5 RBC Capital Markets DevelopersAgenciesand Local Developers Risk)(Investor Payments Bond ImprovementsCompletion of Fees or Payment of Entitlementsthe DistrictAdministering Issue BondsproceedingsConduc t the ApplicationsApprove Resolution & Pass SCIP Local AgenciesDevelopers ForeclosureDisclosureContinuing RebateLot SplitsTax RollAdmin. includes:Responsibility ScheduleTasks and SCIP 6