Statewide Community Infrastructure Program (SCIP) October 25, 2016 Jennifer Macarthy Butte County Deputy Administrative Officer - Economic & Community Development

Economic Development Strategy Butte County Regional Economic Development Strategy: Identify funding sources to support infrastructure development for the growth and development of local businesses. Economic Development Strategy

SCIP Statewide Community Infrastructure Program (SCIP) Administered by the California Statewide Community Development Authority (CSCDA) Turnkey means to offer a competitive financing mechanism with minimal staff costs. Pooled bond financing program Allowing both large and smaller-scale projects to participate SCIP

Eligibility Eligibility Eligible Costs to Finance: Eligible Projects: Development Impact Fees Public Infrastructure Eligible Projects: Commercial, industrial, retail, multi family and single family residential. Eligible Property Owners: Hold title or have contractual right to acquire fee simple title Non-governmental or quasi-governmental entity No bankruptcy proceedings Additional underwriting criteria. Eligibility

Process Developer applies through CSCDA for SCIP financing for eligible costs. Eligible fees and improvements financed through tax-exempt bonds issued by CSCDA. CSCDA imposes a special assessment on owners property to repay the portion of the bonds used to finance the project. Assessments are billed on county property tax roll. All bond issuance and administration tasks handled by CSCDA. Process

Benefits Benefits to property owner: Property owners can choose to participate. Low-cost, long-term tax exempt financing fees up capital for other project purposes. Property owner can choose to pay off assessment at any time. Owners of smaller projects have access to tax-exempt financing. Benefits

Benefits Benefits to County: Opportunity to offer tool for business development. County not liable to repay the bonds issued by CSCDA or the assessments imposed on the properties. CSCDA handles administration, bond issuance, and bond administration functions – very little County staff time necessary. Benefits

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