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

2. 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

3. 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

4. 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

5. 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

6. 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

7. 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

8. Questions/Comments