Special District Financing
Flexible and Localized Funding Solutions for Infrastructure and Economic Development
Governments at all levels are facing financial pressures. This has prompted local communities to explore innovative and alternative tools to fund critical infrastructure and/or other economic development projects. Special districts can often be an ideal solution for stakeholders looking for a customizable tool to fund, operate, and/or manage critical projects in their community.
5 Steps from Discovery to Implementation
Identify clear and definable community goals and policy objectives. A well-defined objective, such as funding infrastructure, promoting economic development, enhancing public amenities, or delivering ongoing services, provides the foundation for selecting the most effective district type and funding strategy.
Align the appropriate type of special district with the desired policy objectives. Each district carries distinct powers, revenue tools, governance structures, and limitations. Resulting frameworks may comprise single or multi-district structures depending on the targeted objective(s).
Assess public positioning: reasonable and defendable. Stakeholder engagement, education, and support will strengthen the initial and sustained success of a special district.
Develop a financial forecast. Providing an accurate financial forecast is vital to ensuring the district can realistically support its intended programs, services, and/or any future debt obligations.
Optimize a governance and operating model. This is important for setting expectations around financial management, reporting, and service delivery. Beyond governance and operations, foundational planning and support will likely include election or petition planning, initial budget development and management, and implementation.
While promising, special district financing is highly nuanced and subject to the current environment, statutes, laws, and governing bodies. Interested in discovering if special district financing will work for you? Let’s chat.
Downtown Denver