Who Might Qualify:
• Business owners
The Special Assessment Financing Program assists developers
and business owners in financing public infrastructure
projects such as roads, curbs, streetlights, utilities, sidewalks,
landscaping, public parking garages, etc. Special assessment
financing can be used to supplement TIF bonds. Special
assessment bonds allow the borrower to reduce the amount
of equity or conventional financing, and are non-recourse.
The local municipality levies an annual special assessment on
the project in an amount sufficient to finance debt issued to
pay for certain public infrastructure costs related to the
project. This program can provide 100% fixed-rate, tax-exempt
financing for up to 33 years.