Value Capture Strategies: Special Assessment Districts – The Primer
Wednesday, August 25, 2021 5:00:00 PM UTC - 8:00:00 PM UTC
As the Federal funding for surface transportation has declined or is diminished, our infrastructure assets have reached the end of their useful lives. Adding to complexity is the state and local pressure to fund emerging needs such as “Smart City” initiatives to leverage new technologies and the complete street initiative to ensure safety to all mobility modes (walk, bike, scooter, street car, automobile, etc.). The need for transportation improvements has far outpaced the available funding sources. Think about the Value Capture Special Assessment Technique!! Special Assessments can serve as gap funding for public road improvement projects. The technique can also be used to leverage federal and state grants, attract private capital, provide access to federal low interest rate loans, and can seed funding to get the project off the ground. One of the powerful Value Capture techniques is a special assessment district and every state offers at least one type of Special Assessment funding & financing to its communities. It is a proven, effective technique for funding improvements that directly benefits property owners and enhances property values in the special assessment district. Local jurisdictions may create special assessment districts around transportation infrastructure to share the cost from beneficiaries. They can be new fees or assessment on property owners within those areas to share transportation infrastructure investment. The assessment can be based on property value, or sales, special business fees, or other measures of value, and can last for a fixed duration of time. SADs generate revenue from both existing and future developments. FHWA has recently developed a Value Capture strategies: Special Assessment District (SAD) Primer – The Primer designed to provide information to state and local transportation agencies that have used or are considering the use of SAD. The primer provides practical information on what SAD is, how it works, where it used and case studies. Do you need funding for your state, city, county, township, and tribe? Do you know which revenue tools are available to fund improved services and capital expenditures in your community? Do you need infrastructure to accommodate your communities’ anticipated growth? Do you need assistance in implementing Value Capture Special Assessment.? Come to the Value Capture Virtual Peer Exchanges on August 25,2021 at 1:00PM-3:00PM ET to learn from peer experts on opportunities and challenges of implementing Value Capture Special Assessment techniques. There is no cost to participate but space is limited. You must register to reserve your connection/space.
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