Central to sustaining economic development is the funding access needed to jumpstart and sustain real estate development, businesses expansion, and infrastructure projects. An overarching strategy is necessary to attract private investment, especially in terms of identifying funding sources, uses, and overall financing tools.
The sources of funds will determine the agencies involved, the types of partnerships and agreements required, and the timeline for implementation. This recommendation will be further highlighted in the forthcoming Implementation Roadmap and will articulate the objectives already established in this plan, as well as guide strategic implementation initiatives in the years to come, even as circumstances and funding sources change unexpectedly. The diversity of funding sources are listed below:
- Federal and state appropriations, grants, and matching funds - such as New Market Tax Credits, Section 108 loan guarantees, and California Infrastructure Bank bond financing;
- County, City and local funds, such as general obligation funds, industrial revenue bonds, lease-revenue bonds, certificates of participation, Mello Roos community facilities district bonds, tax capture districts, and other forms of public and quasi-public debt;
- Private loans & investments