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Financing and Construction of Regional Improvements
May 2nd, 2006
As development activity pushes outward to the rural communities of Arizona, the construction of regional public improvements often becomes a requirement prior to the issuance of building permits. This massive undertaking is costly, risky and difficult to coordinate. As such, developers and landowners who are leading the charge to build such facilities need to be assured that they have established mechanisms to:
- Allocate costs to all development participants and other benefiting landowners;
- Establish cost sharing and joint development agreements;
- Document the agreements between jurisdictions and landowners;
- Account for cash collection and disbursements from developers and landowners related to construction activities;
- Establish public financing vehicles;
- Create reimbursements districts.
The professionals at DPFG have over twenty years experience assisting clients with these types of challenges. At present, we are currently working on the administration, financing and construction of eight (8) regional public improvement facilities in Arizona. Our most recent experience includes the coordination of over thirty landowners in a $50 million regional wastewater treatment plant.
Our comprehensive approach to project finance and construction includes:
- Establishing multi-party cost sharing methodologies and agreements;
- Establishing joint development agreements;
- Coordinating accounting activities for multi-party projects related to cash calls and construction disbursements;
- Assisting in public bidding activities;
- Creating and administering reimbursement districts to reimburse landowners for construction costs;
- Planning and implementing community facilities district financings.
To learn more about how DPFG may assist in such endeavors please contact Carter Froelich or Greg Aloia at (602) 381-3226, extensions 10 and 17 respectively.
