Public infrastructure district policy
A proposed policy governing creation of stand-alone districts that issue bonds for public infrastructure. Several council members opposed districts for residential development, and the policy was tabled on September 20, 2022.
- Where it stands
- Tabled
- Type
- Code change
Every hearing and vote
September 20, 2022 · City Council
Public infrastructure district policy
Tabled · 5-0
Piper Sandler's Benji Becker described public infrastructure districts as stand-alone financing districts that issue bonds for public infrastructure, repaid from revenue within district boundaries. Concerns in the work session included resident notification, bond default risk, reimbursement fairness, higher rates for rental properties and effects on affordability and resale. Council Members Colby Curtis, Brett Wright and Carolyn Love opposed districts for residential development; City Attorney Jeremy Cook said the council can deny a district for any reason, and City Administrator Paul Jerome suggested any future policy include an economic development component. Love moved to table the policy entirely.