Development Finance Initiative

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Michael Lemanski

Michael Lemanski was formerly the Director of the Development Finance Initiative (DFI).

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Michael Lemanski is the Director of the Development Finance Initiative at the School of Government.

In August, the School of Government announced the creation of the Development Finance Initiative (DFI). DFI partners with local governments in North Carolina to attract private investment for transformative projects by providing specialized finance and development expertise. DFI partners with communities on projects including:

  • Building reuse
  • Community development
  • Downtown revitalization
  • Economic development
  • Neighborhood redevelopment
  • Small business finance

The following are additional details on ways in which DFI can support a community’s development priorities.

What services are available from DFI?

DFI services support implementation of local community and economic development priorities that require private investment. DFI can be thought of as an extension of a local government’s finance, planning, economic and community development departments. DFI services include:

  • Real estate finance and structuring, including identification of investors, lenders, tax credit equity sources and other partners
  • Advising on public-private partnerships and development incentives
  • Assessment of distressed properties
  • Creation of Requests for Proposals (RFPs) to attract private development into underserved areas
  • Development of small business finance programs
  • Assistance with pre-development including program design, market assessment and valuation, cost assumptions, and pro forma creation
  • Evaluation of development proposals, agreements and contracts
  • Assessment/review of development team experience and capacity

What development finance tools can DFI help our community to implement?

The DFI team’s experience touches on a broad range of development finance tools that are designed to attract private investment into local community and economic development projects including:

  • targeted financing/incentive programs (Tax Increment Financing (TIF), Business Improvement Districts (BIDs))
  • tax credit financing (historic preservation, new markets, brown fields, low-income housing)
  • loan funds (revolving loan funds, microenterprise loans, and innovative debt and equity hybrid products)
  • secondary market and securitization programs (loan loss reserve funds)
  • equity (individual investors, foundations, community development venture capital)
  • federal grant programs (CDBG, HUD, EDA)

How to get DFI engaged in our community?

DFI is a fee-based service of the School of Government. Costs for smaller towns and economically-distressed communities may be subsidized by third party partners. Assistance is available on an ongoing or project by project basis depending on the needs of the community. For more information, contact Christy Raulli at 919.843.7736 or raulli@sog.unc.edu. Initial contact may be followed by a site visit and a letter of agreement for DFI services.

üBuilding reuse

üCommunity development

üDowntown revitalization

üEconomic development

üNeighborhood redevelopment

üSmall business finance

Michael Lemanski (7 Posts)

Michael Lemanski was formerly the Director of the Development Finance Initiative (DFI).


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One Response to Development Finance Initiative

  1. A blog on NC Construction News describes DFI’s partnership with the Construction Professionals Network Institute (CPNI) to realize the potential of small town built assets–and particularly vacant industrial buildings that are holding back the success of downtown areas. The blog post can be found here: http://bit.ly/MnjgNN.

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