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How a Local Government Loan Can Make a Revitalization Project Possible

September 4, 2015

An historic manufacturing building in the town of Sunrise, North Carolina, is in disrepair. There are holes in the roof, standing water in the basement. Residents treasure the 3,500 square foot building and public officials want to see it redeveloped and contribute to the revitalization of their his … Continued

Primer on Brownfields Redevelopment

January 15, 2015

The redevelopment of brownfield sites can be difficult. These sites, which are contaminated to some degree with harmful substances usually due to prior industrial use on the site, pose challenges to redevelopment beyond those of a typical project. However, the reuse of these sites can be a boon to e … Continued

Town of Hillsborough: Special Assessments (Part I)

February 6, 2014

In the fall of 2013, a blog post on special assessments for financing infrastructure included a short description of the Town of Hillsborough’s use of this finance strategy. Hillsborough was the first local government in North Carolina to borrow money and pledge special assessments as security for a … Continued

What is a Synthetic Project Development Financing (aka Synthetic TIF)?

April 30, 2013

Merriam-Webster’s online dictionary defines “synthetic,” among other things, as “devised, arranged, or fabricated for special situations to imitate or replace usual realities.” As the definition suggests, a “synthetic project development financing” (more commonly referred to as a “synthetic tax incr … Continued

Local Government Debt Financing Primer: Enhanced Security for Project Development Financings

November 29, 2011

Kara Millonzi is a School of Government faculty member. Blight City is looking to revitalize a portion of its downtown. Over the past ten years the area has fallen into disarray and contains many abandoned, dilapidated buildings. Working with a couple of local developers, the city has developed plan … Continued