Urban Futures Inc. (UFI) has completed an Infrastructure Financing District (IFD) Feasibility Study for the City of Menifee, allowing the City to make informed decisions when determining its next move in this post-redevelopment era.
With the passage of SB 628, the State legislature has indicated a willingness to empower local governments to invest in their communities through finance districts. Before a city makes the determination to form an IFD, it is important that the city conduct appropriate diligence to determine the long-term viability of the venture. This is best done through an outside consultant.
Based on UFI’s completion of the IFD study on behalf of the City of Menifee, the City is poised to make an informed decision on the future of former Redevelopment parcels under the new guidance of SB 628 and has a clear roadmap to navigate the district formation process.
UFI was recently engaged to provide Financial Advisory and Real Estate Economic services to the City of Lake Elsinore for a 400-acre project within the East Lake Specific Plan. As a part of these services, UFI will develop a financial plan for needed infrastructure at the project site. Lake Elsinore City Manager Grant Yates commented on the services provided to his City by UFI, “The City is very excited about the opportunities within the East Lake Specific Plan. To accomplish our goals, the City of Lake Elsinore has engaged the best and the brightest professional firms to advise on a plan that would accomplish the economic development goals of the City and provide a vision for this area. UFI was a natural choice for this process with their wealth of knowledge and experience.”
“When cities look at starting an IFD or embark on other major development opportunities, it is important to have a professional consultant advise along the way. Our services provide a third party validation to the community and Council that city staff is doing the right thing; we can also provide expertise not often contained within the walls of City Hall,” said Michael Busch, CEO of Urban Futures, Inc. For more information on these services, contact Mr. Busch at (714) 283-9334.
Urban Futures, Inc. has been providing services to local governmental agencies for over 42 years. Recently restructured into three divisions – UFI Public Management Group, UFI Public Finance Group and Isom Advisors – UFI offers clients a growing portfolio of services and industry expertise that might otherwise be out of reach. Over 300 public agencies have benefited from partnering with UFI. UFI is based in Orange, CA with offices in Walnut Creek and Bakersfield. Visit their website at www.urbanfuturesinc.com or call us at (714) 283-9334.