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March 09, 2018
Category: Grants and Financing
SCIP is a financing program that enables developers to pay most impact fees and finance public improvements through an acquisition agreement that qualifies under the 1913/1915 Act (excluding school fees) via tax-exempt bond issuance proceeds. As the City of Tracy requires developers to pay impact fees prior to obtaining a permit, SCIP can be used to directly prepay these fees or alternatively, to reimburse the developer after fee payment. The program can be used to enable developers to pay for, or be reimbursed for, all eligible impact fees or for a single impact fee.
- Well suited for commercial, industrial and residential projects;
- Simple application process;
- Long term fixed rate financing at competitive tax-exempt rates.
For more information on the Statewide Community Infrastructure Program please visit the SCIP Webpage or call California Communities at (925) 933-9229.