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Santa Maria agrees to participate in statewide development financing programs; no city financial obligation
Summary
The council approved participation in two statewide financing programs — CMFA's BOLD program and CSCDA's SCIP — designed to enable developers to finance infrastructure and impact fees through bonded assessments without direct city fiscal exposure.
The City Council on Sept. 16 approved a staff recommendation to make two economic-development financing tools available to property owners and developers: the California Municipal Finance Authority’s BOLD program and the California Statewide Communities Development Authority’s Statewide Community Infrastructure Program (SCIP).
A presenter identified as Shenandoah described both programs and told the council they are…
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