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Moreno Valley to join statewide SCIP and CMFA BOLD programs to help small developers finance infrastructure
Summary
The council approved participation in CSCDA's SCIP and CMFA's BOLD programs, tools city staff described as voluntary mechanisms allowing property owners to finance development impact fees and public improvements via tax-exempt bonds with assessments limited to participating properties.
Moreno Valley — The City Council approved two resolutions on Dec. 2 authorizing the city’s participation in statewide bond programs designed to help smaller developers finance development impact fees and public capital improvements.
City staff explained two voluntary programs: the California Statewide Communities Development Authority’s (CSCDA) SCIP (Statewide Community Infrastructure Program) and the California…
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