Moreno Valley to join statewide SCIP and CMFA BOLD programs to help small developers finance infrastructure

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 Municipal Finance Authority’s (CMFA) BOLD (Bond Opportunities for Land Development) program. Staff said both programs issue tax-exempt bonds to finance infrastructure or impact-fee obligations at the election of a property owner; bond repayments are secured by special assessments or similar mechanisms imposed only on participating properties, and the city is not liable for repayment.

Staff indicated the programs are intended primarily for smaller developments that have difficulty securing traditional financing for public improvements and described administrative and liability protections: bond issuance, administration and district formation are handled by the joint powers authorities and staff time is reimbursed by participating developers. Several members of the public asked whether large or previously approved projects could access the programs; staff said larger projects typically do not need these tools but may seek them, and any project would need to go through CMFA/CSCDA processes.

The council approved participation by voice vote (Councilmembers Bernard, Gonzales and Mayor Pro Tem Santa Cruz voting yes). Staff said participation gives the city an additional financing tool but does not reduce fees or shift costs to the general taxpayer.