Tax Increment Financing
DRA is acknowledged nationally as one of the leading experts in tax increment financing. For more than 25 years, DRA has provided financial and development advisory services to scores of redevelopment agencies and tax increment financing districts in support of affordable housing, mixed use housing and redevelopment.
DRA’s financial advisory services for redevelopment agencies is comprehensive and authoritative. Services include projection of tax increment, public and private placement of tax increment bonds, structuring of financial assistance to developers, developer selection and negotiation, design, evaluation and assessment of finance, development and asset management programs, and many others.
DRA has conducted statewide professional development institutes for redevelopment practitioners in affordable housing, sustainable community development, developer selection and negotiation, financial feasibility, financial leverage and pro forma analysis, energy efficiency and renewable energy.
DRA has represented scores of redevelopment agencies in the application of tax increment financing. DRA has published widely on the use of tax increment, value capture and community benefit economic analysis. In California, DRA maintains a particular focus on affordable housing and sustainable community development. In this capacity, DRA has advised on the expenditure of several billion dollars of low and moderate income housing fund proceeds for the support and leverage of affordable ownership and rental housing development. DRA’s California services include preparation of AB 1290 Implementation Plans, 33433 property disposition reports, and negotiation of a wide range of documents enforcing California Redevelopment Law requirements.
DRA advises on the transition of redevelopment functions to successor agencies under AB 1X 26. DRA is actively involved in efforts to reform California redevelopment law and practice in the wake of the December 2011 California Supreme Court opinion regarding the future of redevelopment.
DRA Principals are frequent speakers and presenters at redevelopment conferences nationwide. David Rosen presented the keynote address to the 2011 Statewide CRA/Cal-ALHFA housing conference in California.