The law allows a local government to finance public improvements and then recapture the cost of those improvements (including the interest on borrowed money) through assessments levied on benefitted property owners. This can be a great tool to help out a community that needs an improvement that will have broad public benefit, or in the right circumstance help a developer build a better development – or at least move more quickly. We have worked as bond counsel on two of the three special assessment revenue bond financings that we are aware of in North Carolina – for the Town of Hillsborough and for Richmond County. Special assessments can also be combined with other financing structures. Click here and let us know if you’d like to talk about a special assessment financing project in your community.
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