News & Events

C&H Instrumental in Passage of Senate Bill 6241, Authorizing Formation of Community Facilities Districts
[04/01/2010]


John Hempelmann (second from left) and Jeremie Lipton (fourth from left) look on as Governor Gregoire signs Bill 6241

During the 2010 Washington State Legislative Session, Cairncross & Hempelmann played a major role in creating new public infrastructure finance tools. Working with a coalition of clients, legislators and stakeholders, John Hempelmann and Jeremie Lipton from Cairncross & Hempelmann drafted, revised and testified in support of Senate Bill 6241 authorizing the formation of Community Facilities Districts. The Governor signed the bill on March 10. As Jeremie Lipton explained: “Community Facilities Districts are like 'super local improvement districts' in that they can finance many types of infrastructure projects such as roads, utilities, libraries, community centers, etc. However, unlike an LID, a Community Facilities District is 100% voluntary and can finance both on-site and off-site improvements.” John Hempelmann stressed: “This is a very important tool for economic development because projects that have been delayed by lack of state and local government funding and by the inability of companies to borrow money during the recession and banking crises will now have the option to proceed using long-term, lower interest rate bonds issued by a Community Facilities District.” Bonds will be repaid by special assessments on the properties benefitted by the new infrastructure. Cairncross & Hempelmann is now working with groups that want to make use of this new financing tool.

<< Back to Industry News