Paying for Economic Development: How Your City Can Benefit from Creative Financing Techniques

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This is a guest post by Lynn Cherry.

(Image courtesy Khalid Rasulli, NSP Country Manager, Sanayee Development Organization)

As the economy continues to improve after the Great Recession, cities across the nation are doing their best to bring their communities back to where they used to be. The continuous devolution of the federal government, ever-increasing demand from the growing populace, and declining infrastructure are all factors placing fiscal and political pressures on localities in their attempt to deliver quality public services.

With that in mind, as more demands are being placed on local governments and as federal funds are declining in combination with stagnating budgets, municipal governments are looking towards innovative and creative financing techniques to meet the needs of their communities.

Many local governing bodies are increasingly turning towards the private sector for help. These partnerships are helping municipalities fill that troublesome “funding gap.” Public-Private Partnerships (PPPs) allow the public and private sectors to identify a shared value, minimizing costs, share risks, and increase overall benefits. If contracted and implemented correctly, PPPs can be an effective, efficient and valuable means of delivering services to the public. However, facilitating these partnerships can often times be tricky, complicated, and expensive if not pursued correctly.

How could this apply to your city? This November, NLC University has teamed up with several leading PPP experts to provide an informative and engaging session on exactly how you can benefit from using this innovative financing. Some of these experts include Mike Higbee of DC Development Concepts, the Honorable Tom Murphy, former Mayor of Pittsburgh and senior resident fellow at the Urban Land Institute, and Bert Mathews of the Nashville-based Mathews Company.

Not only will attendees receive great insights from leading PPP specialists, two attendees will have the opportunity to present a local case study of a real estate project for which they’d like to find financing. After their presentations, two participants will receive on-the-spot advice from the panel of experts about how their projects could be launched. Registering for the session will automatically enter you into the drawing. On Monday, October 26, two lucky names will be drawn, so make sure you are registered by Sunday, October 25 for this great session and special opportunity.

Click here for more information on this session.

About the Author: Lynn Cherry is the Coordinator of Outreach & Public Policy for the National League of Cities University.