Private / Public Participation Project Financing

Many local governments desire to shape their community by working with job-producing companies and developers. Additionally, local governments are often approached with public/private partnerships and want to ensure they are making fiscally-sound decisions. The professionals at LYRB have represented numerous local governments in evaluating fiscally responsible ways to evaluate and, if appropriate, assist the development of private/public partnerships.   

LYRB believes the first step in the evaluation process is to ensure the development is congruent with community values, provides job growth or economic stimulus, and is fiscally sound. 

LYRB has assisted many local governments in working through the evaluation process and the implementation phase. A few of the tools LYRB has helped local governments deploy include (1) redevelopment agency/tax increment mechanisms, (2) tax increment bond financing, (3) special assessment area/special improvement district creation, and  (4) funding, fee waivers, and coordination with EDCUtah and the Governor’s Office of Economic Development (GOED) incentive packages.   
 
Project Overview: Procter & Gamble Facility
An example is the assistance LYRB provided to Box Elder County and Brigham City in securing the Procter & Gamble paper products manufacturing facility. 

LYRB was able to assist with this project by supporting the creation of an economic development project area, working with the GOED to provide a development incentive package, obtaining funding for water and sewer revenue and tax increment bonds, and coordinating appropriate water and sewer rates to ensure future maintenance of water and sewer infrastructure.