City of Sunland Park

Phase II work on establishment of Camino Real de Tierra Adentro Port of Entry

CEDs has been retained to continue the work associated with financing the new Port of Entry (POE) for the City of Sunland Park, New Mexico.  Efforts in the near term will include creation of a Tax Increment Development District(TIDD), negotiations of inter-local agreements with Doña Ana County and the State of New Mexico for participation in the TIDD. 

CEDS will also assist with the adoption of additional Gross Receipts Tax revenue streams, and the contemplated tax exempt bond financing associated with the same for use in financing a portion of the overall costs of the new POE.

City of Penitas TIRZ #1

financing for Diamond Blvd /Liberty Blvd

CEDS has been hired by the Penitas Redevelopment Authority to manage the Tax Increment Reinvestment Zone #1, City of Penitas, and also work on approval of a private placement financing with the North American Development Bank and the Penitas Redevelopment Authority to finance the project. Overall cost of the project is just under $3MM, and will enable of the development of multiple commercial projects along the new corridors. Financing is projected to close in the second quarter 2020. We are also working with the City and the Redevelopment Authority on arranging financing for the extension of Liberty Blvd and expansion of utility services to the North; and with the City of Penitas on arranging refinancing the City’s four existing USDA loans

Espiritu Santo TIRZ #2 - City of Brownsville

Partners: City of Brownsville, Cameron County,  Madeira Properties, Ltd. 

Project: Create a new tax increment reinvestment zone in City of Brownsville / Cameron County over 1400 acres of land located at the intersection of Texas Hwy 100 and US Hwy 77.

Approach: The effort will propose the creation of a Local Government Corporation (LGC) to serve as the financing vehicle for the project. Additionally, it will require the negotiation of an agreement between the City and the County for their respective participation in the TIRZ. 

Goals: Finance the development of a mixed use project that includes new commercial uses, medical facilities, public use facilities including safety and green spaces, financing public amenities, facilitating the development of educational facilities, and financing drainage and detention needed to enable the project to develop.

Parkway Development Financing: Fort Bend County, TX

Partners: Fort Bend County Commissioner, Fort Bend County Municipal Utility District #50, Robert Ferguson, master developer of Parkway Lakes Development project

Project: Serve as Executive Director of the North Fort Bend Redevelopment Authority to facilitate and enable the development of approximately 160 acres of land into a mixed use commercial and residential development

Approach: The developer, Parkway Lakes Master, Ltd. will finance component parts of the masterplanned development, and/or negotiate the development by others, and receive reimbursements from the Redevelopment Authority as future revenues from the MUD and the County are generated.  The Authority, at the appropriate time, and when revenue streams are adequate, will sell tax exempt bonds to accelerate the reimbursements. 

Goal: The completion of a Class A development in Fort Bend County.