IMPACT Direct · For Developers
Finance your impact fees. Keep your cash in the project.
IMPACT Direct turns $500,000 to $5 million in impact fees into long-term, fixed-rate, tax-exempt financing, secured by the land and paid over time on the property tax bill.
For Developers
What you get
Cash preserved.
Your fees are paid at closing, not out of your equity or construction loan.
Non-recourse.
The financing is secured by the land, not your balance sheet or a personal guarantee.
Off your books at sale.
The obligation passes to each homebuyer automatically when a lot sells.
Long-term, fixed rate.
Tax-exempt bonds with terms up to 30 years.
No out-of-pocket program costs at closing.
Program costs are paid from the bond proceeds.
The Process
How it works
- 01
Tell us about the project: location, agency, lots, fee schedule, and entitlement status.
- 02
We confirm fit and structure: assessment district or community facilities district.
- 03
The local agency adopts a consent resolution. We prepare it and work with agency staff.
- 04
CalMuni PFA forms the district. As the landowner, you approve it.
- 05
The bonds are placed privately, and your fees are paid to the agency at closing.
Eligibility
What it takes
- A California project with $500,000 to $5 million in eligible impact fees.
- Entitlements in place or well underway.
- A business-purpose developer. Owner-occupied lot splits and other homeowner projects are not eligible.
- An independent appraisal showing strong land value relative to the financing.
- Developer financial information and project documents, which we will list for you.
Before you pay your fees
Talk to us first. The cleanest path is financing fees as they come due. Fees you have already paid can be reimbursed only in limited circumstances.
Questions
Questions developers ask
No. On a single-owner project, you are the only property owner who votes.
Impact fees for public facilities, such as traffic, water, sewer, drainage, parks, and public safety. School fees are eligible when the financing uses a community facilities district. Tell us your fee schedule and we will confirm.
IMPACT Direct finances fees. Larger projects that also need public infrastructure should ask about IMPACT.
An annual line item on the property tax bill, disclosed before purchase.
Read the full guide →A longer, print-ready guide to IMPACT Direct.
IMPACT Direct financings are subject to CalMuni PFA board approval and due diligence. This page is not an offer to sell or a solicitation of an offer to buy any security.