By Connie Wilhelm, president of the Home Builders Association of Central Arizona | Arizona Capitol Times
(Editor’s note: Opinion pieces are published for discussions purposes only.)
One of Arizona’s greatest economic assets is the availability of land. But access to that land is limited by our lack of infrastructure. Developers have long sought additional tools to provide infrastructure to make that land even more valuable.
One such tool is the Community Facilities District (“CFD”), which allows for a city or town to create a special taxing district to fund new infrastructure which benefits those homeowners paying the tax. As CFDs exist today, the city or town council typically serves as the CFD board to ensure that there are checks on the creation and tax rates of the district.
