McClellan AFB Reuse Public Facilities Financing Plan
Sacramento, CA
When McClellan Air Force Base in Sacramento County was closed by the Defense Base Realignment and Closure Commission in July 2001, the County entered into a joint venture agreement with McClellan Park LLC that envisioned reuse of 10 million square feet of facilities and 7 million square feet of new development. EPS prepared a financing strategy that matched the timing of needed infrastructure improvements with available revenues. The $169.4-million financing implementation plan uses infrastructure charges, tax increment revenue financing, grants and other funding, and potential funding from the County's developer/equity partner and the County. EPS served as special tax consultant for a Mello-Roos CFD that was formed as part of that strategy. EPS also prepared the loan package that was needed for a California Infrastructure and Economic Development Bank loan. McClellan Park is well on its way to success—the park is 25 percent built out and several thousand employees work there.
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