Dear Council members,
I’m writing to express my support for item 14.b “Adoption of Resolutions Authorizing Use of Bond Opportunities for Land Development Program and Authorizing the City of Santa Maria to Join the Statewide Community Infrastructure Program”.
As the owner of a company that for over 50 years has provided architecture, planning, and engineering services for developers and investors on countless projects, the ability to have access to a wider variety of project financing mechanisms is essential. By enrolling in the Statewide Community Infrastructure Program and authorizing the use of Bond Opportunities for Land Development Program, Santa Maria will have taken a critical and important step in unlocking infrastructure financing opportunities. Building roads, sewer and water lines, drainage systems, utilities, and other critical project infrastructure can be the make or break in whether a project can succeed. For projects located in relatively undeveloped areas like the Santa Maria Airport Business Park the barrier to funding and financing necessary infrastructure is extremely high.
While these programs alone will not be the silver bullet, in combination with other traditional forms of project financing often times will be the deciding factor on project success. Coupled with the fact that the city will have no costs or liability for the establishment of these programs, this action is a win win for the city and our economic development goals.
Sincerely,
Erik Justesen