Local Improvement Districts
 The Chapters in the Revised Code of Washington, which authorize the formation of Local Improvement Districts by cities and counties, are the most frequently utilized regulation for assessment proceedings in Washington. The improvements authorized for construction include virtually any public infrastructure improvement.
On the basis of the improvement benefit received by each parcel, the improvement costs are levied against each of the individual properties within the benefit area. The property owner may pay the assessment amount in cash, or allow a lien to be placed on the property in the amount of the benefit assessment. Then the property owner may make payments over a specified period, typically varying between 10 and 25 years to retire the debt issued to pay for the improvements. Through the issuance of tax-exempt bonds payable over a period of years, the property owners are provided the advantages of a lien at a favorable interest rate for the improvements.
MuniFinancial can assist the Public Agency's engineer or, along with engineering assistance from our sister company Willdan, act as the assessment engineer in the Assessment District proceedings.
Business Improvement Districts
MuniFinancial is experienced in the formation of Business Improvement Districts (BIDs) and in the maintenance of an up-to-date database of pertinent information related to each property and property owner in the district.
In the BID formation process, MuniFinancial will develop a database of properties within the proposed district. As necessary from various sources, pertinent information will be gathered and updated. Maintained data includes owner name and address, land use, acreage, assessors parcel number and assessment criteria.
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