Novel Approach – Leveraging Prop-2 Facilities Modernization with Tax Credits and Energy-Efficiency Savings Programs

Room: Bruno South
Time: 3:00pm – 4:00pm
CEUs: AIA: 1 LU

On Nov. 5th, 2024, California voters approved Prop-2, a $10B statewide bond issue that includes $4B for Public Schools Modernization. The Prop-2 funding is available to school districts through a 55-65% state matching program, allowing them to maximize local funding sources such as general obligation bonds, grants, tax credits and other available subsidies.

This session will reveal a novel approach as to how school districts can strategically position themselves to secure Prop 2 funding and leverage it with other financial resources.

Attendees will gain insights into capital stack strategies, including IRA tax credits, municipal financing mechanisms, utility rebates, and on-bill financing. Led by experienced tax and bond counsel, the discussion will focus on proactive planning to optimize funding opportunities over a multi-year timeframe.

Accessing and leveraging Prop 2 funding requires careful planning, but for districts that take the right steps, the financial and operational benefits can be substantial. This session will provide school leaders with a strategic roadmap to navigate funding opportunities effectively, ensuring they maximize available resources for long-term success.

Learning Objectives:

• Understand the fundamentals of Prop-2 and the key leveraging tools available to unlock and maximize state and federal funding resources.
• Review the relevance and importance of your district’s Facilities Master Plan.
• Learn about creative ways to fund and finance renewable and energy-efficiency programs as a way to leverage school modernization outcomes.
• Discover how utility rebates and on-bill financing can reduce operating costs while leveraging Prop 2 funds.
• Gain expert insights from a tax attorney and bond counsel on capital stack leveraging strategies and the effective use of tax credits.

Speakers:
James Richmond, President, First Note Finance inc
Cameron Weist, Partner, Weist Law

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Cameron Weist, Partner, Weist Law

Recognized nationally for his top-tier advice and collaborative approach, Mr. Weist is esteemed among peers for his authority in municipal, securities, and tax law, particularly in complex public offerings. His multidisciplinary education in law, economics, urban and regional planning, public policy, demography, accounting, and finance enriches his practice. This breadth enables him to excel in various areas, including pooled financings, tax credit procurements, revenue bond financings, ballot measure campaigns, and public improvement projects.

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James Richmond, President, First Note Finance inc