The City of La Verne retained Kosmont Companies to complete an EIFD feasibility study for a multi-agency proposed District that would finance public infrastructure and encourage private investment for a variety for commercial and mixed-use projects. The proposed project area is in a transit-oriented development area (TOD) of the La Verne Old Town Specific Plan and surrounds a proposed Metro Gold Line Extension light rail station.
Kosmont provided an initial feasibility analysis on potential District boundaries and participants, the infrastructure needed to support this project, the potential development opportunities the project may attract, and a fiscal analysis of the potential tax revenues the proposed EIFD may generate.
The EIFD is now approved and is in the implementation phase. Kosmont continues to work on the EIFD including the tax roll base transition and project financing (Phase 2).