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  • ABOUT KUEHL
    • Meet the Team
    • Contact Us
  • ABOUT SIDs
    • District (SID) Participants
    • District Timelines
  • OUR SERVICES
    • Strategic Services
    • Transactional Services
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72nd & Dodge

72nd-&-Dodge

Who’s Involved and How are They Involved?

A five-member Board of Trustees governs the district (“SID”) . The board is responsible for the planning, construction and maintenance of public improvements, as well as the financial well-being of the SID. Depending on the phase of development the SID, the key participants have different levels of involvement.

Participants in the Evolution of an SID

Developer

  • Create the vision for a new development
  • Direct engineer on district design and plat
  • Work with engineer to finalize costs and expenses
  • Instruct attorney to purchase the land

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Board of Trustees

  • Make decisions with help of team of advisors on installation of improvements
  • Award contracts
  • Issue Warrants
  • Levy special assessments
  • Issue bonds to retire warrants
  • Monitor financial status

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CPA

  • Prepare annual budget
  • Prepare year-end audit

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Municipal Advisor

  • Work with engineer, attorney, and developer to determine feasibility of project
  • Provide strategic advice
  • Determines debt capacity
  • Assist in negotiating terms of subdivision agreements and inter-local agreements
  • Seek out and negotiate terms of underwriting agreement
  • Provide annual budget cash flow analysis
  • Assist with IRS and SEC compliance

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Engineer

  • Design preliminary layout and plat
  • Estimate preliminary costs
  • Compile final cost estimates
  • Prepare bid documents
  • Receive competitive bids
  • Recommend qualified contractor to board
  • Monitor work of contractors
  • Approve work as completed
  • Recommend payment to contractors
  • Compute special assessments
  • Monitor condition of public improvements

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During PHASE I of an SID the developer owns most of the parcels. For this reason, the developer usually controls the board of trustees.

Phase I: District Pre-formation & Pre-buildout

Attorney

  • Advise developer on land purchase contract
  • Lead preliminary plat process with City Planning Department
  • Work with county and city planning departments toward final plat and subdivision agreement
  • Form SID through district court
  • Provide other legal services as necessary

Engineer

  • Design preliminary layout and plat
  • Estimate preliminary costs
  • Compile final cost estimates
  • Prepare bid documents
  • Receive competitive bids
  • Recommend qualified contractor to board
  • Monitor work of contractors
  • Approve work as completed
  • Recommend payment to contractors
  • Complete special assessments

Municipal Advisor

  • Serves in a fiduciary capacity to the district
  • Works with engineer, attorney, and developer to determine feasibility of project
  • Provides strategic advice
  • Determines debt capacity
  • Assists in negotiating terms of subdivision agreements and inter-local agreements
  • Assists in the identification of District funding options
  • Negotiates terms of underwriting/debt purchase agreement
  • Provides annual budget cash flow analysis
  • Assists District with monitoring and review of Warrant Issuance
  • Assists District with Initial and Ongoing Disclosure requirements
  • Assists District with development and preparation of Warrant and Bond Offering Circulars and Official Statements
  • Provides cash flow analysis around proposed levy of special assessments

Underwriter

  • Acts at arms length/non-fiduciary capacity
  • Enter into agreement with district to purchase warrants
  • Purchase district's warrants
  • Provides limited advice around timing, terms, and structure of debt

Board of Trustee’s (5 Member Board)

  • Controlled initially by Developer
  • Advertise bids for improvements
  • Award contracts
  • Approve contractor payments as recommended by Engineer
  • Issue Warrants
  • Levy Special Assessments
  • Monitor public improvements and financial status

The SID enters into PHASE II as the commercial and residential developments near completion and most of the parcels are built, sold and occupied. At this time the board membership shifts to a community resident Board. The purpose of the board is to listen and respond to the concerns and suggestions of the tenants and residents.

Phase II: District Buildout and Operation

Attorney

  • Advise district regarding state law and ongoing decisions
  • Facilitate periodic meetings as deemed necessary
  • Assist with annual budget

Engineer

  • Act in the capacity of the district's public works department
  • Monitor the condition of public improvements and recommends required maintenance

Municipal Advisor

  • Assist district with ongoing warrant issuance
  • Assist district with bond structuring analysis and issuance
  • Assist district with annual budget analysis
  • Assist district with the preparation and submission of continuing disclosure related items
  • Manage district fund balances
  • Maintain a district database to track all warrant and debt related obligations of the district
  • Coordinate annual interest payments on warrants issued
  • Coordinate redemption of construction fund and general fund warrants
  • Participate in meetings and review district meeting minutes
  • Track district development and buildout by performing periodic site visits
  • Track district outstanding debt in order to identify present and future refunding opportunities
  • Provide quarterly district financial reports (at a minimum) to district board of trustees
  • Assist with IRS and SEC compliance
  • Provide impact analysis to the district associated with public improvement costs

Underwriter

  • Purchase and resell warrants to the public
  • Purchase and resell bonds to the public

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  • 1414 N. 205th St. Suite 1
  • Omaha, NE 68022
  • (402) 391-7977

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