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District Timelines
Home ABOUT SIDs District Timelines

144th & Dodge

144th-&-Dodge

What is the Typical Lifecycle of an SID?

The district lifecycle below shows the different steps of the SID process and what can be expected.

Pre-Formation of District:

Month 1– Month 19
  1. Developer identifies land for development
  2. Developer engages engineer to determine preliminary costs to develop
  3. Developer engages SID real estate attorney to assist in finalizing purchase of land and to begin entitlement process
  4. Developer engages municipal advisor (Kuehl Capital) to take initial look at financial feasibility and come up with initial thoughts on a financing structure
  5. Development team meets with authorities to refine required infrastructure improvements and costs
  6. Development team negotiates subdivision agreement and, if necessary, inter-local agreements
  7. Kuehl Capital refines feasibility analysis and drafts write-up to secure purchase agreement from an underwriter or for direct placement
  8. Project is approved through city departments / planning board / city council / county board
  9. SID attorney forms the district through district court

Installation of Improvements & Warrant Issuance:

Month 20 – Month 72
  1. Engineer defines specs and quantities
  2. Engineer drafts bid requests
  3. District formally publishes bid requests
  4. Engineer review bids and compiles tab sheet
  5. Engineer recommends lowest qualified bidder
  6. District awards contracts
  7. District adopts Resolution of Necessity for each improvement project
  8. Kuehl Capital and disclosure counsel draft disclosure documents
  9. District reviews and adopts disclosure
  10. Contractors begin installation of infrastructure improvements
  11. District issues warrants to contractors for work performed in progress payments
  12. Kuehl Capital reviews minutes and registers warrants with county
  13. Bond counsel reviews meeting minutes and issues tax-exempt legal opinion
  14. Kuehl Capital coordinates payment to contractors
  15. Purchaser writes checks to contractors in exchange for warrants
  16. Kuehl Capital coordinates transfer of warrants from contractor to purchaser
  17. Engineer certifies that installation of improvements is complete
  18. Engineer compiles “Final Statement of Costs”
  19. Engineer calculatess breakdown of special assessments and general obligation costs for proposed levy of special assessments
  20. Kuehl Capital reviews final statement of costs and proposed levy of special assessments, and recommends adjustments if necessary
  21. District levies special assessments

Buildout & Bond Issuance:

Month 60 – Month 72
  1. Kuehl Capital tracks buildout, the collection of reimbursables and the collection of special assessments to identify bond and cash call opportunities
  2. Kuehl Capital recommends warrant calls with cash and the issuance of bonds to redeem warrants as taxable valuation is established
  3. Kuehl Capital periodically runs analysis to determine tax levy for the following year and confirms ongoing feasibility
  4. Kuehl Capital assists the district and works with Disclosure Counsel to periodically update warrant offering disclosure
  5. District annually issues warrants to pay interest on outstanding construction fund warrants
  6. District issues general fund warrants to fund operating costs and maintenance on improvements, eventually getting on a cash basis
  7. At fiscal year-end, accounting firm performs audit for financial statements

Post Issuance & Ongoing Compliance:

Month 36 – Month 72
  1. Kuehl Capital runs analysis to set the levy for the following year and confirms ongoing feasibility
  2. At fiscal year-end, accounting firm performs audit for financial statements
  3. Kuehl Capital assists the district with post issuance tax-exempt compliance
  4. Kuehl Capital assists the district with continuing disclosure obligations

The SID Process

Land Acquisition

Land Acquisition

  • Developer identifies land for potential development
  • Developer works with engineer to determine if land has development potential
  • Developer works with attorney to get ground under contract
  • Attorney, engineer, and municipal advisor work with developer to negotiate subdivision agreement with city or county and terms of inter-local agreements, if any
  • Preliminary and final plats are approved

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SID Formation

SID Formation

  • SID is formed in district court
  • Professionals hired:
    • Attorney
    • Municipal Advisor
    • Engineer
    • Accountant
  • Enter into inter-local agreements

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Installation of Improvements

Installation of Improvements

  • Resolutions of necessity adopted by SID board
  • Notice to contractors defining specs of each contract and bids let
  • Engineer makes recommendation of lowest qualified bid
  • Award contracts
  • Begin installation of improvements

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Warrant Issuance

Warrant Issuance

  • Coincides with installation of improvements
  • Special assessments levied
  • Annual Interest warrants issued

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Lot Sales & Construction

Lot Sales & Construction

  • Lots sold
  • Construction of homes, commercial buildings, and apartments

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Bond Issuance

Bond Issuance

  • Taxable valuation is created
  • Bond size and issued to redeem warrants

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Bond Debt Retired or Annexation

Bond Debt Retired or Annexation

  • Bond debt retired or annexed by city

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Kuehl Capital

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

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