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Local Improvement District
By Contributor on October 16, 2018
A local improvement district is a legal mechanism that local property areas can trigger to band together and assess areas of improvements that can be made to the neighborhood.
Types of improvements can include:
You need to know:
What lenders hope you never learn about mortgages
- Covered sidewalks
- Local parks
- Playgrounds
- etc
Recommendations they make are then submitted to the relevant authorities for assessment and funding approval.
Because this is the government’s money, proper procedure, accounting and governance accompany such projects to ensure that no fraudulent activities are involved.
Not all state have local improvement district mechanisms in place.
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