Financing Parking

Public parking structures in CCDC redevelopment districts are largely funded as a partnership between CCDC and private developers. Because the Idaho market does not support high parking rates, parking revenue is typically insufficient to pay the full costs of building, operating, and maintaining a parking garage. The revenue generated by the garages does pay for part of the project costs, but the unique quasi-governmental nature of CCDC permits it to use additional and valuable financing tools. For instance, it can sell public bonds for up-front capital. It also can use favorable governmental bond ratings to secure its financing at lower interest rates than otherwise available. Additionally, CCDC can use tax increment revenue generated within its redevelopment districts to help pay any debts.

With the multitude of useful funding options at its disposal, CCDC redevelopment districts have an advantage in creating exceptional parking structures that will support future growth.