What fees are used to enhance the appeal and property values of an area by funding public space improvements?

Special District Assessments are specific fees levied on properties within a designated area to fund improvements and maintenance of public spaces, amenities, and infrastructure that directly enhance the appeal and value of that area. These assessments are often linked to special districts, which allow local governments to raise funds for specific projects such as parks, streetscapes, landscaping, and other public improvements. Property owners within the district generally benefit from these enhancements, which can lead to increased property values and a better quality of life for residents.

Development Impact Fees and General Obligation Bonds, while important financing tools for municipal projects, serve different purposes. Development Impact Fees are usually charged to developers to offset the costs of new infrastructure required by their projects, rather than funding ongoing improvements in existing public spaces. General Obligation Bonds are debt instruments issued by governments, secured by a pledge to use future tax revenues to repay bondholders, and are often used for larger capital projects without a direct tie to specific property assessments. Public Enterprise Revenue Bonds are typically used to fund revenue-generating projects, such as utilities, which do not directly impact property values in the way that public space improvements do.