FUNDAMENTALS OF ECONOMIC DEVELOPMENT FINANCE

A comprehensive guide to the basics of funding and finance for development projects.

In this useful reference for community development professionals, particularly those with limited exposure to finance and related concepts, an industry consultant provides a broad overview of strategic planning and startup financing for projects that serve the public good, from housing and health care to retail and infrastructure. The book is divided into chapters that follow the essential steps of the development process, from idea generation and corporate structure through business planning and funding acquisition. Each chapter concludes with case-study exercises drawn from a hypothetical urban-redevelopment process. MBAs are not the target audience. Instead, the text is pitched at an appropriate level for nonprofit staffers and community leaders who are passionate about local growth and development but unfamiliar with its mechanics. Advice is offered on the advantages and disadvantages of sole proprietorships, corporations and partnerships; the methods of calculating cash flow, internal rate of return and other standard metrics; and available funding vehicles. In addition to walking the reader through the steps of strategic planning and market analysis, the book provides several examples of the financial statements that are a critical part of any application for funding. It also offers an overview of the information necessary for funding solicitations of all types, from grant applications to bond issue proposals, with detailed resources. While the guide draws most often on examples of public-private partnerships designed for local housing and commercial development, its substance is broadly applicable, making the book a useful tool for those pursuing everything from soliciting foundation support for an after-school science program to issuing municipal bonds to fund the construction of a new performance venue.

An understandable, highly informative guide for nonfinancial professionals engaged in development work and community improvement.