Special District Group
Market-leading expertise on a powerful platform
The special district group is comprised of more than 30 dedicated professionals including bankers, quantitative team members and support staff with market-leading experience underwriting more than $25 billion in special district debt.
No.1
in the nation for special district bond issuances*
No. 1
in non-rated bonds sold nationwide**
45+
years underwriting special district debt***
Who we are
The special district group works with the development community and local governments in rapidly growing regions to structure and sell debt for public infrastructure. Serving clients across the nation from offices in Denver, Salt Lake City, Houston and Phoenix, the group works to promote housing attainability and economic opportunity in the communities we serve. Leading the process of raising capital for residential and commercial projects, the special district group provides exceptional knowledge, un-matched experience and industry-leading distribution capabilities to help navigate an increasingly complex market.
*LSEG: Principal amount of negotiated sales of CO Metro Districts, GIDs, SIDs, CABs; UT PIDs, IFDs; TX MUDs, MUD Receivable; FL CDDs; CA CFDs. January 1, 2021 - December 31, 2025.
**LSEG: Number Transaction count of non-rated senior/sole transactions. January 1, 2021 - December 31, 2025.
***Special District Group first financing occurred in 1980
Decades of Innovation in Special District Finance
State Affordability Infrastructure Districts
ARIZONA
In 2026, our team collaborated on House Bill 2999, which allows for the creation of State Affordability Infrastructure Districts. The law leverages the experience of our team in Colorado and Utah special districts to ensure SAIDs are an effective mechanism to raise low-cost capital at the early stages of master-planned development.
MUD Receivable Bonds
TEXAS
In 2023, the special district group structured and executed the first tax-exempt Municipal Utility District Receivable transaction. In 2024, our team further innovated by partnering with the Texas Infrastructure Program to provide developers with access to early-stage capital to unlock master-planned communities.
Public Infrastructure Districts
UTAH
The leadership of the special district group was instrumental in the passage of Senate Bill 228 in 2019, allowing for the creation of Public Infrastructure Districts. Since then, PIDs have become the primary tool for infrastructure financing with over $5 billion in tax-exempt bond issuances to date.
Metropolitan District
COLORADO
Starting in the 1980’s, our team pioneered the use of special districts to facilitate the funding of public infrastructure for master planned development, refining the tool over the course of decades to make Colorado the state where special district finance is more intensively used than anywhere else in the nation.
News & Insights
Recent Transactions
Why partner with us?
Our team provides clients with exceptional knowledge, un-matched experience, and industry-leading distribution capabilities to help navigate the increasingly complex market. Whether our clients are looking to raise capital for infrastructure at an early stage of development, or once a project is completed, our team is equipped to analyze all of the options available in the marketplace and ensure that our clients understand the tradeoffs inherent in each approach.
