Practice Areas ...
Public / Private Finance Solutions
has managed many assignments where the task was to craft a finance and
management solution for both public-sector and private-sector parties.
Some specific examples have included working with
a consortium of developers and the City of Aurora on methods to finance
development costs, a Western slope developer to propose community capital financing arrangements
in conjunction with annexation, the cities of Lakewood and Westminster regarding
the redevelopment of retail centers, and the City and County of Denver regarding the redevelopment of inner-city mixed
Each assignment has required
creative and case-specific solutions using public finance tools (taxes, fees,
districts, debt instruments, intergovernmental agreements, tax increment
financing, etc.) and private finance tools (voluntary fees, payment and
reimbursement, dedication, lease/purchase, etc.) and presenting ideas and
options in informal negotiation settings as well as formal meetings until a
satisfactory solution was achieved.
Public Finance Plans
has developed innovative public finance plans for local governments to fund
capital, operations and maintenance costs associated with a variety of public
improvements including courthouses, park and recreation facilities,
amphitheaters, police and fire stations, libraries, drainage improvements, and
Fiscal Impact / Cost Recovery / Impact Fee Analysis
Coley/Forrest has developed a
number of fiscal impact, cost recovery, and impact fee analyses for
public-sector clients, such as municipalities, counties, school districts, and
park and recreation districts and for private sector clients, such as investment
bankers and real estate developers. Each analysis is tailored uniquely to the
financial practices of the district or local government and to an appropriate
level of detail, given the issues to be resolved. Most recently, Ms.
Townsend was retained by a group of 15 residential and mixed-use developers to
represent them in an 18-month process where the developers partnered with the
City of Aurora to develop a workable cost recovery fee and financing plan for
development. Currently, the firm is building a fiscal model that will
contain features that measure sustainability.
The firm has extensive
working experience in structuring transportation finance arrangements for
departments of transportation, transit authorities, transportation districts,
municipal and county governments, property owners and developers. The scope of
work has included recommending alternative techniques to finance projects,
forecasting related revenues and expenditures, proposing public/private and
public/public partnership arrangements, preparing cost/benefit and
cost/effectiveness analyses, preparing financial feasibility analyses, and
anticipating economic and fiscal impacts. The type of transportation finance
projects have included heavy rail, commuter rail, light rail, road widening and
extensions, bypasses and new parkways, interchange additions and improvements,
parking, and transportation demand management alternatives.
Park and Open Space Finance
Coley/Forrest has assisted a
number of municipalities, counties, districts and non-profit organizations
regarding the market and financial feasibility of park, recreation, and related
educational facilities, programs, and services. An illustrative sampling of
these assignments has included a financial and market plan for refurbishment of
Red Rocks Amphitheater, financial plan for redevelopment of Calkins Lake, a
market potential analysis for a new mountain reservoir, and financial plans for
park and recreation master plans.
Expert Witness Experience
Ms. Townsend, president of Coley/Forrest, has represented
cities, counties, and districts as a testifying expert witness in the fields of
market and real estate feasibility, economic impacts and public finance.
One extended assignment was working for the City and County of Denver during its
years of land acquisition work in conjunction with the Denver International
Airport; another assignment was working with the City of Lakewood regarding a
bankruptcy action filed by a metropolitan district and its impact on City
residents and businesses.
participated in the preparation of the social and economic portions of a number
of impact analyses under NEPA and other federal and state guidelines. This work
has involved the rigorous application of input-output and fiscal impact models,
detailed analysis of business impacts, careful analysis of qualitative economic
issues such as job quality, and economic health. Several projects have involved
impacts on natural resources including national parks and the exportation of
water. Other assignments have been uniquely tailored to impacts associated with
major airport construction or expansion.
Trans-Jurisdictional Water Issues
Coley/Forrest has represented Park County, Elbert County,
Grand County and Chaffee County on socio-economic and financial impacts
considerations associated with trans-jurisdictional or trans-mountain water
diversion projects. Responsibilities have been to help each county analyze
anticipated impacts, articulate these potential impacts to proponents, work
through potential mitigation solutions with all parties and testify at public
hearings as an expert witness.
Coley/Forrest has prepared hundreds of market feasibility
analyses for developers, investment bankers, lenders, districts, and
municipalities. The range of assignments has included the full price range
of residential products, as well as retail, office, industrial, recreation, and
institutional uses. She has prepared market analyses in downtown,
suburban, rural, and resort settings.
Real Estate and Revenue Forecasting
Coley/Forrest has prepared forecasts of real estate
parameters, such as population, households, employment and sales activity and
related public finance parameters such as property and sales tax revenues, user
and tap fees, and real estate transfer fees. Representative assignments
have included forecasts of sales and property tax revenues for investment
banking firms preparing to issue tax increment debt, real estate transfer fee
revenues for developers, household and employment for municipal and county
governments, and households by income bracket for real estate developers.
Community Revitalization / Urban Renewal
Coley/Forrest has worked
with municipalities, urban renewal and downtown development authorities on the
finance, market, economic and strategic components of community and downtown
revitalization. A sampling of clients have included the cities of Aurora,
Boulder, Denver, Englewood, and Lakewood, urban renewal and downtown development
authorities of Aurora, Boulder, Denver, Grand Junction, Lakewood, Westminster,
Wheat Ridge, and Winter Park, the Sugar House District in Salt Lake City, and
Cheyenne, Wyoming. The firm has also worked for real estate developers in
collaboration with urban renewal authorities in Aurora, Glenwood Springs, Grand
Junction, Northglenn and Timnath.
The objective of economic development is action. A
hallmark of Coley/Forrest’s economic development work is its detailed focus on
its client’s unique economic assets and careful consideration of economic
development initiatives that match the client’s interests and commitment.
Every assignment is quite unique. The assignment is successful only when
action begins. Nearly all of the firm’s practice areas (fiscal impact,
forecasting, public finance, community revitalization, socioeconomic impacts,
etc.) provide pertinent background support for its economic development work.
The firm has prepared economic development plans on a citywide scale and for
targeted areas. These plans have been prepared for communities facing
decline and seeking a wide range of development at any volume, for communities
that question the benefit of economic development and seek to attract a very
narrow range of prospects, and for communities seeking substantial growth,
development and redevelopment.
Affordable Housing Development
Coley/Forrest staff has worked as project manager to
develop an affordable housing and mixed-use transit-oriented development for two
non-profit organizations. Ms. Townsend functioned as project manager,
handing assignments from the initial purchase of property, through financing,
construction, and sale or lease. The development included market and tax-credit
residential rental units, residential condominiums, office condominiums, retail
and office space for lease. Tax increment financing, federal and state tax
credits, subsidized loans and market rate loans are mortgages were used.
Complex Applications Practice Group
On occasion, local
governments, businesses and real estate developers become engaged in
negotiations that are unusual in their size and complexity. The outcome can be
significant and permanent for all parties. Often, the local government is not
staffed appropriately to manage these complex applications simply because of
their unusual nature. In collaboration with colleagues experienced in local
government law, water law, mediation, hydrology, land use, and engineering,
Coley Forrest lends its expertise in socioeconomic impacts, fiscal impacts, and
mitigation. Please visit
Applications Practice Group for more detailed information.
Sports Events Feasibility
In collaboration with
colleagues experienced in distance-running event operations and management, Coley/Forrest is a
partner in Win Together, LLC,
which provides strategic advice regarding race feasibility, sponsor development,
operations and management to existing and potential event sponsors and
For a partial list of who has retained us in the past, please
For more information, contact Jean Townsend: