TIP is an early stage, non-recourse financing tool that leverages developer’s future Municipal Utility District (MUD) reimbursements. TIP bond proceeds can be used to reimburse developers for district eligible costs that have been spent or fund the construction of additional future improvements. The TIP team is comprised of several experienced consultants, and since completing the first MUD receivable financing in 2021, the team has helped developers across the state raise more than $1.5B for infrastructure projects across Texas.
Non-recourse financing that leverages future MUD reimbursements to generate proceeds today
This financing does not impact traditional MUD issuance processes or consultant teams, and once the TIP bond is repaid all remaining MUD reimbursements revert back to the developer
Typical interest rate of 5-8% (typical all in borrowing cost of 7-11% when incorporating cost of issuance and interest / reserves)
In total principal raised
Completed transactions
Homes benefitted
Fully Non-Recourse – only MUD bond proceeds secure the financing, with no developer guarantees or encumbered land
Funding Options – TIP has the ability to fund construction of eligible public improvements or reimburse for costs already spent
Custom Structuring – every financing in tailored to your project and goals
Speed – TIP has a vetted and tested transaction process that provides efficient and transparent execution
Experience – the TIP team has completed 45+ transactions totaling over $1.5B in principal
*Source: Refinitiv. Deal count of non-rated, tax-exempt municipal utility district receivable transactions, January 1, 2024 - December 31, 2025