Calaveras County: DLR has closed on two land-secured refundings for Saddle Creek, a golf community in the Sierra Nevadas. The Sales and Trading Desk found buyers who understood the developer’s long-term strategy.  •  Palmdale: DLR was sole Senior Manager on federally taxable Certificates of Participation so the city could acquire 600 acres for a 550-megawatt power plant to attract and retain businesses.  •  Chowchilla: DLR senior-managed a special bond for critical infrastructure improvement until development impact fees can be raised to support $93 million in residential, commercial and industrial projects.  •  Pittsburg: DLR was Senior Manager on a tax-allocation bond that raised almost $100 million for housing and other projects, and saved the city’s Redevelopment Agency another $3.5 million by refinancing earlier bonds.  •  Chula Vista: DLR senior-managed a tax-allocation bond after Chula Vista demonstrated that the future assessed value of the city’s Bayfront-Town Centre offsets a highly concentrated tax base.  •  Los Angeles: As book-running Senior Manager, DLR structured a $34.5-million pooled financing for the city’s Community Redevelopment Agency without a yield spread to adhere to the CRA policy to complete separation between project areas.  •  DLR senior-managed refunding of all outstanding debt at Ontario Airport, increasing the L.A. Department of Airports’ flexibility to define net revenues and its debt-service reserve fund – and reaffirm its “A” rating.  •  Long Beach: The city recently issued more than $190 million in redevelopment project financing, including $115 million of taxable bonds, in a Marks-Roos pooled issue to fund projects in five areas.  •  From naval base to housing space: Few could envision a new community when the Alameda Point Naval Air Station was decommissioned a decade ago. Today, a highly successful development with 300 homes occupies part of the old base.  •  Riverside County: DLR senior-managed a $25-million Mello-Roos financing to improve street, water, sewer, and other public facilities at Lake Hills Crest, a development with 512 single-family detached units.
 

Eric Scriven
Senior Vice President
San Francisco Office
Tel: (415) 495-8863
escriven@ejdelarosa.com
Eric Scriven joined the San Francisco banking staff at De La Rosa & Co. in 2006. During more than 18 years in municipal finance and real estate finance and development, Scriven has developed an expertise in property-based, tax-exempt financings, ranging from redevelopment tax increments and certificates of participation to Mello-Roos and Special Assessment Districts. He has completed challenging transactions for water, sewer and solid waste authorities and other revenue bond issuers, has resolved troubled credits with workout bond financings, and has successfully implemented variable, auction-rate and synthetic fixed-rate bond structures.

Extensive experience in establishing new credits and working with first-time issuers allows Scriven to provide invaluable support and advice on financial structuring, credit analysis, capital planning, budgeting and investment.

Scriven is active in and has been a featured speaker for various industry organizations, including the California Redevelopment Association, International City Management Association, California Society of Municipal Finance Officers and Municipal Management Association of Northern California.

Scriven earned a Bachelor of Science in Urban Land Economics and Finance from the University of California at Berkeley in 1985 and an MBA from Berkeley’s Haas School of Business in 1993. He holds Series 7 and 63 securities licenses and is a California licensed real estate broker.
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