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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.
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