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.
 

Riverside Finances
Infrastructure for
512 Families


In 2005, De La Rosa & Co. was Senior Manager on a $25-million Mello-Roos financing for Riverside County to provide street, water, sewer, flood-control facilities, and other public improvements for Lake Hills Crest, a development with 512 single-family detached units in five residential neighborhoods.

(complete version)
   
Los Angeles:
10866 Wilshire Boulevard, Penthouse Suite 1650
Los Angeles, CA 90024

General
Tel: (310) 207-1975
Fax: (310) 207-1995

Edward J. De La Rosa
edelarosa@ejdelarosa.com

Sales & Trading
Tel: (310) 207-3616
      (866) 361-3300
Fax: (310) 207-1995

Benjamin E. Stern
bstern@ejdelarosa.com

San Francisco:
101 Montgomery Street, Suite 2150
San Francisco, California 94104
Tel: (415) 495-8863
Fax: (415) 495-8864

John W. Kim
jkim@ejdelarosa.com