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Investors jump for 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 controls
energy destiny: 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. • Infrastructure
keeps Chowchilla growing: 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 fares well in crowded financial market: 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. •
Projected value packs a punch: 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. •
Pooled financing for 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. •
Lightening the debt load: 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.
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