Past projects financed by Edgemoor’s financing partner have tapped into bank debt, private activity bonds, TIFIA loans, export credit agency financial products, and derivative products. While GARBs may have been pushed to the backburner, Edgemoor has touted its flexibility on P3 financing and said a range of tax-exempt, private, and “innovative” options were on the table at a news conference after its selection was announced. “Instead of the Aviation Department issuing airport revenue bonds to finance a new terminal, the developer will assemble the financing without using city taxpayer funds or issuing airport revenue bonds.” The “financing is provided by the development team and will be paid back solely by the airlines and through revenues generated at the airport,” city documents say. “With regard to the terminal modernization project, we are working closely with our partners to develop the plan of finance” and “all options” are still under consideration, Landes said. “We are watching the situation carefully, so that we can determine how the proposed tax plan would affect not only our terminal modernization project but also other planned financings of the city.” “We, of course, view this as a national issue that will affect all cities across the country and many more projects than just our terminal modernization project,” said finance director Randall Landes. City officials said Wednesday they remain in close contact with their congressional delegation and trade organizations tracking the tax bill as it stands to impact both the project and general city bonding options going forward. A special selection committee chose Edgemoor Infrastructure in September from among four firms vying to lead a public –private partnership.Ī release date for the finance plan has not been set.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |