HdLCC has extensive experience working with redevelopment agencies and redevelopment finance. We have assisted numerous redevelopment agencies with statements of indebtedness, annual financial reports, and low and moderate income housing calculations, including deficit reduction plans and excess surplus calculations. HdLCC has participated 292 issuances of tax increment supported debt involving more than $5.6 billion of total bonds.
Under the new reality of redevelopment agency dissolution, issuance of new tax allocation bonds has ended. Passage of AB 1484 has provided the opportunity for successor agencies to refinance existing bonds in order to realize savings on debt service obligations. This new form of debt issuance is still very new but similar documentation of available incremental revenue will be needed. HdLCC is prepared to assist successor agencies by providing fiscal consulting services on these refinancing efforts. The fiscal consultant’s report will normally include a review of the reliability of the tax increment revenue that is pledged for the repayment of the bonds to be issued. Among the areas reviewed are the current laws as they would apply to the proposed bonds, the county's system of allocating tax increment, tax-sharing obligations (statutory and agreement based), redevelopment plan limits, analyses of pending appeals, anticipated new development and changes of ownership, top taxpayers, and the potential impact of any pending legislation.
As part of a redevelopment agency's finance team, HdLCC participates and assists with the structuring of the bond issue, review of the bond documents, and with presentations to rating agencies and insurance companies.
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