Four major U.S. tobacco companies and a select group of states and territories signed a Master Settlement Agreement (the “MSA”) on November 23, 1998. The MSA was the result of the largest civil settlement in U.S. history. Under the MSA, the major tobacco companies provided the settling states with $246 billion over a 25-year period. […]
Methodist Family Health is an Arkansas non-profit offering inpatient psychiatric hospitalization for children ages 3 to 17; outpatient counseling clinics; grief counseling services; psychiatric residential treatment centers; therapeutic group homes; school-based counseling services; therapeutic day treatment programs for Kindergarten through 12th grades; a youth emergency shelter; and Arkansas Centers for Addictions Research, Education and Services […]
Civitan Services of Benton, Arkansas is a non-profit serving the needs of children and adults with developmental disabilities. It began in 1958 and has grown over the years and now operates in three service areas. Historically, Civitan had received funding from the United States Department of Housing and Urban Development (“HUD”) and traditional banks for […]
The Housing Authority of the City and County of San Francisco, California (“SFHA”) desired to access efficient financing to implement a significant energy conservation financing. Traditional industry funding sources were in flux as a result of the Great Recession. The United States Department of Housing and Urban Development (“HUD”) spends approximately $6.4 billion in utility […]
Education, State & Local Government
The state of Arkansas occasionally issues higher education bonds to fund portions of its budget. One such issuance of Higher Education General Obligation Bonds were issued to provide funds to finance technology and facility improvements for state institutions of higher education and to refund certain outstanding bonds. It is prudent of any institution with significant […]
In the midst of the Great Recession, the Boston Housing Authority (“BHA”) had a large money center bank back out of a significant financing. BHA needed to secure a fixed-rate, 20-year plus construction financing to take advantage of energy conservation incentives of the United States Department of Housing and Urban Development (“HUD”). Traditional industry funding […]
Economic Development, State & Local Government
In order to be competitive in the global market for jobs and investment, Arkansans passed Amendment 82 to the Arkansas Constitution in 2004 authorizing the use of general obligation bonds for major economic development projects approved by the Arkansas General Assembly (the “Assembly”). In 2013, as part of an incentive package to entice Big River […]
In midst of the of the Great Recession, the State of Arkansas, the City of Conway and its Conway Development Corporation strived to attract new companies and high paying jobs. Under immense national competition, they collaborated to provide incentives to attract a new Hewlett-Packard Company (“HP”) facility employing up to 1,200 workers. HP’s desire was […]
The United States Department of Housing and Urban Development (“HUD”) spends approximately $6.4 billion each year assisting housing authorities across the country and their tenants with utility bills. HUD established incentive programs to encourage Public Housing Authorities to take on Energy Performance Contracting (“EPC”) to help reduce these utility costs. Normally offered by Energy Service […]
Arkansas Arts Academy, one of the oldest and largest Arkansas open enrollment public charter schools, required a funding solution in order to significantly expand its campus facilities. While the State approved the school to increase enrollment from 800 to 1250, existing bond covenants from a 2010 bond issue underwritten by another investment banking firm were […]
