Published: March 11, 2010
Stone & Youngberg Announces Webinar Series to Focus on State of Community Development Authority/Tax Increment Financing in Virginia
RICHMOND, Va. - (BUSINESS WIRE) - Stone
& Youngberg, a leading financial services firm, today announced
that it will host a series of three Virginia Community Development
Authority/Tax Increment Financing (CDA/TIF) webinars to educate cities,
counties and landowners in the Commonwealth about this creative
financing tool. CDAs/TIFs are proving to be an excellent financing
option in the current economic climate, as local governments across
Virginia face severe budgetary shortfalls. This financing allows cities
and counties to build needed public infrastructure in conjunction with
development projects, with no liability for payment of the cost of the
infrastructure. As
the nation's leader in tax increment financing, Stone & Youngberg
has underwritten 98 issues for a total par value of more than $2.9
billion over the past five years - raising more capital using this
financing mechanism than any other firm in the country.1
"Municipalities across the country are increasingly looking to TIF
Financing as a way to fund large-scale infrastructure projects that
otherwise could not be financed in the current fiscal environment," said Steve
Heaney, managing director and head of Stone & Youngberg's Public
Finance Group. "As the national leader in the issuance of these types of
bonds, we believe our webinar program will serve as a valuable
educational tool for Virginia localities and developers."
Stone & Youngberg CDA/TIF Webinar Series Schedule
Session 1: Organization and Operation of CDAs/TIFs in Virginia
Tuesday,
April 6, 2010, 2 - 3:15 p.m. EDT
Session 1 will focus on the organization and operation of CDAs/TIFs in
Virginia, including appropriate usage, a review of the CDA statute, TIF
by agreement, back-up special assessment and basic bond issuance
process. The format will consist of brief presentations followed by a
discussion of basic Virginia case studies.
Session 2: Current CDA/TIF Case Studies in Virginia
Tuesday,
April 27, 2010, 2 - 3:15 p.m. EDT
Session 2 will focus on the twenty Virginia CDAs or CDA/TIFs that have
issued bonds. This discussion will include government policy issues,
bond structuring, community buy-in, financial analysis and modeling and
feasibility study. The format will include brief presentations followed
by case studies of more complex VA CDA transactions.
Session 3: Advanced Usage and Future Utilization of CDAs/TIFs
Tuesday,
May 18, 2010, 2 - 3:15 p.m. EDT
Session 3 will focus on the more advanced usage of CDAs/TIFs and their
future utilization. In view of the economic recession, the discussion
will focus on how localities and developers can work together to meet
each other's needs and finance necessary infrastructure. Topics covered
will include an analysis of the Methodology for Apportioning
Assessments, bond ratings, liability and a discussion of lessons learned
(both positive and not so positive) from the twenty VA CDAs.
The webinar panelists will include Keenan Rice, President of MuniCap,
Bonnie France, Partner at McGuireWoods and Ken
Powell, a managing director and head of Stone & Youngberg's
Virginia-based Public Finance Group. If you are interested in
participating, please contact John
Markowitz at Stone & Youngberg at jmarkowitz@syllc.com.
About Stone & Youngberg: Stone & Youngberg Holdings LLC is a
financial services company providing a range of products and services
through two subsidiary businesses. Stone & Youngberg LLC, founded in
1931 and member FINRA/SIPC, specializes in the origination and sale of
fixed-income securities. The firm led or co-managed the sale of 945
municipal bond issues totaling $20.6 billion over the past five years.2
In addition to bond underwriting and sales, Stone & Youngberg
provides investment services to individuals, institutions, and
government agencies and offers a wide variety of tax-exempt and taxable
securities. S&Y Capital Group LLC is a private real estate investment,
development, and consulting company.
Stone & Youngberg is headquartered in San Francisco with offices in Los
Angeles, San Diego, New York, Chicago, Phoenix, Richmond, VA, Annapolis,
MD, and Big Bear Lake, CA. Additional information is available at www.syllc.com
or by calling 800-447-8663.
1 Includes tax increment and tax allocation bond financings.
Full credit to book runner, equal if joint. Thomson Reuters 2009.
2 Thomson Reuters 2010
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6211403&lang=en
Stone & Youngberg LLC
Steve Hall, 415-445-2656
shall@syllc.com
or
Pierce
Communications Group, LLC
Kimberley Pierce, 510-326-0058
kimberley@piercecommgroup.com
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