Funding projects can be difficult, especially when many cities are facing historic budget constraints. Often, finding this money means passing on the costs of programs to residents. However, by bringing years of experience and strategic thinking to the situation, the Newcomb De Dios Financial Group executed a plan that funded improvements to Rohnert Park mobile homes without any financial impact or cost increases to the residents.
“Historically low interest rates have enabled communities across California to invest in infrastructure improvements,” said Pam Newcomb, a principal with Newcomb De Dios Financial Group. Newcomb De Dios Financial Group is an investment banking firm that provides underwriting and financial advisory services to municipalities and government entities. “Additionally, costs of construction remain lower than the highs of the last decade, so developers are finding even more reason to start projects now.”
Most recently, Newcomb De Dios Financial Group managed the Independent Cities Finance Authority, Mobile Home Park Revenue Refunding Bonds for two Parks in Rohnert Park. Their strategies and expertise resulted in providing a funding source for capital improvements in the two mobile home parks without any rent increases, despite the fact that this was an option under the Rent Control Ordinance. The three principals that lead the group are Manny De Dios, Pamela Newcomb, and Janees Williams.
Historically low tax-exempt bond rates allowed Newcomb De Dios Financial Group to refund two series of bonds. Due to the difference in interest rates between the current bonds (at 6.40%/5.90%) and the proposed new rate of 4.82%, the debt service savings warrant a refunding. These savings generated additional funds of $3,685,000 for capital improvements for Millennium Housing Corporation, owner of the two Rohnert Park Mobile Homes, to use towards infrastructure upgrades to electrical systems, street improvements, clubhouse enhancements, and other necessary projects. The refunding enables capital improvements without burdening residents with the cost at a time when people will be particularly appreciative of one less expense to worry about.
“Historically low interest rates have enabled communities across California to invest in infrastructure improvements,” said Pam Newcomb, a principal with Newcomb De Dios Financial Group. Newcomb De Dios Financial Group is an investment banking firm that provides underwriting and financial advisory services to municipalities and government entities. “Additionally, costs of construction remain lower than the highs of the last decade, so developers are finding even more reason to start projects now.”
Most recently, Newcomb De Dios Financial Group managed the Independent Cities Finance Authority, Mobile Home Park Revenue Refunding Bonds for two Parks in Rohnert Park. Their strategies and expertise resulted in providing a funding source for capital improvements in the two mobile home parks without any rent increases, despite the fact that this was an option under the Rent Control Ordinance. The three principals that lead the group are Manny De Dios, Pamela Newcomb, and Janees Williams.
Historically low tax-exempt bond rates allowed Newcomb De Dios Financial Group to refund two series of bonds. Due to the difference in interest rates between the current bonds (at 6.40%/5.90%) and the proposed new rate of 4.82%, the debt service savings warrant a refunding. These savings generated additional funds of $3,685,000 for capital improvements for Millennium Housing Corporation, owner of the two Rohnert Park Mobile Homes, to use towards infrastructure upgrades to electrical systems, street improvements, clubhouse enhancements, and other necessary projects. The refunding enables capital improvements without burdening residents with the cost at a time when people will be particularly appreciative of one less expense to worry about.
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