The Independent Cities Finance Authority (ICFA) recently selected Newcomb Williams Financial Group (NWFG) as underwriter for the $23 million Rancho Vallacitos Mobile Home Park bond refunding. Built in 1971 and located in the City of San Marcos, the park consists of over 50 acres and 340 units. The exclusively over-55 community includes a pool, spa, recreation center, laundry and other amenities, and is fully occupied, with a low turnover rate.
The refunding provides maintenance and capital improvements to the park. “This financing provides a wonderful opportunity to capitalize on historically low interest rates to provide additional funding for the Parks capital improvements” said Janees Williams, Senior Vice President of NWFG. Funds remaining after paying bills and fees will stay in the park for housing assistance, homeowner activities, additional capital improvements and other uses benefiting the community.
The refunding provides maintenance and capital improvements to the park. “This financing provides a wonderful opportunity to capitalize on historically low interest rates to provide additional funding for the Parks capital improvements” said Janees Williams, Senior Vice President of NWFG. Funds remaining after paying bills and fees will stay in the park for housing assistance, homeowner activities, additional capital improvements and other uses benefiting the community.
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