gada - League of Arizona Cities and Towns

Report
Greater Arizona Development
Authority (GADA)
Meeting the Infrastructure Needs of
Small, Rural and Tribal Communities
in Arizona
Williams Justice Center
Sahuarita Town Hall
Northwest Fire District
League of Arizona Cities and Towns
Rural Economic Development Tools
and Programs for Infrastructure
August 21, 2014
Coolidge Police Dept.
GREATER ARIZONA DEVELOPMENT
AUTHORITY (GADA)
GADA enables small communities to affordably finance critical infrastructure
projects.
 GADA’s mission is to assist Arizona communities with the development of
public infrastructure projects that enhance community and economic
development.
 GADA’s goals are to lower the cost of financing and help accelerate
project development for public facilities owned, operated and maintained
by a political subdivision, special district or Indian tribe.
 To accomplish these goals, GADA is authorized under statute to offer
both financial and technical assistance programs.
 Since its creation in 1997, GADA has leveraged initial funding of
$20 million to fund $575 million in public infrastructure investment via 84
projects across the State.
GREATER ARIZONA DEVELOPMENT
AUTHORITY (GADA)
These infrastructure projects, defined by State law, exist for public use.
Infrastructure is defined as:
“Any land, building or other improvement and equipment or
other personal property that will make up part of a facility that is located
in this State for public use and that is owned by a political subdivision,
special district or Indian tribe that retains ultimate responsibility for its
operation and maintenance”. (ARS 41-2251.6)
GREATER ARIZONA DEVELOPMENT
AUTHORITY (GADA)
Distribution of GADA Financing by Project Type
$120
$108
$98
$100
$90
$88
$87
$20
$0
$28
6 projects
12 projects
11 projects
22 projects
$40
12 projects
11 projects
$60
$76
10 projects
$ millions
$80
Transportation(1)
Water/Wastewater
Misc. Capital
Improvements
(1) Includes $63 million road project for Pinal County in 2006.
Fire Districts
Recreation Facilities
Administrative
Facilities
Public Safety
GREATER ARIZONA DEVELOPMENT
AUTHORITY (GADA)
GADA financing significantly reduces loan costs for our
communities.
 GADA improves access to capital markets for communities with low- and
non-investment grade bond ratings.
 GADA can, when available, subsidize up to 50% of the cost of issuance
(COI). Fees included in COI generally cover bond counsel, financial
advisors, refunding fees and bond insurance, where applicable.
 GADA can, when available, finance technical assistance, up to $250,000,
over a 3-year repayment period.
Greater Arizona Development
Authority (GADA)
Examples of GADA Projects
Williams Justice Center
Sahuarita Town Hall
Northwest Fire District
Coolidge Police Dept.
SCOPE
• 2000 Wash Flood Control $895,000
• 2001 Public Safety Building $2.5 million
Cottonwood
$23.3 million in GADA
Financing
• 2007 Miscellaneous Capital Improvements
(Including library and recreation center)
$19.9 million
RESULTS
• Utilizing GADA’s ratings along with subsidies
resulted in savings of $588,000, or 2.5% of total
project cost.
*Population
11,265
TESTIMONIALS
• Finance manager found GADA “easy” to work
with.
• Projects met urgent need to reduce flooding,
solved over-crowding for police and fire personnel
and provided a highly utilized recreation facility.
• Projects provided for a 20% - 30% increase in
public safety personnel, 4 new full-time jobs and
numerous summer job opportunities at the
recreation facility.
SCOPE
• 2003 Debt Refinancing and Capital Projects
Williams
$8.1 million in GADA
Financing
$3.59 million
• 2005 Transportation Improvements $1.5 million
• 2008 Transportation Improvements $3.0 million
RESULTS
• Utilizing GADA’s ratings along with subsidies
resulted in savings of $1.04 million, or 12.9% of
total project cost.
*Population
3,295
TESTIMONIALS
• Finance manager found GADA staff “very
helpful”, financings ran “smoothly”.
• Road repairs and expansions resulted in RV
park and restaurant near Grand Canyon
Railway. Made it possible for KC HiLites to stay
in Williams.
• Finance manager would look to GADA for
future financings.
SCOPE
• 2007 Fire Facilities and Equipment $745,000
• 2009 Capital Equipment $180,000
Mayer
$925,000 in GADA
Financing
RESULTS
• Utilizing GADA’s ratings along with subsidies
resulted in savings of $221,000, or 23.9% of
total project cost.
*Population
1,408
TESTIMONIALS
• Finance manager found GADA “easy” to work
with.
• Finance manager felt the program had the
interest of small, rural community at heart.
• Previous fire facility had been condemned by
the county.
• Finance manager offered to publicly promote
GADA program.
GREATER ARIZONA DEVELOPMENT
AUTHORITY (GADA)
What types of infrastructure could GADA support in my community?
 Feasibility studies, land acquisition and improvements, easements, road
widening and improvement to support Broadband installation
 Road and other capital improvements to support growth in the six border
points of entry between Arizona and Mexico
 Infrastructure improvements to attract and retain mining operations
 Land acquisition and building construction/improvements for community
colleges
GREATER ARIZONA DEVELOPMENT
AUTHORITY (GADA)
How can I find out more about GADA?
 Visit the GADA website at www.azgada.gov
 Contact: Julia Richard, Senior Development Manager
Direct: (602) 364-1381
Office: (602) 364-1310
email: [email protected]

similar documents