With over 60 years of combined experience as public finance professionals, the leadership of NHA Advisors has served as financial advisor or consultant to hundreds of public agencies throughout California. This extensive experience allows NHA Advisors to provide the necessary expertise to address a broad range of issues that impact public agencies.
NHA Advisors takes a holistic approach to the financial needs of each public agency we work with. Although traditional public finance has generally included the issuance of tax-exempt municipal bonds or other debt, NHA Advisors looks at each project and its financing sources to determine the best solution. This may include the use of existing fund balances, internal financing, direct placement of obligations with a private investor, or the use of the capital markets through an issuance of bonds.
As financial advisor, it is our responsibility to advocate and represent our clients. We act as project manager to ensure that the most financially feasible solutions are investigated and implemented. Our primary objective is to provide public agencies with all available funding options before making recommendations on a specific financing source. We are indifferent to which financing structure is ultimately chosen and do not advocate for any mechanism that could financially benefit the financing team or other consultants.
Over the past three decades, the leadership of NHA Advisors has served as financial advisor to public agencies for more than a thousand projects, resulting in hundreds of financings totaling over $10 billion dollars.
NHA Advisors developed a consulting practice to meet the changing needs of our public agency clients. This practice evolved from consistent requests from our clients for assistance with non-bond-related projects. Consulting assignments have ranged from financial modeling and budget analysis to assistance with day-to-day tasks that many public agencies require but do not have the staffing resources to carry out.
Public finance consulting is not a secondary business for us. Helping public agencies meet their financial needs and meet the expectations of their communities is our primary focus as a firm and our passion as professionals.
NHA Advisors’ work with public agencies throughout California keeps us abreast of the unique challenges that public agencies face, allowing us to gather information and identify new approaches to save public agencies time and money.
Our consulting services generally fall into one of four categories:
- Financial Planning and Budgeting
- Financial Analysis and Modeling
- Extension-of-Staff Services
There are times when public agencies or private property owners are unable to make debt service payments related to a debt obligation. It is typically in the best interest of all parties to negotiate a restructuring of either the business deal behind the debt or the debt itself.
NHA Advisors is a leader in negotiating workouts for defaulted or distressed municipal bond issues. We have successfully negotiated 15 such workouts, which were recommended to us based on our experience and understanding of the process. This experience allows us to lead negotiations and educate all parties on the realities of a successful workout and the analysis surrounding the amount of available funds.
We have negotiated workouts for a variety of projects, some of which include:
- Lease Financings
- Utility Revenue Bonds
- Tax Allocation Bonds
- Land-Secured Financings for Residential, Commercial, and Industrial Developments
In our experience, success is defined as “all parties agreeing to the workout.” The most successful workouts are created through negotiation, not litigation. NHA Advisors believes that litigation is only useful in buying time for negotiations, but not in achieving a workable long-term solution.
We believe workouts are the most complicated and demanding of any public finance structure and require skill-sets that many professionals do not possess. We invite public agencies and private parties to contact us and let us see if we can find solutions to your prolonged, awkward, or seemingly unmanageable financial dilemma.
What is Public Finance?
Public finance is the tool necessary for any governmental entity, non-profit, or other agency to access capital for the completion of projects. Traditional public finance included the issuance of bonds through the underwriting process. Over the last twenty years, public finance has evolved to include the access to capital through federal, state, and local agencies as well as private institutions and banks who have established relationships with public agencies.