City of Davis

Land-Secured Workout

Project Highlights

In 1990, the City of Davis issued $30 million in special tax bonds to fund public infrastructure for a primarily residential development in the Mace Ranch master planned community. Within five years, progress on the development had stalled due to the extensive debt loads on the property, and it was clear that the financing plan for the project needed to be restructured. NHA Advisors worked for several years to revise the City’s impact fees, revise the special tax rate formula for the CFD, and refinance the original bonds. As a result, the Mace Ranch development was completed and is a successful residential and retail community in the City.

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