Bond, Consulting or Both:
NHA Contributions: NHA Advisors provided strategic planning and financial analysis to help identify the funding sources to meet the project’s cost estimates. Previously, NHA introduced the City to a lobbyist who was successful in securing a $4 million “earmark” from the State for the Project. Working with City staff to identify existing sources of funds, potential value-engineering savings, projected other revenues and bond proceeds, NHA was able to develop a financing plan that culminated in the City breaking ground on the project in 2019.
Project Completion: July 2017
NHA Contact: Eric Scriven, Craig Hill and Rob Schmidt
Unique Characteristics of Project: One of the largest public facility projects in the City’s history requiring support of the community through an approval of a general obligation bond tax (Measure P) which provided the funds, in combination with a grant from the State, to support debt necessary to construct the City’s new police headquarters facility, emergency dispatch center, and multi‐function event space.
Executive Summary: NHA Advisors, as project manager, secured the services of an election polling and ballot measure specialist to work with the city to ascertain, create and implement a successful ballot measure election. NHA provided the financial analysis that supported this effort. The ballot passed its 2/3 threshold by 1 vote! NHA was then tasked to manage the financing process, which included putting the credit presentation together, reviewing all legal and disclosure documentation and overseeing the bond sale and closing process. NHA has provided municipal advisory services to the City of Selma since the firm’s inception. During this time, the City has called upon NHA for advice or to execute consulting and financing projects that have helped enhanced the City’s fiscal position.