City Of San Diego Closes Refinancing Of Over 20 Bond Issues

Assisted the Successor Agency to the Redevelopment Agency of the City of San Diego in closing a refinancing of over 20 prior tax allocation bond issues for interest rate savings. The financing involved numerous projects within the City of San Diego. In performing due diligence for the project,  our team discovered an election made by the Redevelopment Agency that was inadvertently costing the City millions of dollars each year and which the current city administration had been unaware. The revocation of the resolution is expected to reap more than $50 million over the next 15 years to the City.