Government Capital Corporation

Government Capital Corporatoin is a leading public finance firm offering its clients a broad range of financing solutions.

Land

LAVON ECONOMIC DEVELOPMENT CORPORATION PURCHASES LAND FOR “PROJECT MAIN STREET”

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Lavon, Texas (July 2021) – The Lavon Economic Development Corporation (LEDC) has acquired a 0.6-acre retail site at 619 Main Street and Lake Road for a “Project Main Street” development. This area will be developed as a retail and/or office building for various small businesses. The LEDC will use this development as a demonstration of the commercial development potential for Lavon. The Lavon EDC has begun the design of the “Main Street Project” and is considering a 2-story, 6,000 square foot facility. Construction is expected to begin in early 2022. Financing was provided by Government Capital Corporation, Southlake, Texas.

“The finance structure provided by Government Capital Corporation was the perfect solution for our project. I appreciate the financial analysis and projections GCC provided for this phase and the construction phase of the project,” commented Kay Wright, President, Lavon EDC. “The finance solution provided by Government Capital Corporation was a complete win for LEDC.”

“I would like to congratulate Kay Wright and LEDC for their work and foresight,” stated Lisa Hott, Municipal Finance Specialist, Government Capital Corporation. “This is a great example of dedicated leaders being responsible with their resources and diligently assessing the needs of and opportunities for the community.”

About Lavon Economic Development Corporation

Lavon Economic Development Corporation is located in Lavon, Texas and serves a population of more than 4,000 residents. The Lavon City Council adopted the Articles of Incorporation for the LEDC following the approval of the voters, on December 20, 2004. The motto of the LEDC is “We Cultivate Investment and Growth” with their purpose being to develop and market retail, commercial, technology, and manufacturing investments which will benefit Lavon for years to come. To learn more visit www.lavonedc.com

About Government Capital Corporation

Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4.5 billion in Texas and across the country. For more information, visit www.govcap.com

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BAY CITY COMMUNITY DEVELOPMENT CORPORATION ANNOUNCES REFUNDING SAVINGS

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Bay City, Texas (July 2021) – The Bay City Community Development Corporation announces the recent refunding of two separate debt obligations, one for a training facility and another for land acquisition. “Combining the two into one obligation maximized the savings for Bay City Community Development Corporation,” stated Jessica Russell, Executive Director. With the restructuring, Bay City is able to achieve significant interest savings via today’s low market rates. Government Capital Corporation, Southlake, Texas provided the refunding structure and refinancing.

“The financing provided by Government Capital Corporation, will allow us optimum budget flexibility. Their experience allowed the refunding to proceed very efficiently,” Ms. Russell commented.

“The current economic environment has development corporations searching for alternative funding options,” stated Jana Jay, Municipal Finance Specialist, Government Capital Corporation. “Our ability to customize this financing was integral to meeting the needs and budget of this client. It was a pleasure to work with Bay City Community Development Corporation on this transaction.”

About Bay City Community Development Corporation 

Bay City Community Development Corporation creates welcoming opportunities for residents and businesses in the city of Bay City. Their goals include providing opportunities for education expansion in their community, developing and encouraging entrepreneurship and leadership in their community, and encouraging new and current businesses to invest in Bay City. To learn more visit www.visitbaycity.org

 About Government Capital Corporation 

Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4.5 Billion in Texas and across the nation. For more information, visit www.govcap.com

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CITY OF BURNS ANNOUNCES REFUNDING SAVINGS

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Burns, Oregon (May 2021) – The City of Burns announces the recent refunding of a League of Oregon Cities, LOCAP Program loan. The original note proceeds were used for the land acquisition and construction of the Burns Municipal Airport. The tax-exempt refunding loan structure resulted in a significant savings for the city via a reduced fixed interest rate and contains less restrictive covenants. The structure for the refunding was provided by Government Capital Corporation, Southlake, Texas. Jim Shannon of Mersereau Shannon LLP, Portland, Oregon provided the documentation and legal review.

“The refunding process was seamless and painless and closed within thirty days from approval of the Resolution,” stated Dan Brown, Burns City Manager. “I appreciate the professionalism and knowledge of public finance borrowing regulations exhibited by everyone at Government Capital.”

“It was an honor and a privilege to work alongside Dan Brown, Burns City Manager,” stated Lisa Hot of Government Capital Corporation. “We were excited to be able to save the City thousands of dollars in interest costs. We take great pride in assisting local governments meet their goals and objectives.”

About the City of Burns
Burns is commonly referred to as the gateway to the Steens Mountains. The mountain, a thirty-mile fault block consists of five separate vegetation zones of glaciated gorges, lakes, and meadows. Burns offers breathtaking scenery, outdoor activities of hiking, fishing, hunting, and backpacking. Burns is the county seat of Harney County and has a population of more than 2,800. To learn more visit ci.burns.or.us 

About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4.5 Billion in Oregon and across the nation. For more information, visit www.govcap.com

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CITY OF LOWELL ACQUIRES LAND FOR FUTURE DEVELOPMENT

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Lowell, Oregon (November 2020) ‐ The City of Lowell, Oregon announces the acquisition of two parcels of land, 205 East Main Street and adjacent lot in Lowell. This property will accommodate future growth for the city. Government Capital Corporation, Southlake, Texas provided the financing for the acquisition. Documents and legal review were provided by Jim Shannon of Mersereau Shannon LLP, Portland, Oregon.

“There were a few obstacles we had to work through, and the Government Capital staff provided great assistance and flexibility,” stated Marsha Miller, Lowell City Administrator. Government Capital Corporation’s experience and expertise were a great value to our acquisition.”

“Congratulations to Marsha Miller, Mayor Don Bennett and the Lowell City Council on the successful acquisitions,” stated Lisa Hott, Government Capital Corporation Client Services Specialist. “Having worked with the City of Lowell on multiple transactions over the past few years, we take great pride in meeting the financial needs of Oregon municipalities.”

About The City of Lowell, Oregon
The City of Lowell located in Lane County, Oregon, has an estimated population of 1,100. Nestled along the foothills of the Cascades, Lowell is on the north shore of the Dexter Reservoir on the Middle Fork Willamette River. Filled with scenic historic covered bridges, the city is known for its’ wild blackberries, wildflowers as well as the annual Oregon Association of Rowers’ Covered Bridge Regatta and the Blackberry Jam Festival. For more information, visit www.ci.lowell.or.us.

About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of municipal financings exceeding $4 Billion in Oregon and across the nation. For more information, visit www.govcap.com.

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CITY OF LOWELL ACQUIRES LAND FOR A NEW CITY HALL AND LIBRARY

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Lowell, Oregon (June 2019) – The City of Lowell, Oregon announces the acquisition of land to accommodate future growth. The recently purchased sites will serve as the new locations for City Hall, a park and a new library with groundbreaking scheduled in the fall of 2019. The selection process will start soon for the builder. The city applied for a partial grant from the Oregon Parks & Recreation Department and chose The Urban Collaborative to provide the designs. Hoping to utilize an additional grant from the Ford Family Foundation, the City of Lowell selected Government Capital Corporation as the most cost effective financing solution for the remaining construction costs.

“Government Capital made the financing seem effortless. They walked me through each step of the process and responded quickly to all our questions and needs,” stated Jared Cobb, City Administrator.

Jana Offutt, Client Services Specialist of Government Capital Corporation commented, “With the current economic environment, municipalities are constantly searching for alternative funding options. Our ability to customize financing while utilizing a combination of other resources, allows our clients to obtain the funding needed for project completion.”

About The City of Lowell, Oregon
The City of Lowell located in Lane County, Oregon, has an estimated population over 1,080. Nestled along the foothills of the Cascades, Lowell is on the north shore of the Dexter Reservoir on the Middle Fork Willamette River. Filled with scenic historic covered bridges, the city is known for its wild blackberries, wildflowers and the annual April Oregon Association of Rowers’ Covered Bridge Regatta. For more information, visit ci.lowell.or.us.

About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to cities and all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of project financings in Oregon and across the nation. For more information, visit govcap.com.

 

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Ferris EDC Closes on Two Tracts of Land

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Ferris, Texas (October 24, 2017) –Ferris Economic Development Corporation (EDC) announced the successful funding of the City’s two tracts of land totaling 9.79 acres of South I-45 Highway frontage road. Plans for developing the land are well underway with ventures for retail, dining and shopping.

Ferris EDC chose Government Capital Corporation to provide a 20 year term loan, secured by the EDC’s sales tax revenues. The loan was structured so that the EDC could have the most flexibility to work with the developer to maximize sales tax generation capabilities.

Sean Overeynder, Executive Director of Ferris EDC stated, “We had a very tight timeline to meet and Government Capital Corporation went above and beyond to help us move the project forward quickly. Their process is straightforward and they have excellent customer service.”

“Congratulations to the Ferris EDC for their vision and procurement of land in such an excellent location for development. The I45 corridor will continue to grow and be a significant contributor to sales tax revenues for Ferris for years to come,” stated Kevin Lerner, Senior Vice President of Government Capital Corporation.

About Ferris Economic Development Corporation
Ferris Economic Development Corporation is located in Ferris, Texas, on Interstate Highway 45, 20 miles south of downtown Dallas and serves approximately 2,600 residents. Because Ferris had four brick plants operating during the 1950s, the community gained its nicknames “Brick Capital of the Nation” and “The City that Bricked the World.” There are approximately 76,000 + consumers within a 17 minute trade area of Ferris. For more information: www.ferristexas.gov/economicdevelopment

About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to Economic Development Corporations and all other local governmental entities. Since its founding in 1992, the company has successfully completed thousands of project financings in Texas and across the country. For more information: 800-883-1199, www.govcap.com