Ridgeline Municipal Strategies, LLC served as a municipal advisor to the Las Gallinas Valley Sanitary District ("District") on a $6,100,000 Solar and Energy Storage Project Lease Financing ("Financing"). The Financing was structured as a private placement / equipment lease and provided funding for the District to fund a solar power generation and energy storage project ("Project").
Located in the Las Gallinas Valley in Marin County, CA, the District provides wastewater treatment and management of a reclamation project which includes a freshwater marsh, irrigated pastures, storage ponds, and a saltwater marsh. The District serves approximately 32,000 customers within a 383-acre boundary and maintains around 105 miles of collection lines.
Ridgeline provided the following services to the District:
• Overview of financing options and preparation of financing strategy
• Development of a long-term financial forecast
• Assistance with the preparation of a request for proposals
• Assistance with review of financing proposals, lender selection, and financing terms negotiation
• Financing documents review
• Financing process coordination
The District retained Ridgeline to provide municipal advisory services on the Financing. Ridgeline helped the District develop a financing strategy for the $6.1 million solar power generation and energy storage project.
After considering various financing strictures, the District selected to pursue a privately placed equipment lease option due to the optimal cost, timing, and collateral requirements alignment.
The 10-year term of the Financing allows the District ample time to complete the Project and minimize interest costs for better utilization of ratepayer funds.
Ridgeline Municipal Strategies, LLC is an independent registered municipal advisory and financial consulting firm assisting cities and special districts with financial planning and financing for infrastructure, facilities, and equipment.
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