GADA Financial AssistanceNEW! 2009A Financial Assistance Round - Open August 1, 2008 through December 18, 2008 Click here for the complete application! (Word doc.)
NEW! An Amendment has been issued for the 2009A round. Click here to download a copy of the amendment. A Financial Assistance application is not administratively complete without the amendment and supporting documentation.
BENEFITS OF THE GADA PROGRAM INCLUDE:
- Lower interest rates
- Loan terms of up to 30 years
- Possible cost of issuance subsidies
- Ability to fund a broad array of projects
- Grants and loans to help accelerate projects
- Assistance in establishing small communities' credit
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To date, GADA has saved its borrowers more than $11 million in gross interest and cost of issuance. | ELIGIBLE BORROWERS INCLUDE:
- Cities, Towns, Counties and Tribes
- Municipal Improvement Districts (including Community Facility Districts)
- Fire Districts
- County Improvement Districts
- Special Road Districts
- Sanitary Districts
- Drainage or Flood Protection Districts
- County Flood Control Districts
- County Jail Districts
- Regional Public Transportation Authorities
- Regional Transportation Authorities
GADA’s tax-exempt bonds are currently rated AA-/A1, enabling borrowers with low (or no) investment grade ratings to realize interest savings. In addition, GADA typically subsidizes the costs of bond issuance, providing further savings on fees for underwriters, financial advisors, bond counsel, trustees, bond rating, and costs associated with bond issuance. Typically, GADA’s financial assistance saves borrowers $25,000 to $200,000, depending on the amount of the loan. Generally, GADA holds two rounds of bonding per year. Contact the Program Manager for more information.
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