HJ Sims Case Study on CTA Financing.
Underwriter HJ Sims conducted a case analysis highlighting the success of a 2017 CTA financing of Aviva’s 26-acre Sarasota site.
Capital Trust Agency, Gulf Breeze Financial Services, and Capital Trust Agency Community Development Entity have been acting as efficient conduits to access affordable capital for qualified projects since 1985.
Throughout the process, CTA staff and counsel are on weekly calls with project team working through complicated decisions.
Borrower/Banker/Developer approaches CTA regarding project.
CTA Staff makes preliminary decision on the feasibility of the project and public purpose.
Borrower submits and application to CTA
CTA reviews the application and conducts financial analyses on submitted audits, source and use and proforma materials and adopts and inducement resolution
The TEFRA (Tax Equity Fiscal Responsibility Act) Hearing takes place in Gulf Breeze.
The City of Gulf Breeze and Town of Century each adopt resolutions and an amendment to the Interlocal Agreement approving the project and finding it meets public purpose
Visit to the project takes place
CTA Staff submits final award resolution to the CTA Board
Bonds are marketed and sold to potential investors
Bonds issued.
The Capital Trust Agency (CTA) was created to address the needs of many communities across the United States for responsive and innovative financing of projects that provide a public benefit, and which qualify under the Internal Revenue Service rules for tax-exempt financing.
Many of these projects have been for the construction of public K-12 schools and other educational facilities, improving access to educational opportunities for thousands of children.
CTA has also helped construct affordable housing projects, airport facilities, hotel and convention developments that help promote tourism and a variety of healthcare projects.
Since its formation in 1999, CTA has financed nearly $3 billion in projects that qualify for tax-exempt financing under the rules of the Internal Revenue Service.
CTA’s success in closing financing starts with an openness to consider a variety of qualified projects. We work with many nationally recognized investment banking and legal firms that approach the CTA with worthwhile uses of tax-exempt bond proceeds.
Qualified tax-exempt financing through CTA has benefitted many communities through such projects as new charter schools, increasing access and opportunities for thousands of children, converting blighted housing projects into desirable, safe residences for low-income families and building facilities for after-school care programs for families. In addition, CTA has helped to remove some of the stigma associated with low-income housing. With over 48 properties, CTA has financed 10,377 units of affordable housing, providing homes for tens of thousands of people.
Capital Trust Agency Community Development Entity (CTA CDE) was formed in 2007 and was certified by the US Treasury as a Community Development Entity.
Underwriter HJ Sims conducted a case analysis highlighting the success of a 2017 CTA financing of Aviva’s 26-acre Sarasota site.
During the annual meeting of the Escambia County Public Schools Foundation in early July, Escambia County Schools Superintendent Malcolm Thomas
Omega Communities turned to CTA to help finance a series of senior living community projects. Each project will have an
Notices of Public Meetings
The Capital Trust Agency will meet at 9:00AM on October 29, 2024 at 315 Fairpoint Dr., Gulf Breeze, FL 32561