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Routt County hires Piper Sandler to advise on TIFIA financing for YVRA terminal; $100,000 fee to be paid from airport reserves

5521351 ยท July 1, 2025
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Summary

The county authorized a contract with Piper Sandler as financial consultant for a possible TIFIA loan to help finance part of the YVRA terminal project; the firm will be paid $100,000 at closing, with a supplemental budget requested from YVRA reserves.

Routt County commissioners on July 1 authorized the county to contract with Piper Sandler to serve as financial consultant for a potential Transportation Infrastructure Finance and Innovation Act (TIFIA) loan to finance part of the YVRA terminal project.

County staff said Piper Sandler has a national municipal finance practice and experience on airport TIFIA transactions; the firmwill be paid $100,000 upon closing of the TIFIA loan. County staff said the $100,000 would come from YVRA reserves and that a supplemental budget ordinance will be needed to move the funds.

Dan (county finance staff) described Piper Sandlerstaff who would work on the project, including Nate Eckloff of the Denver office and John Cohen from the Washington, D.C., office, and said the firm has been involved with many TIFIA-type loan transactions. Dan also said bond counsel Kutak had referred Piper Sandler to the county.

"Piper Sandler is closed on 10 of 11 TIFIA type loans," Dan told the commission, noting the firm's relevant airport finance experience.

Commissioners voted to authorize the chair to sign the contract. Staff said, if a TIFIA loan does not close, Piper Sandler could be positioned to underwrite future bond offerings and Kutak would prepare offering documents.

The commission's motion authorized the chair to sign the contract and directed staff to process the supplemental budget needed to transfer $100,000 from YVRA reserves to pay the consultant fee at loan closing.