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Red Hook hires municipal financial advisor for future financing related to community solar
Summary
The Town Board approved contracting with Fiscal Advisors (Beth Ferguson's firm) for registered municipal financial advisory services to support potential future bond or financing activity, including for the community solar project.
The Town Board on Feb. 11 approved engaging a registered municipal financial advisor to support the town’s financing needs, including potential financing related to the community solar project.
Board members said they previously worked with Beth Ferguson when the town did an early refunding of serial bonds; Ms. Ferguson has moved to Fiscal Advisors and the board approved retaining her firm to provide ongoing municipal financial-advisory services. The board approved the authorization by voice vote (resolution 17) and noted the town’s strong credit profile referenced in the meeting, including a double-A rating and low financial risk cited from the comptroller’s recent report.
Why it matters: The town expects to need municipal‑finance advisory services for future bond issuances or financing that may be used to support projects such as the community solar build-out; an experienced advisor can guide issuance timing, structure and market approach.
Next steps: The town will execute an agreement with the chosen municipal financial advisor and call upon the advisor for services as financing needs are identified.
