Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
BFSA presents bond comparison, offers 10-year deficit note as one option
Summary
The Buffalo Fiscal Stability Authority told the finance committee it compared a 10-year deficit bond and a longer parking-authority financing for the city's proposed ramp work, showing similar present values and leaving the policy choice to elected officials.
The Buffalo Fiscal Stability Authority on Tuesday laid out two financing options for the city's parking-ramp work: a shorter-term 10-year deficit bond and a longer-term parking-authority transaction tied to a sale or lease of ramp assets. Fred Floss, BFSA secretary, told the Committee on Finance the office used a 4% discount rate to convert cash flows to present values so the two paths would be comparable.
Floss said the analysis modeled $46 million in debt (the "original ask") but that bond covenants may limit available BFSA bonding to about $26 million for the parking ramps. "First,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
