After Successful Debut, New York's CRC Looks to New Deals

Whalen, Robert
May 2006
Bond Buyer;5/30/2006, Vol. 356 Issue 32391, p52
Trade Publication
The article presents information about New York City's Capital Resources Corp.'s (CRC) Loan Enhanced Assistance Program (LEAP) and CRC's plans to publicize its services to nonprofit organizations through the program. The CRC has recently sealed its first tax-exempt, variable-rate bond financing for Maimonides Medical Center, a Brooklyn-based teaching hospital which borrowed roughly $31.2 million by issuing bonds through the CRC's LEAP. Banc of America Securities LLC is the program's underwriter, Winston & Strawn LLP is bond counsel, and Bank of America NA provides letters of credit to the issuers. Officials at the CRC have promoted the new program through a series of mailings, seminars, and a pair of road shows in Brooklyn and Bronx. CRC looks to new deals.


Related Articles

  • New York City Nonprofits to Refinance IDA Debt. Phillips, Ted // Bond Buyer;10/20/2008, Vol. 366 Issue 32985, p3 

    The article reports on the approval of an amendment by the New York City Capital Resource Corp. (CRC) to its incorporation documents that will allow it to refund bonds sold by the International Development Association (IDA) for civic facilities on behalf of nonprofits. According to the Economic...

  • Nonprofit outfits brace for change to student loan index. McEntee, Christopher // Bond Buyer;03/05/98, Vol. 323 Issue 30344, p1 

    Reports on the dispute between nonprofit corporations that sell student loan bonds with US President Bill Clinton's administration and Congress over a proposed interest-rate formula. Potential effects of the proposal to the corporations' bond-backed programs and credit ratings; Position of the...

  • GEORGIA: Report on Grady Hospital. DeSue, Tedra // Bond Buyer;1/3/2008, Vol. 363 Issue 32785, p9 

    The article reports on the financial aspects of Grady Memorial Hospital in Atlanta, Georgia. The hospital has about $240 million of bonds outstanding that were issued by the Fulton-DeKalb County Hospital Authority. It plans to issue $200 million of bonds to save the hospital. Meanwhile, Grady...

  • Not-for-profits face gloomy bond market, Moody's says. Cys, Jane // AHA News;09/13/99, Vol. 35 Issue 36, p5 

    Presents information on the annual report of Moody's Investors Service stating that median bond rating for the not-for-profit hospital field could fall. Comments from Pamela Federbusch, senior vice president at Moody's; Reasons for the pessimistic outlook; Effects of the Balanced Budget Act;...

  • Hotels Eye N.YC. Bonds: CRC May Be Funder Of Last Resort. Phillips, Ted // Bond Buyer;10/21/2009, Vol. 370 Issue 33203, p1 

    The article reports on the hopes of hotel developers in New York City that the New York City Capital Resource Corp. (CRC) will fund their last resort project for the city. It notes that the CRC will issue 121 million dollars allocation of recovery zone facility bonds for the city. This...

  • Arkansas Children's Hospital Offering $100M for Expansion. Watts, Jim // Bond Buyer;4/21/2009, Vol. 368 Issue 33101, p5 

    The article reports on the offer of Arkansas Children's Hospital to finance over half the cost of a $121 million expansion. It states that the expansion will be on the Little Rock facility with an upcoming negotiated sale of $100 million revenue bonds by Pulaski County. It notes that revenue...

  • COMMUNITY BONDS AND THE RISE OF LOCAL POWER. Yogaretnam, Grace // Corporate Knights Magazine;Winter2012, Vol. 10 Issue 4, p26 

    The article discusses the so called community bonds that could be used by non-profit organizations to raise funds to finance their infrastructure projects like community power installations and green retrofits. It defines community bonds as debt instruments or small loans from a network of...

  • CALIFORNIA: Tax Measure Voted Down. Saskal, Rich // Bond Buyer;2/8/2008, Vol. 363 Issue 32812, p9 

    The article reports on the decision of Alameda County voters to reject proposals of the nonprofit Children's Hospital & Research Center of an unusual tax bill that would have been used to back a bond issue in California. It had petitioned to impose a parcel tax on properties which would help...

  • Carle Foundation Leads Illinois' Handful of Approved Deals. Shields, Yvette // Bond Buyer;10/14/2004, Vol. 350 Issue 31989, p4 

    Reports that the Illinois Finance Authority has approved bond deals for several Illinois-based universities, hospitals and other nonprofit organizations. Sale of revenue bonds for the construction and renovation of Carle Foundation facilities; Refunding of University of Chicago fixed-rate debt;...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics