Broward County Finance Authority

The Broward County Finance Authority (BCFA) plays a crucial role in facilitating economic development and providing access to capital for both public and private entities within Broward County, Florida. Established as an independent special district, the BCFA’s primary function is to issue tax-exempt and taxable revenue bonds. This allows eligible borrowers to secure lower interest rates than they might otherwise obtain through conventional financing methods.

The Authority does not operate on taxpayer dollars. Its operational costs are covered by fees generated from bond issuance and related services. This self-sustaining model ensures that the BCFA can continue to serve the community without burdening local taxpayers.

The BCFA provides financing options for a wide array of projects across various sectors. These sectors include, but are not limited to, healthcare, education (both private and charter schools), housing (multifamily and single-family), and industrial development. By facilitating access to affordable capital, the BCFA helps organizations expand their operations, create jobs, improve infrastructure, and provide essential services to the residents of Broward County.

Eligibility for BCFA financing varies depending on the type of project and the specific program being utilized. Generally, borrowers must demonstrate financial stability, a viable business plan, and the ability to repay the debt. The Authority conducts thorough due diligence to assess the creditworthiness of potential borrowers and the feasibility of their projects.

The process of obtaining financing through the BCFA typically involves several steps. First, a potential borrower submits an application outlining the project and its financing needs. The BCFA then reviews the application and conducts its due diligence. If the project is deemed eligible and financially sound, the Authority will issue a bond resolution, authorizing the issuance of revenue bonds. The bonds are then sold to investors, and the proceeds are used to fund the project.

Beyond direct financing, the BCFA also serves as a resource for information and guidance on accessing capital markets. The Authority can provide technical assistance to borrowers, helping them navigate the complexities of bond financing. It also works with other governmental agencies and community organizations to promote economic development initiatives in Broward County.

In summary, the Broward County Finance Authority is a vital instrument for fostering economic growth and enhancing the quality of life in Broward County. By providing access to affordable financing, the BCFA empowers organizations to pursue projects that benefit the community, create jobs, and strengthen the local economy. Its commitment to financial responsibility and its expertise in the capital markets make it a valuable partner for both public and private entities seeking to invest in Broward County’s future.