DiPerna Advisors has a long history of structuring complex public and private infrastructure projects for its clients. Mr. DiPerna assisted in the creation of the Ohio Department of Transportation's State Infrastructure Bank in 1988. Originally seeded with over $125 million in federal and state funds, the ODOT State Infrastructure Bank has leveraged its funds into over $450 million of direct investments in infrastructure projects throughout Ohio in the form of revolving loans and bonds. Mr. DiPerna has served as the Financial Advisor to the ODOT State Infrastructure Bank since its inception.
ODOT State Infrastructure Bank
A fundamental infrastructure finance program for political subdivisions within Ohio, the ODOT State Infrastructure Bank provides competitive interest rate loans and bonds for transportation projects, including:
Additionally, the ODOT SIB Bond program has the ability to fund projects up to $20 million with financing terms up to 25 years. It has proven to be a cost effective financing source for cities, townships, countries, and port authorities in the State of Ohio.
Structuring with Incentives
Infrastructure projects have historically been some of the most challenging projects to finance due to their non-revenue generating profiles. Most of the time, communities must use their own funds to pay for new or rehabilitation of old infrastructure. Unfortunately, most communities do not have the financial capacity to support their infrastructure demands. This conflict is not only a State of Ohio issue but a national problem as well. DiPerna Advisors works to solve the infrastructure challenge for many of its clients by utilizing economic development incentives to implement creative financing solutions -- often times a true "public-private partnership" model.
Franklin County Infrastructure Bank
DiPerna Advisors is retained by Franklin County, Ohio to serve as its Financial Advisor to its infrastructure bank program. Designed after the successful ODOT SIB program, the Franklin County Infrastructure Bank aims to assist its constituent communities with any type of infrastructure need. The fund was seeded by the Franklin County Commissioners in early 2015 in the initial amount of $3.5 million. The County expects to make annual capital contributions to the Fund for the next 3-4 years.
Term of the financing is up to 10 years with interest rates fixed below AAA rated borrowers.