Issue Closed – Alliance of Long Island Agencies, Inc.

GATES Capital Corporation is pleased to announce that it has successfully closed an $11,175,000 composite financing for the benefit of the Alliance for Long Island Agencies, Inc. for Persons with Developmental Disabilities, (the “Alliance”). The financing incorporated tax-exempt and taxable bonds issued through the Nassau County Local Economic Assistance Corporation as well as the Suffolk County Economic Development Corporation for the benefit of 5 participating member agencies.

About the Alliance:

The Alliance is an association if not-for-profit charitable agencies domiciled in Nassau and Suffolk Counties, New York which provide services to persons with mental and developmental disabilities. The Alliance was established in 1995 to advocate for the needs of their consumers and families so as to ensure that adequate service for consumers are available and supported on Long Island. The Alliance has successfully issued tax-exempt and taxable bonds through 19 composite bond issues since the inception of the bond financing program in 1999.

Issue Highlights:

• 5 participating Borrowers;
• 25 Projects totaling more than $11MM (new money & refinancings);
• Both Non-PPA and PPA projects included
• Projects included administrative, residential & respite facilities, working capital:
• Replacement / additional lines-of-credit arranged;
• Taxable mortgages refinances;
• Up to 15 year fixed interest rates (no swaps or derivative products);
• Multiple bids received for each series of bonds – each presented & analyzed with the Borrower;
• No debt service reserve funds;
• Transparent process with the ultimate Bond Purchaser selected by Borrower;
• Average interest rate of 3.35%

Connect with GATES:

For more information about GATES and the Alliance Composite Bond Program, please visit our website at or contact the professionals below:

Gregory M. LiCalzi
Executive Vice President
Investment Banking – Public Finance

David W. Barr
Executive Vice President
Investment Banking – Public Finance

Greg LiCalzi, Jr.
Vice President
Investment Banking – Public Finance

Thomas Culhane
Investment Banking – Public Finance