R&C Client’s Transaction Awarded Deal of the Year by “The Bond Buyer”

Tonight, R&C Client the Housing Authority of El Paso will accept a “Deal of the Year Award” from the “The Bond Buyer” for its RAD Conversion of nearly 1,600 units. HACEP’s transaction won in the category of Small Issuer Financing and is eligible to win the overall deal of the year award. The deal being awarded is the issuance of $125 million of tax-exempt multi-family housing revenue bonds that were issued in two separate series to finance the rehabilitation and reconstruction of 1,591 public housing units in 13 multi-family communities. This transaction facilitated the largest Rental Assistance Demonstration (RAD) Program financing deal approved by the U.S. Department of Housing and Urban Development (HUD), the largest collection of units bundled into a single “private activity bond” allocation from the Texas Bond Review Board and the largest single issuance of housing tax credits ever approved by the Texas Department of Housing and Community Affairs ($84 million).