Fulton County Government - Atlanta, Georgia $49.5M Equipment Refinancing
In June of 2006, Fulton County Jail was under a federal court order to implement over $50 Million in mechanical, electrical, lighting and plumbing renovations. Grant Capital provided the necessary funding, over a 19.5 year term, so that these renovations could commence expeditiously without the need for a municipal bond issue. In the 4th quarter of 2010, the County engaged Grant Capital in discussions to help them find ways in to reduce operating costs. On January 3, 2011 we refinanced the equipment related to the jail’s mechanical, electrical, lighting and plumbing renovations project, which allowed the County to achieve a present value savings of $1.5 Million, a reduction in lease term from 19.5 years to 15 years and a new interest rate of 4.051% (previously 4.7796%).
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