San Diego CA— SANDAG was recognized last week for the $331 million bond sale that helped finance and accelerate completion of the $2.1 billion Mid-Coast Trolley project – the largest transportation project in the history of the San Diego region.
The Far West region includes the states of Alaska, Hawaii, Oregon, Washington, and California. The SANDAG bond sale was selected for the award from a total of 947 eligible deals in the Far West region.
Winning transactions are selected based on innovation, the ability to pull complex transactions together under challenging conditions, the ability to serve as a model for other financings, and the public purpose for which a deal’s proceeds were used. This capital grants receipts revenue bond sale represented the first public market, stand-alone securitization of a federal full-funding grant agreement in nearly 20 years.
This is the 18th year The Bond Buyer has recognized outstanding achievement in municipal finance. The National Deal of the Year Award was presented to CommonSpirit Health for a $6.5 billion financing deal. Other organizations that received regional or category-based awards include:
- Cities of Dallas and Fort Worth, Texas
- Los Angeles County Metropolitan Transportation Authority
- Transurban’s 95 Express Lanes and Virginia Small Business Financing Authority
- Vermont Municipal Bond Bank
- Battery Park City Authority
- Indianapolis Local Public Improvement Bond Bank
- City of Austin, Texas
- Solid Waste Authority of Palm Beach County, Florida
“SANDAG is honored to be recognized with this prestigious award,” said Andre Douzdjian, SANDAG Chief Financial Officer. “We are proud of how the team worked together to develop a creative, fiscally responsible solution to expedite completion of the Mid-Coast Trolley project.”
The Mid-Coast Trolley project will extend UC San Diego Blue Line Trolley service from Downtown San Diego to the University community, and will serve major activity centers such as Mission Bay, the VA Medical Center, UC San Diego, and University Towne Centre. Nine new stations will be constructed. Major construction work began in 2016, with service anticipated to begin in late 2021.
To learn more about the Mid-Coast Trolley project, visit KeepSanDiegoMoving.com/MidCoast.
The San Diego Association of Governments (SANDAG) is the San Diego region’s primary public planning, transportation, and research agency, providing the public forum for regional policy decisions about growth, transportation planning and construction, environmental management, housing, open space, energy, public safety, and binational topics. SANDAG is governed by a Board of Directors composed of mayors, council members, and supervisors from each of the region’s 18 cities and the county government.