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DiPerna & Company is a Midwest-based, boutique investment banking firm.

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We specialize in incentive and economic development financing.

Pairing the best sources of capital with the right incentive package for a project can be complicated–and securing them even more difficult. We simplify the process for you, making it effective, efficient, and easy.

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Experience + Expertise

Our team of bankers and analysts combine our deep knowledge, unique experiences, & proven skills to provide unmatched client service that reflects our commitment to integrity, honesty, and grit.

Meet our team

550+

project transactions closed

$1.5B+

in financing
delivered

incentivizing over

$4B+

in capital
investment

Our Services

DiPerna’s expertise is centered around three core service offerings. Here’s what it looks like to work with us:

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Advisory
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Credit
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Servicing
Advisory

Arlington Gateway

Arlington Gateway

$35 million in revenue bond and PACE financing to pay for an 800 space structured parking facility and energy efficiency improvements. Bonds are secured by Property and Income Tax Increment Revenues and as a backup City Non-Tax Revenues.

Financial Advisor to Developer

Water Street District

Dayton, OH

$50 million in various bond, PACE, and incentive financings closed since 2014 to pay for various infrastructure, parking, and energy efficiency improvements. Bonds are secured by Tax Increment, Special Assessment, Parking Revenues, and New Community Authority Charges.

Financial Advisor to Developer

Bridge Park

Dublin, OH

$150 million in revenue bonds over six phases (2015-2023) funded over 3,000 structured parking spaces, roadways, water, sewer, and parks. Bonds were secured by Tax Increment, New Community Authority, and Lodging Tax Revenues.

Financial Advisor to Developer

Credit

The Foundry

Cincinnati, OH

$42 million in first mortgage bonds issued across three bond funds to fund the conversion of the former Macy’s department store in downtown Cincinnati to a 150,000 SF class A office building with over 35,000 SF of ground level retail space.
Bonds secured by shared first-lien mortgage and assignment of leases and rents. AA+ and A- Rated.

Financial Advisor to Issuers

White Castle

Vandalia, OH

$20 million in first mortgage bonds issued across two bond funds to fund a 100,000 SF production facility expansion.
Bonds secured by Lease Payments, 1st Mortgage, and Corporate Guaranty. AA+ and A- Rated.

Financial Advisor to Issuers

Northern Stamping

Cleveland, OH

$23 million in bond fund bonds issued to fund new machinery, equipment, and facility renovations an automotive supplier to GM and Jeep.
Bonds secured by Lease Payments and 1st Mortgage. AA+ Rated.

Financial Advisor to Issuer

Servicing

Three Oaks District

Cincinnati, OH

Detailed Tax Increment projections prepared for 107 planned housing units as part of a master plan. The projections included phasing assumptions based on a lot take-down agreement with a national homebuilder. DiPerna also engaged to perform annual reporting on the TIF and calculate “Minimum Service Payments” owed by various home parcels should the TIF revenues be insufficient to pay debt service on the Bonds.

Revenue Demand Consultant and TIF Administrator

Valor Acres

Brecksville, OH

Compilation of a Revenue Demand Study for the first phase of a 180-acre mixed-use development project which utilized two methodologies for projecting Tax Increment Payments. The Study considered incremental revenues by parcel, construction timelines, school district compensation payments, comparative values, payment timing, minimum service payment detail among other relevant market data that was included in a preliminary offering memorandum used by an Underwriter to market and sell ~$10 million in revenue bonds.

Revenue Demand Consultant

Easton

Columbus, OH

Compilation of a Revenue Demand Study which analyzed over 120 parcels to project the future Tax Increment Payments to be generated from two existing TIF districts which encompasses the Easton Town Center. The Study contemplated existing and future development including hospitality, retail, commercial, and for-rent multi-family facilities. Varying levels of tax abatement were also considered in the Study to provide the capital markets an independent, third-party projection of Tax Increment Payments used by an Underwriter to market and sell ~$30 million in revenue bonds.

Revenue Demand Consultant

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“Success Breeds Success”

Michael DiPerna, President

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DiPerna & Company, LLC is a registered Municipal Advisor with the U.S. Securities and Exchange Commission ("SEC") and Municipal Securities Rulemaking Board ("MSRB")

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DiPerna Advisors
232 N Third St, Suite 202
Columbus, Ohio 43215