Public Media Company’s Public Media Bond Program provides public broadcasting entities access to tax-exempt bonds to finance their capital investment projects through the Colorado Educational and Cultural Facilities Authority.
WHO IS ELIGIBLE TO APPLY?
Licensees and prospective licensees of noncommercial, educational broadcasting stations operating under a renewable broadcasting license granted by the Federal Communications Commission, whereby a majority of the station’s daily broadcast schedule within its primary signal area must be intended for a general audience and of an educational, informational and cultural nature.
- Capital projects that benefit a public broadcasting entity or a group of entities
- Project purpose is not religious
- Minimum financing need of $3 million
Priority is given to public broadcasting entities that demonstrate the financial capacity to repay the loan. In determining the eligibility of an organization wishing to borrow funds, the lender(s) will consider relevant organizational and financial criteria, such as the following:
- The financial condition of the borrower as evidenced in a detailed analysis of the borrower’s current and historical financial position including cash reserves and any financial projections that may be relevant for the project.
- The value of the assets being financed, evidenced by an engineering study, invoices from vendors, or by a third-party appraiser.
- The quality and experience of the borrower’s management team, staff, and governing board of directors.
- Whether a guaranty source exists to support all or a portion of the debt service, and status of funds raised through a capital campaign (if applicable) to offset all or a portion of the debt service.
|Due Diligence by Public Media Company||2-3 weeks|
|Solicitation by North Slope Capital (Municipal Advisor) to Prospective Banks||1-2 weeks|
|Due Diligence by Prospective Banks||3-4 weeks|
|Decision and Closing||2-3 weeks|