CHARLESTON, W.Va. — The Kanawha County Commission has approved two separate investment bankers/placement agents to assist with the bonds for both the Judicial Building and the future Capital Sports Center.
A five-person committee conducted interviews with the four candidate companies who sent in proposals for the two projects and reviewed their proposals. Committee members decided to go with two different candidates for the two bonds instead of choosing one for both.
The committee, which included County Manager Jennifer Herrald, recommended Carty and Company to be involved with bonds for the Kanawha County Judicial Building renovations. Commissioners approved of that motion. Committee members narrowed down the choice for the Judicial Building renovations to Carty and Company and Huntington Securities, Inc., but Carty stood out to them more.
“Carty had a better presentation in our thoughts,” Herrald told commissioners. “They were going to be able to put out an RFP (request for proposal) to all the local banks to get the best interest rate for us.”
According to Herrald, Carty and Company is going to seek a five year call for refinance with no penalty for the commission and the renovations. They’ve previously done deals with Berkeley County and Kanawha County.
Greg Isaacs is Senior Managing Director for Carty. He was at the commission meeting Tuesday and spoke to commissioners.
“It is a public issue and everything is transparent so we will show you comparables,” Isaacs told the commission.
Piper Sandler was recommended by staff and approved by commissioners to be involved with the Capital Sports Center project. Carty and Company was also considered for the bond assistance for the sports center.
Piper Sandler is also working with the City of Charleston and has become familiar with Capital Sports Center project. Herrald said their proposal is for the county to own one portion of the property and the city to own the other.
“This would be a lease revenue bond that would allow the revenue from the Capital Sports Center to come in and allow us to pay the bond with those revenues,” said Herrald.
Joe Nassif, Managing Director at Piper Sandler, said they will seek financing from local investors and banks for the project.