ABSTRACT
Parking projects are very expensive and often require creative solutions to finance. Whether trying to balance operating budgets or considering a major new investment, financing sits at the heart of any decision. It is important to understand not only the various types of financing, but also the key decisionmakers and stakeholders and their responsibilities. Big public works projects, especially, often require big financing. One option for many city, state, and national government organizations and authorities is bonds, which offer an attractive alternative to bank loans. Authorities may finance capital projects or refinance existing debt by accessing the public bond market or by securing a bank loan. How will the project be funded? Which financing option is right for each authority, owner, developer, etc.? As these questions present themselves in development, it is important to become familiar with bonds, including the format and issues involved, to make a more informed decision.
