The Detroit/Wayne County Port Authority, due to its status as a state-enabled special purpose authority, has the ability to issue revenue bonds that can help finance capital assets for public or private entities.  These financings are not a debt of the taxpayers, nor are they limited by a specific dollar amount.  Port Authorities are commonly used development finance partners throughout the country and can offer highly specialized structures.  Some benefits and features of this program are outlined below: 

 

- Facilitates public and private capital investment projects

 

- Synthetic leasing (off-balance sheet financing) allows publicly traded companies, or constituent units of government, to strengthen their balance sheets and financial ratios

 

- Capital operating and synthetic lease options available with renewable option/balloon

 

- DWCPA can enter into contracts as lessee or lessor

 

- Rates can be tied very closely to debt service, preventing typical developer “mark up”

 

- Client maintains control of construction decisions and operations

 

- 100% debt financing available

 

- Possible for the “private partner” to capture depreciation through the asset

 

- Not a debt of any constituent unit (City of Detroit, Wayne County or State of Michigan), nor a pledge of credit

 

- Help corporations incorporate favorable financial ratios, maintain good credit, borrowing capacities

 

Our History

In 1701, Detroit was founded by Antoine de La MoThe Cadillac when he planted the flag of France at the foot of what is now Griswold Street. Detroit's geographic location between the upper and lower Great Lakes provided reliable access to several key forest, soil and mining materials. In 1749, concerted efforts were begun to strengthen the French hold on the Ohio territory....

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