Orlando Community Redevelopment Agency, Fla., to price $75.48 million tax increment revenue bonds

By Sheri Kasprzak

New York, March 25 - The Orlando Community Redevelopment Agency of Florida plans to sell $75.48 million in series 2010 tax increment revenue bonds, according to a preliminary official statement.

The offering includes $7.51 million in series 2010A downtown district tax-exempt bonds and $67.97 million in series 2010B downtown district Build America Bonds.

The bonds (A2/A/A) will be sold on a negotiated basis with Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. as the lead managers. The co-managers are Citigroup Global Markets Inc., Rice Financial Products Co. and Wells Fargo Securities Inc.

The maturities have not been set.

Proceeds will be used to construct a performing arts center in downtown Orlando.

The agency pursues redevelopment and revitalization projects in downtown Orlando.

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