The Successor Agency of the Dissolved Redevelopment Agency of the City of Banning, located in Banning, California, was established to manage and oversee the remaining assets and obligations of the former redevelopment agency following its dissolution in 2012. The agency primarily focuses on the revitalization of the local economy through urban development projects and community improvement initiatives.
| Bond Name | Country | Maturity | Coupon(%) | |
|---|---|---|---|---|
| BANDEV 3.94% 2037-09-01 USDSuccessor Agency of Dissolved Redvelopmnt Agency of City of Banning | United States | 2037-09-01 | 3.935 | 4.76 |
Company overview and issue history are AI generated, and should not be cited or relied on without verification.
The agency has issued bonds to finance various redevelopment projects, with its initial bond issuance occurring shortly after the dissolution in 2013. Notably, the agency issued taxable bonds in 2016 to fund infrastructure improvements, offering competitive yields that have attracted retail investors. With a current yield of approximately 4.2%, it stands favorably compared to industry averages, reflecting strong local demand and a commitment to enhancing community amenities. Recent financial reports indicate ongoing interest in future bond offerings as the agency prepares for new redevelopment plans, aiming to foster economic growth in Banning.